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A Proposal to Fix the Deficit

by Peter Bjorn Perls

I was watching the Obama budget address on Youtube today. I wanted to post this, but they only allow unreasonably short suggestions, plus the submissions was closed at the time I’d written this. So here goes:

A) Cut military expenses by 75%, by ceasing all overseas military adventurism. End all government-to-government economic “aid”.

B) End corporate welfare by (apart from the above) by phasing out corporate entitlements and bailouts, as well as Medicaid, a program which essentially subsidizes overpriced Big Pharma products.

C) End federal income taxes while enacting in a federal site revenue plan in parallel with D), such that productive activity will not be punished and land speculation will not be encouraged. Make all labor income under 35,600$/y income tax exempt immediately, and increase the exemption yearly as the Federal Land Tax is phased in (suggest at a rate of 1 percentage point of assessed value per annum, following a budgetary need) to cover essential Federal services (*not* federal bloat and pork, which should be abolished to preserve efficiency, accountability and liberty).

D) Enable States to collect site revenue (Land Value Taxation) for their own revenue and essential social services, and encourage ending income taxation and investment taxation.

E) Supplementing B), end all taxation on labor and capital related to non-carbon based energy to enable a thriving (non-corporate hegemonised) marketplace for sustainable and environmentally friendly energy production.

F) Supplementing D) and E), phase in a carbon-energy tax on extraction and imports of coal, natural gas, crude oil, gasoline and other carbon-based energy sources to encourage adaptation of alternatives and to encourage energy efficiency, as carbon based energy sources are the Achilles Heel of the US, and an increasingly expensive for each year that passes now that it seems clear that we have passed the peak of global crude oil extraction.

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4 replies »

  1. One error in the above:

    It is Medicare Part D that “essentially subsidizes overpriced Big Pharma products.” NOT Medicaid. This is entirely different, having nothing to do with the Pharmacology branch of The Corporate Oligarchy.

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