This is the best economic plan I've seen yet for America, and I wish some presidential candidates would adopt this platform:
23 great solutions!!
1. Replace the Federal Income Tax with a national consumption/sales tax: We should eliminate the federal income tax on Americans and replace it with a
flat, national sales tax of 15-20%. This will allow Americans to keep more of their hard earned money while encouraging the proper re-balancing of
the economy away from over-consumption and over-indebtedness toward paying down debt, saving, and investing; which will create more productivity.
This national sales tax would also replace taxes like the gas tax, as we would be paying the national sales tax on gas rather than the gas tax.
2. End all government subsidies: We have to end the government subsides to big agribusiness, big oil, big alternative energy companies, etc. Subsidies
distort the market, create less efficient firms, encourage companies to keep rolling out the same products instead of innovating to meet market price
demands and expectations, and are an unnecessary burden on tax payers. The conservatives who say that ending subsidies amounts to a tax hike are
truly incompetent. A subsidy is government intervention into the free market, whereas taxes are also intervention into the free market. Cutting
taxes= less government intervention. Cutting subsidies=less government. The result is a freer market, more efficient industry, and money better
3. Lower the federal corporate tax rate to a flat rate of 10%: Today, small and medium business are burdened with paying huge federal business taxes
of 15-35%, depending on their size. If we lower this tax to a flat rate of 10%, they will have more money to pay off debts, invest, and create jobs.
Small and medium business contribute to over 70% of the jobs in America. We cannot continue to burden them. Big corporations effectively pay 15-20%
business tax, only the government does not receive a penny. That money is spent paying teams of lawyers, accountants, closing business in America,
opening business overseas, paying off corrupt foreign officials, hiding their revenue, etc. If they didn't have to avoid paying the 35% corporate
tax and only had to pay 10%, it would be easier and less costly for them to simply pay the tax and provide our government with revenue. Then, they
could use the left over money they now have to invest more efficiently. Included in this reform, is the closing of all tax loopholes that
corporations currently use.
4. End the Warfare State: Today America manages a global empire rather than a Republic. Our defense budget is nearly $700 billion on budget, with an
additional $300 billion off budget. We spend $1 trillion a year running an empire. We have bases in countries like Germany that are entirely
unnecessary. For the next five years, America should cap defense spending at $225 billion per year. For the five years after that, we should cap
defense spending at $300 billion. China will spend around $120 billion this year on its defense budget. However, a top military superpower is not
built in five or ten years. It takes decades to build the supreme military power of the world. It took America nearly 60 years to gain that status.
Furthermore, invading countries to fight terrorism is a stupid, costly policy that makes everyone in the world hate America more. The special forces
operation against Osama bin Laden was the right way to fight terrorism (It would've been more American to take him alive and put him on trial because
that would've represented the victory of true American ideology against his). Doing good police work is the right way to fight terrorism. We should
save our money and stop bombing innocent people, who are increasingly hating us. We must leave Afghanistan and Iraq. Why are American troops and
contractors defending Chinese run copper mines in Afghanistan? It is an unbelievably stupid policy. Capping defense spending at the levels discussed
will allow us to get our fiscal house in order, save our economy, and maintain our global military supremacy.