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Here is what I think. This is coming from a libertarian leaning Republican.
Fiscal Policy:
-Create two tax brackets. 15% to 100k. 25% 100,001 and up with no deductions.
-Corporate tax rates: 25% (OECD average).
-Stop this QE nonsense. Business cycles are normal and downturns should be viewed as opportunities. Throwing cash into the economy randomly creates a major misallocation of resources.
-Tighten up money. I'm not an advocate of a gold standard but interest rates need to be set by the market to accurately reflect the value of lended capital, not the whims of a Keynesian from the Saltwater schools. Further...we use money as the measuring stick for our economy. It doesn't make sense to have a stick that grows and contracts daily...that makes measurement a little misleading.
-Austrian economists have ACCURATELY predicted every major turndown of the 20th and 21st century. Easy credit and easy money policies have lead to substantial misallocations in capital goods which have lead to bubble economies throughout history. The recessions are simply the corrections and bailouts do nothing more than perpetuate the bad behavior. Recessions are periods when capital goods are cheap and should be viewed as opportunities to create new businesses...not bailout failed ones from yesteryear.
-I'm going to lump social security in here. It needs to be privatized. The transition needs to start with increasing the eligibilty age and means testing benefits. Afterwhich it needs to be merged into private retirement accounts. Whether you choose to be responsible with your money or not is of no concern to the federal government.
-Welfare: A safety net should exist for our poorest citizens. I am a firm believer in the decency of a social safety net, but it needs to be limited. It's recipients MUST either work or be involved in an education program to learn new job skills. It should also be limited to mitigate the chances or welfare recipients being on it for generations.
Health policy:
-Stop ACA
-Decouple health insurance from employment.
-Treat health insurance from an employer as taxable income to incentivize employers to NOT offer it as a benefit in lieu of higher wages.
-Minimize limitations on what non-medical practicioners can do and treat. Empower them to compete with medical doctors. I'm referring to Chiropractors, nurse practicioners, etc.
-Create advanceable tax credits to purchase medical insurance.
-Allow health insurance to be purchased across state lines. There is no reason this can't be done.
-Increase the amount of money that can be placed in HSA's tax free.
-Ensure that the tax credits are sufficient for everyone to purchase catastrophe coverage to protect citizens from catastrophic incidents.
-Block grant Medicaid and allow states to experiment on methods to increase it's efficiency.
-Begin transitioning Medicare into payment support as opposed to subsidized insurance. Means test the benefits. Ensure that no elderly patient can't afford treatment, but get the federal government out of specifically managing the insurance. Medicare is already looking at trillions in unfunded liability. It is bleeding money.
-Encourage high deductible plans to ensure that people are using insurance as it is supposed to be used. Coverage is for major expenses...not the sniffles.
Foreign Policy:
-Cut military expenditures.
-Close a good chunk of our overseas bases.
-Stop nation building.
-Stop most of the foreign aid. I have a huge issue with foreign aid when we are running deficits.
-I don't have much of an opinion on the military and foreign policy...But I don't believe that it is necessary to spend as much money as all the top twn largest spenders behind us combined.
Education:
-Pretty straight forward for me on this front...the Federal Dept. of Education should be eliminated. We really don't need a federal department....every state has it's own.
-Much stronger emphasis needs to be placed on vocational and technical training. Not everyone needs a BA in Theatre or some other garbage degree. Vocational training is very underrated.
-I don't have much else on education. It's not a "hot-button" for me.
Immigration:
-I believe the path to citizenship needs to be simplified greatly. I'm not very versed on immigration policy but I have a friend marrying a girl from Thailand and he has informed me of the process. It is INSANELY long and INSANELY expensive.
During a recession:
The government should ensure that money stays stable. That is all. The government doesn't need to "prime" or build up one end of the Aggregate Demand equation. All that a recession is, is the adjustment of a market error. The 2008 recession is a great example. The Fed held interest rates artificially low for way too long creating a bubble economy in housing (as well as lawmakers requirments on lending bodies to carry certain amounts of trash assets, which is for another discussion). Everyone knows that a house in 2000 that is worth 150k isn't worth 400k in 2006 with no major improvements. That is simply absurd, to believe that it would be. The interest rates being depressed caused businesses to take undue risks creating major malinvestments in areas that should have never been invested in. Credit was WAY to easy to come by and housing prices was skyrocketing. The recession itself was this error coming to fruition. The market naturally would have found a bottom, as it does in every instance. But the inflator in chief (Bernanke) felt that it would be a better idea to stroll in pump hundreds of billions into the economy to "soften the blow." I believe that this was a bad idea, because the market will correct naturally and it would have done so without 800 billion dollars being wasted.
