A Solution for the Economy in the USA

Bill Gates has an estimated net worth of 60 billion dollars. He has 1/1000th of the 60 trillion dollar wealth of Americans. He should be responsible for 1/1000th of the debt of 16 trillion dollars. Bill Gates should be responsible for paying off 16 billion dollars. A lien of 16 billion should be placed against his assets. Bill should be given, say, 500 months to pay this off in the form of a mortgage. The principle on his mortgage would be 32 million per year. The same percentage would be paid by others in the top 25% (those with a family net worth of more than 1 million dollars). The top 1% would get a deduction of 1 million dollars; they would not be responsible for any government debt on the first 1 million dollars of their family wealth.

All Americans should be required to pay a ten percent sales tax on all things that can be imported whether made in the USA or not.  Products made in the USA are also taxed as with any sales tax.  Middle class Americans (those with a family net worth less than 1 million dollars) should not be required to pay income tax. They should, however, pay their full 15 percent social security tax.

The poorest 25% of Americans (those with a family net worth and incomes of less than $40,ooo) should consume no more government help than 7% of the GDP.  For example, it costs $300,000 a year to stay in a nursing home.  This is a potenial budget buster that is to large for American to pay.  If 25% of Americans were in nursing homes, the cost would be over $20 trillion/year – which is several times the national personal income.  The poor should not  receive more from the government than the middle class earns.  A budget, like 7%, should be made and enforced.

The government should, by attrition, cut back their expenses until they can live within their budget.

Corporations should be required only to make and provide jobs for Americans and should be taxed on the jobs not created.

The money supply should be adjusted to keep the stock market at least level.

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