> #1) One-Year Income Tax Vacation — Award every
taxpayer in this country a one-year income tax vacation. This plan costs about
the same $1 Trillion that Obama spent on his failed Stimulus-to-nowhere. But
watch this version of stimulus turn a bust to boom as taxpayers and
entrepreneurial risk-takers invest record sums, now sitting on the sidelines,
into business creation and expansion, stocks and real estate- thereby creating
a jobs explosion.
>
> #2) Welcome taxpayers back from the income tax
vacation with a permanent and simple Flat Income Tax, combined with zero
Capital Gains tax. This emulates the most successful economy in the world- Hong
Kong. Start the flat tax at 20%, to be reduced to 15% when the budget deficit
is reduced to no more than 3% of GDP. This combination will stimulate and
reward risk-takers and small business innovators, thereby creating millions of
new jobs.
>
> #3) Offer “angel investors” a New Investment Tax
Credit. Investors would receive dollar for dollar tax credits up to $100,000
for investments in IPO’s, secondary offerings, startups, and new real estate
developments. This would stimulate the economy by rewarding entrepreneurship
and job creation. Two of every three new jobs are created by small business.
But almost 100% of these jobs come from business startups.
>
> #4) Suspend the Employer Payroll Tax for two years.
Small business needs a break. Give them two years without having to pay for the
payroll taxes of their employees. The savings will be invested in new job
creation, expansion of a business, a new startup, or capital improvements.
Millions of new jobs will be created overnight.
>
> #5) Cut the corporate income tax rate from 35%
(currently 2ndhighest in industrialized world) to a flat 15%…but in order to
pay for it, eliminate allcorporate welfare. We should support free market
capitalism — not a crony capitalist government that picks winners and losers,
and awards favors, subsidies, and sweetheart deals to the biggest campaign
contributors.
>
> #6) Turn illegal immigration from a cost to a
benefit. First, secure the borders with a combination of virtual technology and
greatly enhanced border security. Then offer INSTANT CITIZENSHIP for any
immigrant in the world that brings $250,000 or more to invest in a U.S. home or
business within six months of arrival. This brings tremendous wealth to
America; creates millions of new jobs; ends the real estate, foreclosure and
banking crisis; and brings in new employers and employees to resolve the Social
Security crisis.
>
> #7) Social Security, Medicare and Medicaid are
eating up the entire U.S. budget. They will single-handedly destroy the U.S.
economy within twenty years. Social Security can be secured and the debt
reigned in with an immediate rise in the age of retirement to age 68 for anyone
younger than 55…and within five years raise the age of retirement again to age
70. This phase-in secures Social Security without raising taxes.
>
> #7a) Combine this age raise with a Partial
Privatization of Social Security for younger workers. This gives younger
Americans ownership of their own retirement accounts. Upon death, it belongs to
their family.
>
> #7b) Convert Medicare & Medicaid into block
grants and hand the entire budgets to the states. Let each state offer higher
deductibles and incentives for recipients to save money on medical care. States
get to keep the savings. This will turn the states into competitors, fostering
competition to attract new residents and taxpayers.
>
> #8) Legalize, regulate & tax online gaming and
medical marijuana — raising almost $300 Billion over the next decade, directed
to deficit reduction.
>
> #9) Dramatically cut the size of government with an
immediate freeze of all government hiring; freeze all salaries; and immediately
cancel all cost of living raises and step-up raises. This freeze should stay in
effect until the average compensation of government employees is equal to the
private sector.
>
> #10) Implement government employee pension reform by
changing from defined benefit to defined contribution plans (just like a
private sector 401k). This eliminates all debate over age of retirement for
government employees and how government pensions are funded. It no longer
matters, as the government is no longer responsible for funding their retirement.
>
> #10a) Ban unionization of government employees,
thereby eliminating collective bargaining.
Government employees shouldn’t be squeezing taxpayers.