Really! I'm the MAN!!!!
Call Vlad Putin tell him I'm pulling out of that half of the world he can have it. Then I'll show the rest of the world what a real imperialist warmonger the US can be and take it over.....Probably keep the Limeys and The Aussies in my sphere of control
I'm only 19 and I've wanted to be the POTUS since I was a kid (and I still do). There are things that I like about both dems and repubs. Contrary to people's beliefs, democrats aren't evil and republicans aren't evil.
Here's my plan (I'm not saying that it's perfect, but it's a start and I'm willing to tweak it):
In order to expand the the economy we either have to print more money or buy back bonds. Expansion will lower the cost of living. By increasing money supply, the interest rates will go down, and consumers will borrow more and spend more and businesses will be enticed to borrow more and invest more. Central banks can attempt to lower the interest rate. This would essentially lower the cost of borrowing money. Businesses and households would respond by spending more.
Tools used by the central bank to influence the supply of money in the economy:
1) Open-market operations: Buying/selling of government issued bonds to increase/decrease the supply of money, respectively.
2) Reserve Requirements: This is designed to control the amount of lending the banking system can do.
3) Discount Rate: The interest rate the central bank charges its member banks for borrowing funds.
***By buying government bonds, we will increase the supply of money (predicted $488 billion).
Fiscal Policy → where government alters total spending via any one or more of the following tools
1. Increase in gov’t purchases
2. Reduce taxes (is like an increase in your income, and as your income rises you have more to spend)
3. Increase transfer payments to low-income earning households (leads to money available to low-income households)
During A Recession → Government wants to encourage more spending by expanding supply of money
When the interest rate falls, things become cheaper to finance which increases consumption and investment spending; which will increase aggregate demand.
This is about what we are doing now so you would be just like Obama, right?
Here is what I think. This is coming from a libertarian leaning Republican.
Fiscal Policy:
-Create two tax brackets. 15% to 100k. 25% 100,001 and up with no deductions.
-Corporate tax rates: 25% (OECD average).
-Stop this QE nonsense. Business cycles are normal and downturns should be viewed as opportunities. Throwing cash into the economy randomly creates a major misallocation of resources.
-Tighten up money. I'm not an advocate of a gold standard but interest rates need to be set by the market to accurately reflect the value of lended capital, not the whims of a Keynesian from the Saltwater schools. Further...we use money as the measuring stick for our economy. It doesn't make sense to have a stick that grows and contracts daily...that makes measurement a little misleading.
-Austrian economists have ACCURATELY predicted every major turndown of the 20th and 21st century. Easy credit and easy money policies have lead to substantial misallocations in capital goods which have lead to bubble economies throughout history. The recessions are simply the corrections and bailouts do nothing more than perpetuate the bad behavior. Recessions are periods when capital goods are cheap and should be viewed as opportunities to create new businesses...not bailout failed ones from yesteryear.
-I'm going to lump social security in here. It needs to be privatized. The transition needs to start with increasing the eligibilty age and means testing benefits. Afterwhich it needs to be merged into private retirement accounts. Whether you choose to be responsible with your money or not is of no concern to the federal government.
-Welfare: A safety net should exist for our poorest citizens. I am a firm believer in the decency of a social safety net, but it needs to be limited. It's recipients MUST either work or be involved in an education program to learn new job skills. It should also be limited to mitigate the chances or welfare recipients being on it for generations.
Health policy:
-Stop ACA
-Decouple health insurance from employment.
-Treat health insurance from an employer as taxable income to incentivize employers to NOT offer it as a benefit in lieu of higher wages.
-Minimize limitations on what non-medical practicioners can do and treat. Empower them to compete with medical doctors. I'm referring to Chiropractors, nurse practicioners, etc.
-Create advanceable tax credits to purchase medical insurance.
-Allow health insurance to be purchased across state lines. There is no reason this can't be done.
-Increase the amount of money that can be placed in HSA's tax free.
