|
My plan to hire 166,600 workers overnight & another plan to save the economy.
PLAN A: (Instant Worker Plan)
One financial criminal on Wall Street made 5 BILLION dollars in 2008. With that much money 166,666 people could get a job paying $30,000 an entire year.
Another financial criminal on Wall Street made 3 BILLION dollars in 2009. A whopping 100,000 people could be hired for a year at $30,000.
From what I understand, there are constitutional problems with retroactively imposing taxes on anyone. But if it is somehow possible, we need to tax the bandits who received billions while average Americans were losing their jobs, incomes, insurance, homes and retirements.
PLAN B: (Economic Recovery Plan)
President Obama and the democratic-controlled congress should reject and stop the Bush tax cuts that favor the richest 2 percent of our country. And on top of that anyone making $5 billion should be taxed at a 99% tax rate. That would leave the person who made 5 billion with only a 'paltry' $5 million.
Here's my plan for a new tax structure:
Gross Income: $5,000,000,000
Tax Rate: 99.5%
Resulting Income: $25 million
Gross Income: $1,000,000,000
Tax Rate: 98.3%
Resulting Income: $17 million
Gross Income: $500,000,000
Tax Rate: 98%
Resulting Income: $10 million
Gross Income: $100,000,000
Tax Rate: 94%
Resulting Income: $6 million
Gross Income: $10,000,000
Tax Rate: 85%
Resulting Income: $1.5 million
Gross Income: $1,000,000
Tax Rate: 70%
Resulting Income: $300 thousand
Families making less than $250,000 or less pay no taxes.
Individuals making $100 or less, pay no taxes.
I'm sure my plan would have to be tweaked some but since our country is in such an economic calamity I believe EVERYONE should be forced to share the burden, especially those who are at the top of the economic ladder.
Right wingers will whine and scream because it will hurt all of their political donors, (ie: pimps). They will say it will destroy innovation and money would dry up for new businesses. But just the opposite will occur. With more money going into the pockets of those making $250,000 a year or less, it would create an economic rebound because people would be able to buy things, which in turn would help businesses stay afloat and help suppliers and manufactures further upstream from the retailers. It would cause money to flow again which is one of the things that keeps stalling the economic recovery.
Right wingers also say that if the extremely rich have any of their income taxed it stops them from reinvesting their money in their businesses. But in the greatest economic expansion (at that point) in our country's history occurred when tax rates were over 80%. When tax rates are high the rich don't hide their money in huge interest bearing accounts and are forced to reinvest it in their businesses. So conservatives are dead wrong when they claim high taxation stifles innovation, business expansion and the growth of the economy.
Corrupt banks took billions from hard working Americans, but they are not releasing that money to help individuals, businesses or our country. They should be immediately forced to make loans to qualified applicants instead of hoarding it.
This plan would result in a huge boom for the US economy and at least all Americans would be sharing in the burden of getting our country back on the right track. But I don't think it's a 'burden' to tax someone making 5 billion a year at a 99.5% tax rate because he will still be making 25 million a year. And if he can't make it on 25 million in after tax income he has no business handling anyone else's money.
(Remember: This is just a general outline and the figures are just 'guestimates' on what the actual tax rates should be.)
|
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
