Guest post by Edward Eubanks:
To solve the financial and political crisis we find ouselves in currently, I would propose the following strategies.
First, pass into law a national sales tax. This tax would be fair to all. The wealthy and those having high incomes spend a lot of money and would pay more tax. Those who are not wealthy, spend less and thus pay less tax. The underground economy would then become a source of tax revenue. Illegals, construction workers anyone working for pay “under the table”and even drug pushers in essence begin paying taxes that they currently avoid. Foreign travelers who come to the U.S. then also help to pay for the amenities that the U.S. has to offer and which entices them to come here. It is also the fairest of tax programs. ALL citizens help pay for the needs of the country not just the current 50+% who pay all the income taxes while the other 50% pay nothing. Corporations also would then be paying a fair share when they buy supplies or materials needed to run their companies.
The second strategy is to pass a balanced budget amendment. The government then has to do what we families have always had to do, live within our means. No extra money, no credit card, no luxuries and less waste by the government. The priorities would be paid for first and unnecessary spending would be limited.
Third, laws should be passed to prohibit earmarks by any senator or representative. All spending has to be passed by a vote. This will stop influence being purchased by lobyist and will curtail vote buying by politicians making promises they can’t fulfil. I would also require all meetings, both in committee and with lobyist or constituants be on video and posted daily on each congressmans website. Failure to comply with this law would result in immediate expulsion from congress. This would force transparency by our elected officials. Our problems have been caused by our politicians who have been unable to say no to any spending which they feel might buy a vote.
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Edward Eubanks lives in North Carolina.
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This guest post was submitted in response to my query about how the best way to deal with the current economic situation. This post does not necessarily reflect my thoughts and feelings nor do they represent any views held by Forbes.
Your comments and reactions are, of course, appreciated. Just play nice. I have standards. And I don’t want to have to delete you.