-Ensure that the tax credits are sufficient for everyone to purchase catastrophe coverage to protect citizens from catastrophic incidents.
-Block grant Medicaid and allow states to experiment on methods to increase it's efficiency.
-Begin transitioning Medicare into payment support as opposed to subsidized insurance. Means test the benefits. Ensure that no elderly patient can't afford treatment, but get the federal government out of specifically managing the insurance. Medicare is already looking at trillions in unfunded liability. It is bleeding money.
-Encourage high deductible plans to ensure that people are using insurance as it is supposed to be used. Coverage is for major expenses...not the sniffles.
Foreign Policy:
-Cut military expenditures.
-Close a good chunk of our overseas bases.
-Stop nation building.
-Stop most of the foreign aid. I have a huge issue with foreign aid when we are running deficits.
-I don't have much of an opinion on the military and foreign policy...But I don't believe that it is necessary to spend as much money as all the top twn largest spenders behind us combined.
Education:
-Pretty straight forward for me on this front...the Federal Dept. of Education should be eliminated. We really don't need a federal department....every state has it's own.
-Much stronger emphasis needs to be placed on vocational and technical training. Not everyone needs a BA in Theatre or some other garbage degree. Vocational training is very underrated.
-I don't have much else on education. It's not a "hot-button" for me.
Immigration:
-I believe the path to citizenship needs to be simplified greatly. I'm not very versed on immigration policy but I have a friend marrying a girl from Thailand and he has informed me of the process. It is INSANELY long and INSANELY expensive.
During a recession:
The government should ensure that money stays stable. That is all. The government doesn't need to "prime" or build up one end of the Aggregate Demand equation. All that a recession is, is the adjustment of a market error. The 2008 recession is a great example. The Fed held interest rates artificially low for way too long creating a bubble economy in housing (as well as lawmakers requirments on lending bodies to carry certain amounts of trash assets, which is for another discussion). Everyone knows that a house in 2000 that is worth 150k isn't worth 400k in 2006 with no major improvements. That is simply absurd, to believe that it would be. The interest rates being depressed caused businesses to take undue risks creating major malinvestments in areas that should have never been invested in. Credit was WAY to easy to come by and housing prices was skyrocketing. The recession itself was this error coming to fruition. The market naturally would have found a bottom, as it does in every instance. But the inflator in chief (Bernanke) felt that it would be a better idea to stroll in pump hundreds of billions into the economy to "soften the blow." I believe that this was a bad idea, because the market will correct naturally and it would have done so without 800 billion dollars being wasted.
Most of this not bad but your tax rates are too high. How about 10% for individuals and corporations with no write offs or deductions?
Most of this not bad but your tax rates are too high. How about 10% for individuals and corporations with no write offs or deductions?
I'm basing my figures off of a study from Cato. It balanced the budget very quickly and still allowed sufficient revenues for a safety net and other services.
I'm not saying I'm opposed to 10%...I've just never seen any literature to support the figure.
I'm only 19 and I've wanted to be the POTUS since I was a kid (and I still do). There are things that I like about both dems and repubs. Contrary to people's beliefs, democrats aren't evil and republicans aren't evil.
Here's my plan (I'm not saying that it's perfect, but it's a start and I'm willing to tweak it):
In order to expand the the economy we either have to print more money or buy back bonds. Expansion will lower the cost of living. By increasing money supply, the interest rates will go down, and consumers will borrow more and spend more and businesses will be enticed to borrow more and invest more. Central banks can attempt to lower the interest rate. This would essentially lower the cost of borrowing money. Businesses and households would respond by spending more.
Tools used by the central bank to influence the supply of money in the economy:
1) Open-market operations: Buying/selling of government issued bonds to increase/decrease the supply of money, respectively.
2) Reserve Requirements: This is designed to control the amount of lending the banking system can do.
3) Discount Rate: The interest rate the central bank charges its member banks for borrowing funds.
***By buying government bonds, we will increase the supply of money (predicted $488 billion).
Fiscal Policy → where government alters total spending via any one or more of the following tools
1. Increase in gov’t purchases
2. Reduce taxes (is like an increase in your income, and as your income rises you have more to spend)
3. Increase transfer payments to low-income earning households (leads to money available to low-income households)
During A Recession → Government wants to encourage more spending by expanding supply of money
When the interest rate falls, things become cheaper to finance which increases consumption and investment spending; which will increase aggregate demand.
