Posted on 07/05/2010 8:17:06 PM PDT by Bigtigermike
She comes to office in January of 2013 with three priorities in economic policy. These are restoring the health of the private nonfinancial sector, putting entitlements on a sustainable path, and reversing the trend toward centralization of power.
1. A tax bill eliminates the corporate income tax and the employer portion of the payroll tax. It eliminates the tax deductibility of mortgage interest and employer contributions for health insurance.
2. An entitlement reform bill limits Federal spending on health care and social security to 10 percent of GDP, using these proposals or some equivalent.
3. Obamacare and Dodd-Frank are repealed. In health care, a voucher system is designed to subsidize people who are very poor and/or very ill. FHA, Freddie Mac, and Fannie Mae will have their maximum loan limits reduced to zero over a period of three years, phasing out those agencies. Financial reform will consist of requiring financial institutions above a certain size to have private partners with substantial personal equity in the institution. Banks operate more safely when they are partnerships than when they are public companies.
*Please keep in mind that I composed this post in my head while riding my bicycle on this very warm day. I am not responsible for any hallucinations that might be attributable to heat stroke.
(Excerpt) Read more at econlog.econlib.org ...
Hope you're okay
1st hundred days? You should have gone all the way and wrote about her farewell address in January of 2021.
I’d be satisfied with the completion of a border fence from CA to TX. 100 days is more than enough time if there’s the will and the resources allocated. Definitely enough time to make signifcant progress if not finish the entire thing.
I’m sure there’s more that could be done but that would be one solid achievement.
'Cause every day I wake up until January 20th 2013, a Communist is in the White House..
Seriously, if this is all Palin accomplishes in her first hundred days as president, I'll be disappointed. She didn't just languish about like that when she became Governor of Alaska, she hit the ground running, kicked ass and took names.
What you've listed here, with a Republican Congress, she can get done in a month or two, tops. Seriously. Expect more. She's a typhoon when she gets moving.
;-)
Let see:
1. She won’t favor parts of the first proposal as she would want to encourage home ownership not further harm the housing market. Additionally people have relied on the mortgage interest deduction and purchased houses based on it. The public would not like such a change.
2. Two can not happen until Obama care is repealed. One of the fundamental objections to Obama care is that it is telling an aging population they can not spend their money to prolong their lives. Before government spending is capped for health, the government must become much less involved in the health care system. As for social security, again people have made decisions based on its existence and would not want it capped. A more likely reform would be to index the retirement age to life expectancy.
3. Possibly Obama care will be repealed at least in part. Again a fragile housing market means that Fannie Mae and Freddie Mac will not be phase out in 3 year, but they may well be reformed. I suspect that Dodd-Frank would not be completely repleaded but changed maybe changed dramatically to deal with Fannie Mae and Freddie Mac and the government role in the housing bubble.
So I think a more modest and reasonable set of goals for the first 100 days are:
1. A cut in income tax rates at least back to the Bush levels. A cut in the capital gain rate would also be a plus.
2. Privatizing any formerly private corporations the government still owns.
3. Finish building the fence on the southern border.
4. Changing if not completely repealing Obama Care.
5. Openning up more US territory and governmental lands for oil exploration.
Why is this in news?
How about:
1. Eliminate all corporate taxes.
2. Eliminate all capital gains taxes.
3. Cap the personal income tax at 10% of gross income.
4. Elimnate all Federal Government spending on Education, including eliminating the Department of Education.
5. Over 10 years, eliminate all welfare at the Federal level.
Fix most of the ills with the FAIRTAX.Getting the gubminy out of our back pocket.
1) Seriously look at MASSIVELY overhauling our income tax laws to either reduce to as simple as Steve Forbes' flat tax plan or even phase it out altogether in favor of the FairTax national consumption tax plan so it encourages American citizens and businesses to keep their savings and capital investments in the USA. We spend US$300 BILLION per year in compliance costs and currently have may be possibly as much as US$13 TRILLION in American-owned liquid assets sitting in offshore financial centers beyond US borders to keep them out of the reach of the IRS; a change in tax laws like the proposals I mentioned above could bring most of that back, a "private bailout" of unprecedented size that will immediately revive the US economy.
