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Most economic research suggests that tax code replacement surgery is essential for long-term economic progress. The purpose of my plan is to ensure that they do not complain of ten years of the same things that trouble you today. It is a fifteen-point plan to end the cycles of frustration economic and global disrespect during this administration.
In all instances, regulatory services will be needed to ensure implementation consistent with the intent of the new code. Any person or entity that takes advantage of loopholes in the new rules, or manipulates normal operations to match the new definitions will be fined. Their legal and tax advisors, if any, will be responsible for 60% of the fine.
One Establish a Disaster Relief Fund for victims of all forms of natural disasters in the U.S..
Two. Remove all goods and gift.
Three. Appoint federal supervisors for the Board of Directors of public companies to pay annual salaries of more than $ 3 million. Board members, corporate attorneys and financial officers should assign a performance incentive compensation on a dollar for dollar for all employees, including part-timers but excluding beneficiaries minimum wage.
Four. Examine the economic impact of government regulation and oversight in many industries, including professional small businesses in the fields of service personnel. Provide a system of arbitration and review to identify and control abuses of regulatory power and a department separately within each agency to deal with small businesses.
Five. Reduce all import tariffs to zero for countries that reciprocity and ensuring the quality of its exports.
Six. Eliminate the Corporate Tax and create auditing entities to ensure that the savings translate into new jobs, higher salaries for non minimum-wage workers, commodity prices lower and higher dividends to shareholders.
Seven. Abolish all taxation on any form of investment income, including rents, royalties, interest, dividends and capital gains. Increased Federal sales tax by 2% once numbers 8 and 9 have been implemented.
Eight. Abolish all taxation on any form of income retirement.
Nine. Simplify the Internal Revenue Code to adopt a fair tax of 10% for all persons with annual income for employment above $ 40,000. Eliminate all forms of tax deferral and stock option programs that are not available in proportion to each employee Company. State and local taxes are subject to a flat 4% of household income above $ 80,000. The tax avoidance schemes would also be banned — 10 years retroactively.
Ten. The mandate of a ten-year limit for all members of Congress, retroactively, and impose a mandatory retirement age of Supreme Court judges. Reduce the compensation of the congressional staff of taxpayers by 50%.
Once. Reduce staff government in all departments and at all levels at least 10% per year over the next three to five years. Reduce 50% the number of filled jobs Government by presidential appointment.
Twelve. Tort Law Reform at all levels, and protect both businesses and individuals from frivolous lawsuits. Adopt a standard of personal responsibility for their own stupidity and clumsiness. Submit all product liability claims for medical malpractice, and demands personal responsibility to qualified arbitration panels instead of juries. Class action lawsuits to ban all kinds and cap jury awards and lawyer compensation 50% lower average levels.
Thirteen. Institute a 3% federal sales tax on all goods and services purchased by end consumers, but VAT no. Subsidize a universal basic health care health insurance and public education expenses from sales tax plus 5% tax personal annual income, of any kind, in excess of $ 5 million. Cap State and local taxes at 3%. Eliminate all nuisance taxes in utility bills public, hotel room charges, gas prices, etc.
Fourteen. Mandate that no less than 50% of all self-directed benefit plan Working Capital are invested in government securities, and not qualified for withdrawal until retirement. Bring all alternative investments (options commodities futures, mutual funds coverage, etc.) under the supervision of the SEC, and subject to the same suitability standards as RIA's recommendations.
Fifteen. Take Social Security the public sector and replace it with a mandatory, deferred benefits, fixed, single-life annuity program managed by the providers of income existing annuity. Employee contributions would be reduced by almost 50% and employer contributions eliminated over a period of five years of immediate — for self-employed. The participants have no investment discretion or access to funds until retirement.
The writing Wall (street, that is), and is telling us that we need to reaffirm the United States as the dominant force in the global economy and we must do more to protect our citizens' retirement and investment programs.
The plan outlined here is investor and ecological economics. When jobs are lost, new entities will be needed, based on the premise that regulated capitalism can work well. As buyers and homeowners, as retirees and employees, entrepreneurs and investors, this is the reform plan we need.
Is it real? Could be. The investors represent the largest voting bloc in the country. We elect the next president, change the tax code, fix Social Security, and strengthen the economy. Please we were the most apathetic group of people on the planet. As investors, we want less government, lower taxes, and regulation of a purpose. We want laws that freedom of economic aid, and legislators and judges who facilitate it.
Survey Question: What is vote for the person with the courage to propose this plan?
About the Author:
Steve Selengut
Sanco Services
Kiawa Golf Investment Seminars
Author: “The Brainwashing of the American Investor: The Book that Wall Street Does Not Want YOU to Read” and “A Millionaire’s Secret Investment Strategy”.
Article Source: ArticlesBase.com – The Obama Tax Reform Plan For Long Term Economic Growth?
