mrstickball said:
1. Cut federal government spending. Preferably by 35-43% (the amount we're borrowing). Do this primarily by cutting HUD, SNAP, both DoE's, and Defense spending. Reform medicare/SS as much as possible to save costs. I've talked to a lot of people about these issues and I would like if they could cut spending on these certain things. However, there's actually a lot less that can be cut before you're royally screwing certain people over. Such as for defense spending, the places that are usually cut are the payrates of soldiers and checks sometimes get sent to veterans for services they have received in the past. (EDIT): I believe the word I'm looking for was "compensation"
2. Enact either a income-based flat tax, or fair tax. Do away with corporate taxes. A very conservative answer, if I do say so myself. This would essentially be a form of regressive tax. A flat tax on income would impose a greater burden on the poor than the rich. This wouldn't be a very good idea in many cases, unless you don't really mind taking more from those with less.
3. Sunset Social Security. Allow the younger generation to invest their earnings in something else other than government debt. Is this something you want to add to our spending? If so, this would mean an increase in taxes, right? Or is this something that replaces our current social security system, which would screw over those who are currently on it for those who are currently paying for it? Either way, someone has to pay.
4. Adopt a sane monetary policy - one that doesn't simply print money at every turn. I believe this is a fallacy.
5. Reform and remove government regulations in every area of life. Promote a "regulation holiday" that would allow businesses to invest and invent new technologies without fear of government destroying their inventions. This is a fallacy as well. There aren't government regulations on every area of life. This makes it sound like the government has a tyranny over businesses. Have you ever heard of Monsanto?
6. End the war on drugs. Impose a reasonable tax on pot and other drugs. A very controversial topic that could do more harm than good.
7. Repeal (and do not replace) Obamacare. Force insurance companies to compete against each other over state lines, and promote freer-market reforms. What about "Obamacare" (Patient Protection and Affordable Care Act PPACA) is a problem, specifically? Our current health care system is broken. It's obvious by how large a simple hospital bill is, even if you were on insurance.
Do those 7 things, and we'd be growing faster than China.
I am not so sure about that.
By the way, tariffs and protectionism do not work. Don't believe me? Ask the Great Depression. Look up Smoot-Hawley and the effect it played on kickstarting the depression. There's a reason the stock market crashed in 1929 - the same exact day Congress took up debate on (actually) approving such an insane bill.
I don't know for sure whether or not tariffs or protectionism will work, but this is a different time. What gives you the impression that doing this now will have the same effects it had a long time ago?
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