The “people who make things happen” can go on a fully peaceful spending strike until political reform happens.
If a new $300,000 house isn’t bought, governments lose about $100,000 in revenue.
If a new $35,000 car isn’t bought, governments lose about $15,000 in revenue.
Political reform means for me:
1. a flat “tax” of up to 10% to support the elderly and the sick with exemptions of earned income of $5,000/year and unearned income of $500/year (plus existing FICA tax on employers)
[Quotes are used for “tax” since taxes are meant to fund government operations, not people.]
2. another tax of up to 10% paid to support federal government operations, with exemptions on Congressionally set amounts of earned income (~$10,000/year) and unearned income (~$1,000/year)
3. a third tax of 20% levied on personal income above $50,000/year to pay off the national debt
4. repeal of Amendment XVII so federal senators are selected by state legislatures again
5. a new Fiscal Year Balance Amendment that terminates the terms of federal Constitutional officers (the President, the House of Representatives, Senators) at the end of the current term of the House of Representatives and bars the officers from getting federally related employment or payment if a federal fiscal year ends in the red
I know many of you won’t like 1, but 1 is basically the Ben Carson “tithe”. Ben Carson is right about the need to help people and to cap the funding and have just about everyone paying.
I agree, but so far they aren't taking the problem seriously. They are too preoccupied with all the latest diversions to recognize the growing threat directed at them.
Political reform means for me: 1. a flat “tax” of up to 10% to support the elderly and the sick with exemptions of earned income of $5,000/year and unearned income of $500/year (plus existing FICA tax on employers) [Quotes are used for “tax” since taxes are meant to fund government operations, not people.] 2. another tax of up to 10% paid to support federal government operations, with exemptions on Congressionally set amounts of earned income (~$10,000/year) and unearned income (~$1,000/year) 3. a third tax of 20% levied on personal income above $50,000/year to pay off the national debt 4. repeal of Amendment XVII so federal senators are selected by state legislatures again 5. a new Fiscal Year Balance Amendment that terminates the terms of federal Constitutional officers (the President, the House of Representatives, Senators) at the end of the current term of the House of Representatives and bars the officers from getting federally related employment or payment if a federal fiscal year ends in the red
Those are very good ideas, but I don't think we will ever get into a position where such ideas can be implemented. At least not until after some sort of social/financial cataclysm has occurred.
But it is a good target to shoot for.