Paul Krugman tells Us we are about to enter a new intellectual Dark Age. I feel this could be a fact only if academics refuse to consider adaptions simply because they do not meet established ideology. I do not know How to fight such intransigence, except to make one’s own declarations, and hope that Others will raise any valid arguments against the declarations within the morass of bull generated by any attempted difference. I therefore will outline my own Plan to straighten the mess which the World economy has assumed because of bad Spending patterns of both Government and Consumer. We need to both to cut the bad Expenditure patterns and force All to spend within their Means.
1) All Governments need Cash just to meet their current liabilities. I turn to one of the most efficient forms of Taxation ever devised–Tariffs. I advocate a uniform 6% tariff across the board on every Import, no deviation from that duty for any type of style of Import. Consumer and Business will import what Products and Resources they need, simply because of that need; meaning the quantity of such Product or Resource cannot be obtained within the domestic economy. Governments need the revenues to pay for their Expenditures, Consumers will pay the higher Prices because they must, and domestic labor finds a vast increase in competitiveness; solely due to the fact that there is 6% more potential Profit in domestic production. The uniformity of the tariff turns an great potential economic suppressant into simply an additional Operating Cost.
2) The second policy element stands as basically technical: Debt Service on Treasuries must be taken from tax revenues raised, while payments for Government Services, administration, vested programs, and Public Salaries must come from remaining tax revenues and acquisition of Debt. Congress must pass on any assumption of additional debt by majority vote established by the sectors outlined–each requiring monthly passage.
3) Congress should pass legislation requiring taxation of 1% on all Consumption debt which exceeds 3 years previous Income for any Individual; the Income taken from the filed Returns of the previous 3 years added, new labor given an exemption from the tax until 3 Income Tax Returns have been filed. Business and Corporation will be subject to the same Tax, only they are given 5 years of previous filings as limit, but must not exceed 5 times their current year filing.
4) Congress should pass legislation requiring all Welfare payments should not exceed a certain bi-weekly or monthly level established by Congress, no matter how many programs an Recipient may be qualified for–and I mean no greater amount despite the screams.
5) A national health care program should be initiated in the United States, with All subject to this program. It will limit the total yearly amount of medical underwriting of individuals, take away State liability for Medicaid Costs, pay for Emergency Services, and initiate average Cost medical insurance payments for medical services; eliminating the majority of Cost Accounting administrative Cost.
I could go on for hours, but I think I have caused enough consternation for the day. Understand that it is measures like these which will make a difference, else We simply await the collapse of our Governments and social systems. lgl