Friday, January 21, 2011
5 Realistic but politically unpopular solutions for fixing the US Economy...
1) Tax breaks go to corporations that hire new workers. Tax INCREASES go to corporations that refuse to. And you don't get the tax breaks Until you hire First. A 'job' would be one that pays minimum $14/hr full time. plus benefits. 'Burger flippers' do not count as employment.
* It's called carrot/stick. Give financial incentives to hire BUT make the financial cost of not hiring new workers at fair wages Painful to the company
2) US corporations must make at least 15% of the totality of their products domestically in the US using US labor. Those who refuse, are given a duty tariff of 25-50%. on their product. You want the American consumer, you must want the American worker as well.
* This concept works for all industrialized nations losing their manufacturing base. British companies that refuse to hire British workers have their goods tariffed; and so on...
3) A sincere Job-Creation stimulus bill where a full 100% of the money goes to the combatting the unemployment situation including very low interest small business loans and investment in start-up companies, education for long-term unemployed to brush up their computer and work-related skills, and extending benefits to 99ers for an additional 52 weeks.
*Not one penny goes to banks, Freddie/Fannie Mae, Wall St. or corporations.
4) Change the US income tax rates- you make:
$30k or less- No taxes- Zero- Zilch.
$30-100k/yr-pay 10%-30% range
$100k-$1mil/yr- pay 31-43% range
$1mil- $100mil+/yr- pay 44-75% range
* In addition, increase taxes on Wall Street earnings over $25,000 by 15%
5) A $1 Trillion dollar stimulus for everyday people--debt debit cards to the poorest 50 million Americans in the amount of $20,000 to be used to pay towards mortgages, car loans, student debts, credit cards, etc. This wouldn't be to acquire new debt but to pay down existing debt. The banks would end up being the recipients of the stimulus but it would also end up eliminating $1 trillion in total US individual debt
* It's called a "Trickle UP' economic policy.