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Varchild2008 (85.77)

Varchild's Jobs Recovery Plan

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December 03, 2009 – Comments (6)

I already wrote about my plan before at the beginning of year / end of last year.... numerous times...

But, I will do so again... because now Pres. Jimmy Carter II is getting set to introduce "PORKULOUS BILL PART DEU"  which is exactly like PORKULOUS BILL PART UNO.... just with a $300 billion price tag instead of $787 billion.

I can't wait for Senator Carl Levin to jump out and say, "We have to raise taxes in order to support this new Porkulous Bill" like he did concerning providing our Afghanistan Forces with the soldiers and resources asked for by General McChrystal to achieve victory over there.... *cricket*  *cricket*

Anyhow... Here we goooo...

Step 1)  SUSPEND the EPA:  I say the E.P.A. gets an Indefinite Suspension until the Economy Recovers...  We roll back all E.P.A. regulations and DUCK TAPE the E.P.A. from being able to make new ones...

In case anyone thinks the environment will go to heck... Hey... Guess what.... The CRU of EAST ANGLIA University have already proven with their Deception and Lies that CO2 is not a pollution and Man Made Global Warming is actually Michael MANN made up.

So??  We already scooped up a gigantic portion of the United States of America's Forests under the control of the Federal Government....  So an elimination of EPA regulations some how devastating the environment??? PAH LEASE.....  Not a chance....

What will happen with STEP 1??

A)  Off-Shore  Drilling   JOBS open up....    What with the price of oil heading towards $80.00... Now is a great time to start drilling for the higher gross margins that pricier barrels can provide.

B)  Encourages Foreign Investment...    Company's will have less reasons to not come over here and start a buisness to compete with American Businesses..... Thus hiring Americans...

Think about the Auto Industry and how difficult it is to build a vehicle under the ever increasing, ever stricter EPA emissions requirements...   Once those emissions requirements VANISH.... How long do you think it will take TATA MOTORS to move their Headquarters from INDIA to AMERICA??

Seriously....   TATA's got Landrover... They can now build Landrovers as cheaply as possible cause emissions restrictions are expensive to build towards.  HUMMER controlled by CHINA won't have to worry about emissions requirements....etc. etc.

STEP 2)  10% SLASH to the CORPORATE Tax Rate +  Simplify the Tax Code + Job Creation incentive for health care benefits.

A)  From 38% Corporate Tax Rate to 28% will make it possible for businesses to have cheaper tax rates without having to hire a Tax Auditing Agency to find the loopholes to bring the tax burdon down.

B)  Simplifying the Tax code means getting rid of all "loopholes" in the tax code because they aren't going to be necessary anymore.  It is much better to just have a Single Tax Assigned to Businesses that they have to pay.... This eliminates the "Mystery" that occurs towards the end of the year in which company's have to assess inventory levels + asset conversion to determine whether they have to lay anyone off...

Let's not get all crazy here.....  I say do away entirely with the INVENTORY tax.   Just have 1 TAX.... Call it the CORPORATE TAX... and make it say 28%.... and done!  No Federal Taxation on anything else!

C)  Let's put Businesses in a declining Tax Rate System where the company gets to enjoy a permanent tax rate reduction depending on whether they offer health care to their employees or not.

So... 28% TAX is what you have to pay as MAXIMUM...

If you're company offers health care benefits then you get 1% tax rate deduction every single year you offer those benefits...  If you pull the benefits you go back to 28% immediately...

And your tax rate can drop a full 8% maximum to 20% Corporate Tax Rate after 8 years of Health Benefits being offered.

Heck... We can take a page from OBAMACARE and say the health care benefits must include pre-conditions.... or what have you to comply with the Corporate tax rate deduction plan.

Step 3)  ELIMINATE Health Industry Regulations + TORT REFORM)    Yup kill all of them... Let's see how much job creation occurs in the Health Insurance industry when every Health Insurance company has to compete against each other..

No more monopolies in Alabama if Insurance company A  has to compete with every single other insurance company.... Cause all insurance company's in America will have the ability to sell their Insurance Plans to anyone in America... Across State Lines...

Furthermore... These company's can now design their health insurance plans any way they want without Government involvement to muck things up....

You want a plan that only pays for Catastrophic Care....and does not pay for your low cost drugs (like Prilosec), Doctor's Visits...etc.?  I know I do....   

TORT REFORM will easily bring down health care costs by reducing the need for defensive medicine.  No brainer....

Step 4)  Health Savings Accounts)   Let's allow as an option for Americans to donate a portion of their pay checks to an HSA.... They will own and control and manage their own HSA....

1 Government Agency under Auditing Authority by a private sector auditing agency can set up this HSA.

Step 5) Personal Investment Accounts)   In the same way as the HSA.... Make it possible for Americans as an OPTION to put a portion of their money into a PSA.  The PSA will be invested in a combination of BOND, Commodity, or Stock index funds of your own personal choosing and your own management.

The PSA will act as a supplement to the already insolvent Social Security Program....initially...

