Seven Steps to Fix the Economy
There are seven simple steps to fixing the economy, and you can be sure they won’t be taken because Obama is young and fresh and the Congress is old and bought. But here they are anyway.
First, reduce the work week to 24 hours. People can work three, four, or six days but not more than 24 hours a week. That would avoid layoffs and produce full employment immediately.
Second, ban employer-processed health insurance coverage and make basic, non-elective health care for every citizens available through an expansion of Medicare. This would lower the cost of providing coverage by 25% while disencumbering business of administrative waste, while it would make the nation healthier, physically and by relieving massive stress due to the worry.
Third, limit tax deductibility for all executive and employee compensation packages to $100,000. If a company wants to pay more, it’s up to them, but the taxpayers shouldn’t pick up the balance.
Fourth, cap all individual income tax deductions at $50,000 per year. That’s the median income in our country. Tax rates are ridiculously low for high-income earners; they used to be over 90%.
Fifth, add a dollar per gallon tax to gasoline to fund a Manhattan-type project to develop solar cells. Complement this funding with a 50% obscene profits tax on the petroleum industry.
Sixth, launch a rebuilding of the American infrastructure, from highway bridges to the Internet. This will not only put people to work, but it will create the foundation on which to build a vital new American economy.
And seventh, expand the school year – kindergarten through college – to 220 days as they have in other advanced countries. We have no future if our children lack the brain power to thrive in a global economy.
This isn’t a pipe dream. It’s common sense blocked by wealthy, entrenched private interests. So don’t try to argue with their logic. Take down the obstructions.
©2009 SetonnoteS
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