I believe the major problem with our non-expanding economy is lack of jobs and lack of sale-able US goods. In the last few decades US corporations have been moving US jobs to Asia in order to get cheaper labor. And recently countries like China have been producing goods that Americans buy. And when our money goes to Asia it takes fuel out of the US economy
An economy is a network of consumers, suppliers, workers, and businesses. But perhaps the most important thing in an economy are its lower income consumers. When regular people spend money it stimulates the whole economy.
Examples,
When we go to the movies the money we spend supports the workers at the theater, it supports the businesses that provide the drinks and food to the theater, and it supports all of the workers who made the movie we see.
A very similar thing happens when we go out to eat at a restaurant, go to the skating rink, go to a bar, or go to a go-cart track.
And when regular Americans pay electric bills, pay insurance bills, pay a car mechanic, or pay a plumber, that payment supports the whole network that makes up that business that the payment goes too.
The only problem is that when Americans buy a TV, radio, cell phone, computer, or DVD player, all of those items were made in Asia, so the US money used to make the purchase goes to Asia. The money paid for those goods does nothing for America, rather it stimulates the Asian businesses and workers who made the product.
I think the most important way to stimulate and grow the US economy is to keep lots of money in the hands of US consumers, and also take great measures to see that Americans buy American made products.
Printing money is a tool that can be used in emergencies, but if too much money is printed it devalues the value of US currency.
I didn't want to get political in this post, but I am going too in order to cover the big picture.
The republicans believe in "supply side/trickle down economics" these are tax cuts for large corporations in order to give them money to be strong. Republicans do things like this,
The only problem is 100% of the cost of these tax cuts gets added to our deficits (because those tax revenues are lost.) And then the cost of the tax cuts gets added to our national debt. Then Americas corporations and rich use that money to build more US factories in Asia, replace US workers with factory robots, and the rich use that tax cut money to buy things like big boats and private jet airplanes.
The republicans in Washington say when we give the rich tax cuts it creates jobs for people. But the people who get those tax cuts already have millions/billions of dollars in the bank (they already have the money, or access to the money to create any new jobs they would want to create.)
And besides tax cuts don't create jobs, new customers and high demand products create new jobs.
Democrats stimulate and grow the economy by giving the poor, low income workers, and middle class Americans tax cuts. Then their spending stimulates and grows the whole economy (including stimulating large corporations.)
You said "Contrary to people's beliefs, democrats aren't evil and republicans aren't evil."
But in reality democrats are 51% evil, and republicans are 99% evil. You need around $950 million dollars in campaign money in order to run for president in America. These massive sums of campaign money come mainly from large corporations. This money has caused corruption to the point lawyers from large corporations write many of our federal laws. And CEO's from those corporations have been appointed into government agencies.
example, The head of the FDA (the agency that regulates our medicine) is often times a CEO from a pharmaceutical corporation. These CEO's then change policies in those agencies to make their corporations more money.
I only responded to your first and second paragraphs, if I would have responded to them all my post would have been (way) too long.
I would eliminate OHSHA. I would limit the EPAs authority to public property only. Get rid of equal pay and minimum wage laws and affirmative action laws. And Obamacare.
Cut taxes drastically. Get us out of NAFTA and other "free" trade agreements.
And I would stop making employers enforce immigration laws that the government has failed to enforce.
Basically, I would allow employers and employees the freedom to do as they see fit as long as they aren't hurting anyone else. Working in Washington does not give me the right to interfere in the employer-employee relationship. It is a mutually agreed upon contract and should be treated as such.
I had a class where we had to come up with our own plan to fix the economy. It was a copy and paste of my own work onto here. Some of my ideas came from reading my Economics textbook and others came from just personal knowledge.
The arrow is in Microsoft Word when you type the following without spaces: "- - >"
I'm skeptical of how he became successful. I'm reluctant to take power. I fear the hurtful comments, wrinkles, and gray hair.
He became successful by saving dying companies from going bankrupt. That seems like a skill this country could really use. Hundreds of thousands of people have jobs today for companies that would be out of business if not for companies like Bain.
Location: planet octupulous is nearing earths atmosphere
13,621 posts, read 12,731,507 times
Reputation: 20050
best thing for o to do is resign and let someone experienced take the helm..
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