>
> #11) Pass a Balanced Budget Amendment to the
Constitution to take effect after the end of the Income Tax Vacation.
>
> #12) To achieve a balanced budget, institute
dramatic cuts in government spending — 30% across the board cuts for all
departments, no exceptions (including military and defense) phased in over 3
years (10% per year). After that, limit any increase in spending to population
growth plus inflation.
>
> #12a) Give the President the line item veto to carve
additional waste out of each and every bill passed by Congress.
>
> #13) Audit all federal agencies and programs to
determine if they or their spending are Constitutional. This would automatically result in the
banning of TARP, stimulus and bailouts FOREVER.
>
> #14) End the Iraq and Afghanistan wars — that
includes bringing home the 50,000 troops remaining in Iraq presently.
>
> #14a) Demand Congress issue a formal declaration of
war before fighting any future wars (unless responding in self-defense). This
would reduce the likelihood of future wars, thereby saving taxpayers billions
in potential deficit spending.
>
> #14b) Phase out ALL foreign aid by cutting out 10%
per year for 10 years — thereby giving all our allies time to prepare.
>
> #14c) Dramatically cut the number of military bases
across the globe — specifically Japan, Germany and South Korea. It is time for
our rich friends to pay their own way.
>
> #15) Repeal Universal Healthcare, institute Tort
Reform, expand freedom of consumer choice (allowing consumers to buy across
state lines), and expand HSAs (Health Savings accounts). Make all health costs
— including insurance — 100% tax deductible.
>
> #16) Education — Eliminate the Department of
Education, redirect the funds to the state and local level. Ban unionization of
teachers. End tenure — job security and compensation must be based on
performance. Encourage school choice, parental freedom, and vouchers at the
state and local level. A well-educated country is essential to the economic
future of America. Teachers unions have damaged education almost beyond repair.
>
> #17) Energy — Encourage unlimited offshore drilling
to dramatically lessen our dependence on foreign oil. But in return for
unlimited drilling, end all special tax breaks and subsidies to the oil
industry.
>
> 17a) Have the U.S. Government offer a $27 Billion
prize to the company or companies that find an economical, domestically-sourced
replacement for fossil fuel. The amount of this prize is roughly equal to the
annual budget of the Department of Energy. By offering a prize for performance
and closing down this agency, we save the taxpayers tens of billions in future
spending. And once a company succeeds and claims the prize, we eliminate the
motivation of going to war to secure access to foreign oil. This “open source problem solving” should be
used to solve many of the biggest challenges facing our country.
>
> #18) Perhaps most importantly, LIMIT THE POWER OF
CONGRESS:
>
> a) Limit all members of Congress to two terms.
> b) Limit the amount of time Congress can meet to
only four months per year. The less time they have to create more laws, the
less damage they can do to the American people and the U.S. economy.
> c) Limit Congress to passing only bills that are
PROVEN constitutional (Enumerated Powers Act).
> d) Place a three-year moratorium on passing any new
rules, regulations or mandates on the American people or American business.
> e) Immediately ban Congress from hiring staff with
outstanding tax debts or liens. If the people that run the country can’t pay
their tax bills, they have no right to ask us to pay ours.
> f) Require that all bills be read out loud in front
of a fully assembled Congress before voting on them. This will put an end to 2,000 page laws that
no member of Congress ever reads, but all Americans are required to follow.
> g) Post all bills online at least four weeks for
public vetting before voting on them.
> h) Mandate that all bills passed by Congress also
apply to members of Congress.
> i) Allow the legislatures of two-thirds of all
states to overturn any Federal law or regulation. It’s time to provide states with a check on a
runaway Congress.
>
> #19) Forever ban the word “czar” from our
government’s vocabulary. No President should ever be able to hire cabinet level
executives without vetting and approval by Congress.
>
> #20) Audit the Fed, then aim to eliminate this
unaccountable organization that has done such damage to the U.S. economy.
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