There really is a solution!Posted Friday, August 5, 2011, at 9:59 PM
I guess at this point most of you out there know who I am and have some understanding of my views concerning the current mess we are in. I will try and be as accurate as possible, but if I make a factual error I will readily admit it and apologize. I will not engage in grade school play yard name calling. It brings NOTHING to the table.
Item 1, I am totally in favor of a balanced budget amendment.
Item 2, Social Security and Medicare benefit cuts are off the table. We paid into those trust funds and had a contract with the government who when they saw fit STOLE our money.
Item 3, I agree there is waste in the federal budget. That MUST be fixed!
Item 4, I do not agree with the notion of completely dismantling of the EPA. History has shown that too many companies will not do the right thing unless forced to. The same thing goes for OSHA. There are many agencies that could be streamlined or combined.
Now on to the solution.
A balanced budget amendment with teeth and no loop holes. The only time deficit spending is allowed before we have a rainy day fund equal to 1 years budget outlays is in the case of a DECLARED WAR! Good bye War Powers Act.
Also allowed is deficit spending in the case of a natural disaster in OUR country. All overseas bases would be closed immediately and all troops would be brought home. Border security would become the primary focus of the military, because if we get this right, people from everywhere will try to get in.
I would also add to this amendment the stipulation of no foreign aid or foreign military aid. Sorry folks, we are BROKE and the bank has closed. We will have to borrow for a few years, there is no choice. You can not slash the federal budget 40% in one sitting. I would give them 5 years to do it. Spending increases will be held to 3% a year.
Many of you have stated and rightly so, your opposition to benefits to illegal immigrants. I agree, but the fact of the matter is that many of these benefits have been ordered by the Supreme Court. Until they reverse their decisions, we are stuck. The same thing goes for so called anchor babies. There is a reason that Supreme Court Justices are appointed for life, and that is to avoid political pressure being put on them.
The tax code is a joke that no one but the lawyers and accountants and lobbyist are laughing at. There is a simple solution. A flat tax on everyone who earns an income, or earns a profit from the sales of products or services.
Social security benefits and defined pensions are exempt. The tax on profits will be just as simple as an individuals tax. Profits will be taxed on gross profits. Gross profits will be defined as the difference between what a product or service cost to produce and what it sells for. No fancy write offs or exemptions. If a product or service is produced overseas completely, then a 5% extra tax will be imposed. If the parts are made overseas and assembled here, then the penalty is only 2.5% If you are going to take our money and not give us jobs, then you will pay for it. The rate of said tax will be enough to cover debt interest payments, Social Security payments, payroll for active duty military, as well as military pensions and military family benefits. All other spending is on the table. There will be enough revenue collected to pay down the national debt 5% a year and put aside 5% of the total budget into a rainy day fund that will require a 75% majority vote to get to. The tax rate will not change until there is NO MORE NATIONAL DEBT AND THE RAINY DAY FUND IS FULLY FUNDED!!!!!!
Pity the poor lawyers and accountants and lobbyist who will have to earn a real living, just like the rest of us.
And before anyone says this plan will drive companies out of this country, remember, we are one of the world's largest consumers. We get to make the rules. It's OUR MONEY they want.
Is my solution somewhat draconian? Most likely. Does it sound too simple? What do you think? Do we finally learn how to balance a check book and live on a budget?
Do we want to be the envy of every country on earth because we are beholden to NO ONE ?
Think about it folks.
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Almost 65 and retired. Raised by an East Coast liberal. I am also a child of the sixties.
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