Fixes for the economic fix we're in

Fixes for the economic fix we're in

We asked for your ideas to fix the economy. You sent back far more than we could print. Some of you were serious. Some of you were kidding (we think). As Congress sends President Obama a stimulus package nearing $1-trillion, you have plans of your own: Raise taxes! Slash taxes! Make China pay! Make athletes pay! Invest in bullet trains, nuclear reactors and missions to space! Or, marijuana could save us. See what you think.

Albeit this was an article that ran in 2/2009 in the St. Petersburg Times in Florida. This one comment by a reader wasn't all that bad of an idea if I may be so bold to say. Politics is not usually one of my main interests until recent years. Still on my way to learning the in's & out's of the whole "game".

Patriotic retirement:

There are about 40 million people over 50 in the work force…pay them $1 million apiece severance with stipulations.

They leave their jobs. Forty million job openings — unemployment fixed.
They buy new American cars. Forty million cars ordered — auto industry fixed.
They either buy a house or pay off their mortgage — housing crisis fixed.

David Otterson, Largo

I am sure there are plenty of reasons why this wouldn't work, but none the less it is a rather novel idea IMO.

I think that as the biggest cash crop in all of America, we should legalize marijauna for personal use. The gov't would obviously tax it, and make a ton of cash which I say should go directly to paying off our national debt.

It's actually very simple:

CAP WEALTH.

One billion dollars in wealth, period.

When you hit that, you're economically retired, since there is absoutely no possible justification for you to continue to draw from the economy. There is nothing that you can't afford, so what's the point?

Just ego, and if you need to keep getting more to feel good about yourself, then you have an addiction problem.

No one has a right to unlimited wealth.

The single most defining characteristic of the superwealthy is that they a ruthlessly unconcerned about the effects of their behavior so long as their wealth continues to grow. That would appear to make being a billionaire and being a sociopath are strongly correlated, another reason to limit wealth to countable and manageable proportions.

Can anyone, even themselves, tell how many billionaires are financing terrorism? If we poor plebs cans be asked to surrender so much in the name of the war on terrorism, why not place reasonable limits on how much one person can control?

Once you stop folks with merely ten billion from spending all their time figuring out how to double it in a year, that wealth actually does trickle down. But trickle down can only work when there is an upper limit.

Originally posted by apacheman
It's actually very simple:

CAP WEALTH.

I don't see how that is simple. The money would (as it is mostly done) shift in to corporate entities. I wouldn't mind something that would review how the money is being used. If the money will be used in a new venture that creates opportunities and betters our way of life then I have no problem. If its used to buy small islands with small private armies then I can take issue. I do sort of agree with you though, at some point its all too much. Given though that congress believes that number to be somewhere in the quadrillions I doubt it would ever happen. How many billionaires make up our laws? I support the GOOOH movement, get rid of multi-millionaires, get rid of lawyers, and replace them with average ordinary citizens.

reply to post by ararisq


Wealth is wealth.

Shifting it doesn't change it or who owns it. Shifting it to a corporate entity merely inflates that entity's stock, and the stock price is part of wealth. It's pushing on a balloon.

Economic retirement means you can't work any more for any compensation whatsoever. If you're a workaholic, first, get therapy, second if you must work, do it for free.

Why should anyone think that they are entitled to take as much as they can? How does that benefit society as a whole?

It would take about 4-6 years to make the transition, but the end result would be a healthier, more peaceful world.

The fix comes in many forms, although the outcome can't be properly forecasted because we don't live in a bubble.

However, my suggestions are as follows:

1) Eliminate the Federal Income tax immediately - cutting military spending should be more than enough to cover this, although I can think of a great many other things that could go as well.

2) Do not replace the Income tax. Period. No VAT, no federal sales tax, etc

3) Create a simple flat corporate income tax and eliminate Sarbanes Oxley

4) Remove Federal Loan guarantees.

5) Remove the minimum wage.

6) Eliminate Social Security

This is a small taste of what can be done.