I already posted it before.
"Shot clock economics." The term is from basketball, as an answer to the "four corners offense" (sitting on their money) run by the rich. It's a "use it or lose it" policy which requires the wealthy to continue to earn money, or lose it. It also ensures money will find its smartest home rather than its privileged home. Wealth should not be permanent.
1. Cut the T-bill to -1.5 percent, to punish the wealthy who hoard money. This encourages investments even in break-even companies which create jobs. The government keeps money safe for the wealthy and should be paid for the privilege, not pay others for the service. This cuts the deficit by around $600 billion a year all by itself. It also encourages job creation (see above). If people don't invest in the T, we print money and tax the public through inflation (as we're doing now).
2. Deregulate the private financial markets. The SEC is ineffective, but also used by Wall Street to market its investments as "safe," which drives up the cost of the T-bill, and creates a false sense of security. Enforce fraud laws of course. The private markets would then regulate themselves to attract investors, while those who don't feel qualified to invest in that jungle would move to the T-bill, as a "stupidity tax" of sort (merit, rewards the smart).
3. Consolidate government. Move all paper-pushing parts of government into one "Department of Administration" (DOA). Centralize tax collection (one form for all three taxes, with washington distributing the money to the states and localities). Centralize debt collection (Office of Citizen Debt or OCD). Reduce all these departments to the divisions of a few umbrella departments. Also vertical integration (things like the EEOC and state and local equivalents), by locating related offices near each other, even sharing staff. Not doing this causes bureacracy to become cripplingly expensive. Just saved another $100-300 billion.
4. Nationalized health care. It's cheaper, more efficient, and cuts costs. It also removes medicine from capitalism. People shouldn't lose fortunes just because they become sick. Medicine should be as easy to find as water, an equal right for everyone. Just saved another $300 billion.
5. Controversial: replace elderly entilements with "elderly welfare." Free food, housing, medical care for anyone over a certain age who needs it. Nationalized healthcare already covers this. This can be a way to give back for the rich to offset their greed. Savings is around $500 billion a year in Social Security benefits, which would no longer be needed. This might not even be necessary, as I've already balanced the budget with 1-4 above.
5. Shorten the workweek to 32 hours, paying overtime for anything above. This creates a four-day workweek (Monday-Thursday or Tuesday-Friday), or a five-day week with half-days on Friday (morning) and Monday (afternoon). Also creates a four-day weekend, which elevates leisure jobs from two days a week to fulltime. As we automate, there is less work to go around. This spreads the wealth and rebalances the economy. Saves a few hundred billion by reducing unemployment and creating a new economic boom as lesiure becomes more prominent, a logical reward for technology.
You can agree or disagree with my plan, but regardless, people should pay more attention to how individuals are drowned out by those brainwashed by the media.
Given what I see coming if we don't do this, I believe one day the public will take this seriously. I used to be an office worker and BANKRUPTCY PARALEGAL. Fixing debt is not difficult if one wants to, and my experience also helps me to make administration more efficient.
Full plan at link below.