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My prescription for what ails the U.S. economy:

· Extend the Bush tax cuts for one more year. Then phase in increases on the top two brackets. (Only 1 in 3 Americans favor keeping tax cuts for Wealthy)

· Require all corporations to pay taxes in the taxing jurisdiction they do business in. It would negate off-shore incorporation for the purpose of avoiding corporate income taxes.

· Move to a two-tier flat tax system for individuals. Steve Forbes idea.

· Eliminate Alternative Minimum Tax (NYSE:AMT)

· Reduce social security eligibility age to 64 creating more seniors with disposable income and thus creating job openings for younger workers.

· Go back and fix the unpaid Medicare prescription drug benefit by allowing the Government to negotiate better pricing with the drug companies.

· Poll all county engineers to see what water/waste systems, bridges and roads that need rebuilding and fund them at once with a stimulus bill.

· End the wars in Iraq and Afghanistan and bring all the troops home.

· Close bases on foreign soil in all countries with the exception of Korea.

· Cut defense budget by 25% based upon wasteful, unwanted and unnecessary programs.

 


via Mish: chart from The FY 2009 Pentagon Spending Request - Global Military Spending

 

· Create an RTC in order to recapitalize community banks currently unable to lend to small businesses.

· Double the SBA (Small Business Administration) budget.

· Implement a payroll tax holiday for the rest of 2010.

· Use TARP funds to fund FDIC for additional bank closures with no strings attached.

· Create US Department of Alternative Energy.

· Create a comprehensive national energy policy that partners with and helps fund development companies in clean and alternative energy.

· Begin construction of 25 nuclear power plants.

· Rescind the $45 billion tax breaks for the oil & gas industry.

· End Government farm subsidies, 75% of which go to corporate farms.

· Cover all citizens with a national health care system similar to Israel, Taiwan, England, and Canada.

· Eliminate the loophole of non-citizens accessing free health care through the ERs.

· Roll back tuition costs at our public universities for in-state students.