However.... once the PSA becomes strong enough it could potentially result in a drawdawn of the Social Security System.... I.E. If Americans prefer the PSA which they will and enough money has grown from everyone's PSA pools... to justify it.... a slow decline in the Social Security program until it is GONE would be warranted.

eventually  imagine this.... ZERO TAXES that you have to pay against your pay checks for Social Security regardless if you participate in the PSA or not.  Because if everyone is healthy enough financially through their PSAs to not need a Social Security program.... then why in the heck have one?

If you are working minimum wage.. sure... you won't have need to put money into a PSA... But once you land a career.... you will be using the PSA......

And the PSA has many other advantages.. such as completely making a 401K / IRA  program run by your Corporation that hired you obsolete.... Imagine Businesses never needing to have PENSION Programs because the PSA offers better financial gains?

The PSA should be set up exactly like an IRA account where you pay taxes up front so you do not owe any Taxes when you withdrawn them after you're retirement.....  You can also have the option to take out an emergency LOAN against your PSA if you need to..

Gee?  Simple right???  I think lots of Jobs will be created under this simply philosophy of DE-REGULATION and LOWERING TAXES and LOWERING HEALTH CARE COSTS.

6 Comments – Post Your Own

#1) On December 03, 2009 at 6:28 PM, Varchild2008 (85.77) wrote:

*CRAP*

I forgot to add something....  GET RID OF MINIMUM WAGE REQUIREMENTS!!!!

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#2) On December 03, 2009 at 11:37 PM, ChrisGraley (29.87) wrote:

All good stuff Varichild, but this is one of the few times that I would actually raise the minimum wage requirements.

I would raise them only for workers 21 or over though.

The key to a turnaround is actually job creation. An easy way to  create jobs would be to change the standard 40 hour work week to a 30 hour work week and raise wages by 25%.

This would quickly eliminate layoffs as companies would be understaffed right away. It would create inflation, but it would be a more productive inflation than bailing out financial institutions hoarding money. It would place a heavier short term burdon on our young people, but they are more equipped to work a second job if necessary. They will also get chances that they never would have got if they were competing on the same pay scale though.

If this was combined with the plan that you spelled out in your first post, we'd be well on our way to recovery right now.

Long term this will hurt us as it leads to the 3rd family job unless we can cut taxes more, but short term this is the perfect fix.

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#3) On December 04, 2009 at 9:44 AM, Varchild2008 (85.77) wrote:

You are going to create MORE job losses...

If Businesses are not allowed to hire at any labor rate then they are forced to lay people off just to pay for the ever increasing minimum wage requirements....

People want A JOB!!!! They want  A JOB!!!!!!   Preferrably a permanent one and not a TEMP Job that we have in today's jobs report...

You get rid of minimum wage and you create mass hiring sprees like no other.... And if you don't like your pay... There will be company's competing to have you with better pay.

It's call PAY competition.... company's will pay up for good employees.

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#4) On December 04, 2009 at 10:04 AM, outoffocus (23.32) wrote:

Well I have a few comments.

1. Your "PSA" already exists.  Its called a 401k.

2.  You say "Simplifying the Tax code means getting rid of all "loopholes" in the tax code because they aren't going to be necessary anymore."  Then later on you say "If you're company offers health care benefits then you get 1% tax rate deduction every single year you offer those benefits...  If you pull the benefits you go back to 28% immediately..."

So basically you want to take out all the loopholes...just to add some back.

3. You only mention lowering the corporate tax rate.  What about small business?  Sole proprietorships, Partnerships, and certain types of LLCs aren't necessarily subject to the "corporate" tax rate.  Yet last I check they supply most of the jobs.  Besides, most of the measures so far by the current administration have favored big business over small businesses.  How well has that faired?

Having all that, I applaud that you are at least thinking outside the box when to comes to creating jobs.  But we must realize that in order to "create a job" we must produce something.  In order to produce something we need innovation.  That innovation is not always found in established corporations who are at or near the end of their business cycle.  Therefore creating policies that only benefit those businesses is a waste of time and resources.  In order to get new jobs we need new ideas, and from those ideas, new businesses. 

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#5) On December 05, 2009 at 6:05 PM, Varchild2008 (85.77) wrote:

1. ur "PSA" already exists.  Its called a 401k.

Really???  WRONG!

The PSA is the device that would perfectly get rid of Social Security.

401K plans do not do that.   So you totally missed the entire point of my PSA deal....  You just don't get it.

2.  So basically you want to take out all the loopholes...just to add some back.

Err how many loopholes did I mention other than the 1?

And the fact that it lets you get a 20% rate is a full 18% better than the rate we have today....plus it fixes the health care problem.

I'm just trying to fomulate a Corporate Tax Structure that is as simple as I can get it that addrsses health care costs.

I think I did that.... 28%   +  chance to get it to 20% if you offer health care.

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#6) On December 05, 2009 at 6:09 PM, Varchild2008 (85.77) wrote:

3.   I'm not a TAX ATTORNEY...

I don't like the tax structure we have and the premise of my article is just to throw it out the window and start over...

Trying to argue about my points based on quoting how the system exists today is kinda missing the point.

When I say Corporate Tax Rate....   I am seriously saying that businesses... all business....   should have a single flat tax.

I am not favoring big business over small business when the entire intent of my article is that ALL BUSINESS gets 1 tax rate + a chance to lower it with health care offered.

*sheesh*

I couldn't care less how our complicated and ridiculous tax structure operates.... couldn't...

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