How to Improve the Troubled U.S. Economy, Phase 1: Completely overhaul the United States’ federal tax code. In one fell swoop, take the following actions:
- Eliminate tax brackets, so that all people making more than a “living wage” (based on average U.S. household size and average U.S personal income), pay the same tax rate as a percentage of all income in excess of the determined living wage.
- Eliminate all personal tax credits, write-offs, and deductions. Personal choices will result in personal rewards and responsibilities. Medical conditions that are due to no fault of the ill/injured/incapacitated will be handled in a separate forum. This is not a taxation issue.
How to Improve the Troubled U.S. Economy, Phase 2: Many people who collect unemployment payments and are able to work do so because their families are better off financially if they remain unemployed. Encourage people who are capable of working to do so by limiting the collection of unemployment benefits to 90 days and by paying an allowance to ensure the household income does not fall below the “living wage”.
How to Improve the Troubled U.S. Economy, Phase 3: Stop the bailouts. I can’t say this loudly or often enough. Stop them now! Issuing relief financing, whether it’s to automakers, financial institutions, the adult industry, any other industry, or individuals will not help our economy in any sustainable way. It’s a time for all people to step up and do what’s right:
- Spend responsibly and ensure others do the same.
- Share with those who have less .
- Gains today are excellent - as long as they’re not being made at tomorrow’s expense.
A bailout is like a touniquet. It’ll stop the bleeding for now, but without surgery to repair the wound, death is imminent.
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