2) Reign the excesses of Wall Street far beyond the current financial services reform bill. The real reform should include the following:
a) Require real liquidity backing to trade in hedge funds, derivatives, credit default swaps, etc. or just ban them outright as too financially risky.
b) Increase the minimum marginal requirements for index, stock futures and commodities trades from 5% to 15%, with a 25% minimum for crude oil, natural gas, certain petroleum products such as unleaded gasoline and diesel fuel, certain foodstuffs such as corn, oats, rice, soybeans and wheat, certain industrial metals such as aluminum, copper, iron, nickel, and titanium, and precious metals such as gold, silver and platinum.
c) Revise the rules for credit rating companies such as Moody's and Standard & Poor's for more accurate credit ratings.
d) Change the Sarbanes-Oxley Act so it encourages more corporate IPO's.
e) Reimpose the 1933 Glass-Steagall Act to "firewall" banking and investment operations to protect bank assets from the ups and downs of the stock market.
3) Audit EVERY Federal, state and local government agency to look for bureaucratic overlap and agency bloat so we could cut the size of government by 30% at minimum.
In my humble opinion, our income tax system is discouraging real economic growth, Wall Street is taking TOO MANY financial risks in terms of investments, and the size of government is just too big, period. Palin as President MUST to correct all three issues if we want real economic recovery and growth again.
Sarah Palin has a future as a political commentator and public speaker making lots of money but I predict she will never again be elcted to office.
Sarah is fighting the fight and is free to do so rather than fight more of the 20+ frivolous law suits, all thrown out of court.
The left wing bloggers and others were attempting to keep her from business and costing her over $500,000 in legal fees.
Resigning is a bogus argument when you can’t address the issues.
That game can be played with many wannaBies.
Huckabee quit one of his hick schools.
Romney quit on his country sitting out the Vietnam war in part in Paris.
Sarah Palin’s son who is in the Army has served in Iraq.
Romney’s 5 sons have never served in the military.
hands off my mortgage deduction
I’d be overjoyed if she could do these:
1. If she can’t constitutionally repeal the income tax - simplify to 8 lines: 1)name, 2)address, 3)city, state and zip, 4)gross income, 5)10% of gross, 7)less # of dependants X $2500, and 8)money owed (if more than zero). No more schedules or handouts.
2. Eliminate departments in order of ineffectiveness: Separtment of Education, Department of Energy, H&HS, and so on until you have Departments of Defense, Treasury, Labor & Commerce combined, Internal Security (Homeland & Interior combined),and Justice.
3. Drill, baby, drill.
4. Secure the border, by any means deemed necessary - up to and including nulear weapons.
5. Win the wars and bring all our troops home - including those in Europe and Asia.
From Seward to Sarah.
In other words, nothing to reduce spending or the size of government.
That's two of the three proposals I mentioned. 
But my proposal to reign Wall Street still stands. An uncontrolled Wall Street caused BOTH the 1929 and 2008 crashes (does the name Goldman Sachs ring a bell? This investment company was in many ways the cause of the 1929 crash and definitely contributed to the large number of economic problems around the world today), and too much unfettered speculation has disastrous consequences, as we have shown through history. Indeed, the 1933 Glass-Steagall Act actually helped stabilize the financial system, and if FDR had NOT raised taxes in 1937 the US economy would have been fully recovered by 1940.
I suggest a tax overhaul with the 1st $10,000 taxed at 10%, next 40K at 15 %, and over 50K at 25-28%, repeal death tax, 0 capital gains tax, restore tobacco tax to more sensible level or eliminate, possibily reconsidering this one after a time. Ho Hum, got up too early. From Seward to Sarah, good day.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.