How
to Stop the Recession
and Turn Our Economy Into the Largest Economic
While
Stopping Cold the Home Loan Sub-Prime Mortgage Default Crises!
1. Rebuild America’s Infrastructure Instead of subsidizing
billionaire bankers
In place of giving
2. Permanently terminate
the personal income tax and withholding from all wages, except
the foreigners.
If the American People were suddenly
allowed to take home 100% of their pay, it would jump start every local economy
in the country. People could pay their
bills, keep their homes, and help their family, friends, and neighbors. Or, start a new business. I
guarantee that American spending would resume at some increased level, and that
our debts will begin to be paid off, if the American People are allowed to keep
and enjoy the fruits of their own labors, rather than be forced to pay a tax
before it is even actually due by law.
One that is not actually due under the letter of the law until April 15th
of the next year. Why should the
American People be denied the use of their own money (wages), when no tax is
actually due to be paid under the letter of the law? Particularly when the American People REALLY NEED the use of their own money
because of their personal economic circumstances. Who can force a man to pay a tax or a debt
before it is actually due under the letter of the law to be paid
It’s MY MONEY and I NEED IT
If the true purpose of the income tax
is regulate the economy and to keep inflation under control – THEN FOR GOD’S SAKE SHOULD’NT THE
GOVERNMENT USE THAT POWER on BOTH SIDES OF THE EQUATION? When inflation needs to be controlled –
withhold the income tax. But when recession rules, and begins to become
a depression, and threatens to destroy our economy, and inflation is no
longer an immediate concern, couldn’t the government simply suspend the
withholding of income tax from citizens to provide a fresh supply of dollars to
the American people to stimulate the economy through spending, or at the very
least allow those persons who are really struggling to keep enough of their own
money to pay enough of their debts to stay afloat and keep their heads above
water? The government could effect or
allow these changes – but they won’t – because this ain’t
about you, IT’S ABOUT CONTROLLING YOU
3. Temporarily
suspend home mortgage loan interest rate re-sets.
The bankers should be
temporarily prohibited from further resetting any bank loans at higher interest
rates, and should be forced to roll-back rates on home loans going into default
because of a rate increase in the not too distant past, where it is not already
too late to help the homeowner. The
homeowners should be given 2 years to make some progress (or payoff) the
re-calculated (at the lower interest rate) debt on the last 3 – 6 months of the
default period, and after 18 months should be allowed to apply for federal
assistance in paying off that debt without losing the home. The federal assistance should of course be
based on the individual’s performance during the granted 18 month grace period.
4. Flat
Tax
The U.S. Supreme court ruled in 1916 in the Stanton v Baltic
Mining Co. case that the activities of
corporations in America are subject to indirect federal taxation, because they
are subject to excise taxes imposed on privileged activities, as determined
under the Flint v. Stone Tracy Co. decision handed down in 1911. The court held that the doing of business in the corporate form is the identified “privilege”, sufficient to serve as the
necessary legal constitutional basis for the application of an indirect “excise”
tax (authorized under Article I, Section 8, Clause 1 of the U.S. Constitution,
not the 16th Amendment) to be imposed on any and all of the business
so conducted (as a corporation). Now, in
1916 Congress taxed “income” not
earnings, so, ever since, the
intended corporate subjects of the federal income tax have been living
high on the hog, generating needless and excessive business expenses in order
to reduce or eliminate nearly all of the corporate profit, and “income”, so as to avoid paying any or
much tax on the company’s business.
Because of this Congressional communistic mistake in 1916, very few of
the intended corporate subjects actually serve as a meaningful revenue stream
to the U.S. government today, because there are no meaningful profits to tax
left after expenses are deducted and the bonuses are passed out and new cars
are perked and the paid trips to conventions in Hawaii, China, Paris, Rome, Las
Vegas, and Cannes are all accounted,
etc., etc.; and the government is therein forced to unconstitutionally (and
unlawfully) extract by extortion its
revenue funding from the Sovereign, We the People, rather than being able
to survive on the tax revenues of it lawful subjects – the corporations and
foreign parties. However, just as
Congress is authorized to tax the income
of the corporations on this basis, THEY
5. Means
test social security recipients and cut the tax in half
Social security was not originally designed as a retirement
savings program, or as an insurance program, or as a pension replacement, nor as the entitlement program that it has obviously become. It is a tax - that supports a welfare
program. By making this program an entitlement,
you virtually guarantee the eventual bankruptcy of the nation. By making this program an entitlement, you
completely reverse the intended effect of transferring wealth from the wealthy
to the poor, and actually transfer wealth from the poor to the wealthy and
middle class. Recipients
of social security dollars MUST be means tested, and if they have a net worth
of over x dollars (the exact amount (x) to be debated and decided by
congressional legislation) THEN NO BENEFIT IS PAID.
Millionaires and the middle class should not
be drawing down welfare dollars that were intended to be expended on the poor. If you means test the recipients, you can
reduce the tax to about (the employer's) 4%,
6. Privatize
Retirement withholding to allow personal investment in the stock & bond
markets.
This is the only thing, I repeat, the
only thing, in my opinion, that George Bush got right in the last 8 years. You
see, right now, THERE IS NOTHING AT ALL IN YOUR SOCIAL
SECURITY ACCOUNT. IT IS COMPLETELY EMPTY. IF you had been allowed to buy
stock with those "funds", you would have lost some portion of your
holdings in the recent collapse, but AT LEAST YOU WOULD HAVE HAD REAL ASSETS IN
YOUR RETIREMENT ACCOUNT instead of THE NOTHING that exists there now. There is no money, no assets, no real
holdings what-so-ever currently in your retirement “account”, which is really
nothing more than a worthless piece of fictional “accounting” printed by the
operator (the government), but not representative of any real holdings. JUST LIKE BERNIE MADOFF’s
operation. Wouldn't you like to have SOMETHING, instead of NOTHING, to retire
on? Think about it.
The government should keep the half of the social security fund
that the employers paid in as their matching half of the tax (matching 4%), but the
government should release to the citizens some control over at least a portion
of the half (4% of wage) of the fund that the citizens paid in over his working lifetime, for investment in T-Bills
and/or bond and mutual funds or blue chip stock funds.
Again, I guarantee that as these moneys flow into stock
market related investment vehicles and funds, the stock market decline will
halt and reverse itself, driving us back into another stock market driven
economic BOOM.
7. VERIFY
Medicare and Medicaid claims before paying them.
This,
you would have imagined, should have been pretty much both obvious and self-explanatory. Only the
8. Return
the issuing power to the People where it rightfully belongs, retire the debt
laden federal reserve notes, and begin issuing debt
free
OR, IT’S
A BIG SHIT SANDWHICH THAT THE BANKERS MADE FOR YOU TO
So, is it time to act, or do
you still just want to sit there and pretend the folks on Capital Hill and at
the Federal Reserve Bank are going to fix this mess? TELL SOMEONE!
TURN THAT
TURBO-CHARGED AMERICAN ECONOMIC ENGINE BACK ON!
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