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chasineyes

How would you fix the economy?

154 posts in this topic

Looking for a little "common man" problem solving ideas. How would you turn this economy around. Cut taxes? Increase spending? I personally would invest in the states infrastructure. The first thing I would do is make 94 to St. Cloud 3 lanes, same for 35 to Hinckley. Then I would build a new beltline from Hastings to Prior lake around Waconia and up to Monticello. I don't understand why a semi from Chicago needs to go straight through the city to get to Fargo. I would like to cut taxes either corporate or individual. The problem I have with cutting corporate taxes is that they won't spend that money and instead use it to boost their "bottom" line. Maybe allow "TAXPAYING" citizens to not pay any income tax for 6 months? Don't what an answer is but it seems that just laying people off will accomplish nothing...

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I'll throw out some.

I would reduce the effective tax rates for companies small and large engaged in manufacturing or transportation. These are the jobs we have been losing.

I would increase the effective tax rates for energy companies not engaged in the pursuit of sustainable alternate energy sources.

I would increase the gas tax with half going to roads and bridges and the other half to subsidies for alternative energy development. This will move consumers behavior towards more fuel efficient vehicles.

I would do away with all farm subsidies for entities farming single parcels larger than 200 acres and cumulative acreage over 500 acres. Corporate farms don't need our help.

I would get rid of all ethanol subsidies to corn producers. Food to gas is not a good long-term solution. Subsidies to remain for non-food ethanol.

Remove commodity training at 5% margin. To say speculation played no part in the oil run up this year is in strict ignorance of the data.

Limit banks to 33% of the loans they underwrite to be packaged and sold. If the majority of the loans you fund stay on your books, you'll pay more attention in underwriting. All sub-prime loans must be held by the originating institution.

Raise the Social Security ceiling to $200K and remove benefits for those with incomes over $200K per year. This program is not a savings instrument and people making $200K per year in retirement don't need the government's help.

Remove the number of drugs requiring a precription such as common antibiotics, insulin or substitutes and cholesterol inhibitors.

Provide preventative health care for all children under 18.

Cease all grant in aid programs to countries that won't cooperate with U.S. interests.

Reduce funding to the U.N. to a percentage commensurate with GDP Size. Everybody who wants membership pays.

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Tom you have some good stuff here. I have to agree with most of it. Sans Gas Tax and SS thoughts. All I have to say on Social security is get off all the benifit payouts that are not for retirement. Stop using it as a welfare system. It was created to force us to save a bit to subsidise our retirements but payouts go out all over the board. Really this could be a whole thread so enough said. As for gas tax it's sold as a user based tax but it is far from that. Since every product needs to be transported everything you buy from needed items to luxury items get taxed along with that tax so it is just plain out and out inflationary. The hidden costs are very unfair. this is a system where we put in $100.00 for every $10.00 that goes towards it's intentions. Every price increase caused by it includes a profit margin increase. That's just a fact. So everyone but the payers get increased profits (and I am not just talking about oil companies) Every commoditiy sold gets an increase in per unit profit. The hidden cost gets multiplied. That system is pure inflationary from the get go. But like I say Tom you got some great points here.

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Can't argue with your points Zap.

I'd just like to see reduced dependence on foreign oil and pursuit of sustainable energy sources. Given the SUV trend this decade, I'm not sure Americans will go there without financial motivation.

The recent decrease in miles driven is a result of the economy, tightness of credit and job losses. The economy picks up and we'll be right back to relying on those who hate us to get from A to B.

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Looking for a little "common man" problem solving ideas. How would you turn this economy around. Cut taxes? Increase spending? I personally would invest in the states infrastructure. The first thing I would do is make 94 to St. Cloud 3 lanes, same for 35 to Hinckley. Then I would build a new beltline from Hastings to Prior lake around Waconia and up to Monticello. I don't understand why a semi from Chicago needs to go straight through the city to get to Fargo. I would like to cut taxes either corporate or individual. The problem I have with cutting corporate taxes is that they won't spend that money and instead use it to boost their "bottom" line. Maybe allow "TAXPAYING" citizens to not pay any income tax for 6 months? Don't what an answer is but it seems that just laying people off will accomplish nothing...

Increased government spending and tax cuts, I don't think the two go hand in hand too well. But wait, the pres elect has promised to do just this and save the rest of the world at the same time.

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most of this stuff is what you would do as opposed to improving the economy.

i would, cut capital gains tax, freeze federal spending, implement the flat tax, or a sales tax, develop america's oil resourse while using the tax revenue to research alt fuels, enforce the border, pull the US out of the UN, re-negotiate GATT and NAFTA

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oh...an NO bailouts no phony stimulus checks that borrow money from china. these never ending bailouts and borrow and spend habits are going to be the death of us

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Righty-O!

Nobody really wants to hear the true way to fix it because it involves discomfort and patience.

Let it burn and correct itself instead of being this overinflated pig on steriods that can't get enough fast enough.

Quit leveraging everything on promises that can't be kept.

My personal economy took a dive since last summer too but I adjusted and have it under control now. Ewww, discipline. That sucks.

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Interesting thought. I don't know if it's still up, but NPR had a fascinating exercise/game called "Budget Hero" to allow you to try to balance the national budget. It's an eye-opener.

As for me, I'd appoint myself king & do as I pleased. Most of you wouldn't be worthy to hear my plans. smile

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I'll throw out some.

Remove commodity training at 5% margin. To say speculation played no part in the oil run up this year is in strict ignorance of the data.

How would farmers/small business's then hedge?

Also, this would put all the power in only the people with the most money (big oil companies/Cargill is an example). Thus the price would more easily be controlled by them on any given commodity.

There is not much wrong with the current system (some things need tweaking). Oil was high priced for a couple of monthes and the natural market forces put it where it belongs very quickly as it has always in the past. For every buyer there is a seller---there is no conspiracy.

Margins are raised as the exchange deems neccesary.

If margins were raised significantly in the US---the business/trades would move overseas to a different exchange (Europe/Asia) and a huge amount of business leave the US overnight. They would gladly take it and leave us with yet another gigantic industry shipped out of the US.

I definately agree with some of your points but, not this one.

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You have to SLASH Federal Spending. It will mean loss of programs/facilities/resources etc. but the way we are doing it isn't working.

1. In my opinion.... you ELIMINATE the Welfare system OR since I have somewhat of a heart, you have to restructure it so it is used strictly for its intent. To help those that need it. I see, way to often, someone driving a fancy SUV paying for groceries with food stamps.

2. Limit our military activity. The DEFENSE budget is huge and the bottom line is, eventually one country will start launching rockets/missles/etc and more will follow and the rest our state of the art equipment will be useless anyhow. Half of the stuff we produce now is only necessary because we feel the need to be in everyone's business.

3. Big cuts to NASA. Other than satellite maintenance/improvement for communications and defense, do we really need to search MARS for life or send shuttles up so we can watch the astronauts do flips in space?

4. Get rid of social security. The PIG consumes more than it puts out. We need a privatized system that requires savings and investment. The bottom line is many of us are paying for others retirement, yet we won't have one when we need it.

5. NO BAILOUTS and LIMITED bankruptcy protection. What is really keeping anyone from trying to open their own business now a days? Nothing, really. There are tons of gov't. grants and programs to help with training and startup costs. If it doesn't work out, just file bankruptcy and your debts will be taken care of. There is plenty of $$$ rewarded to those who run a good business, but really no consequence to those who don't.

6. It has nothing to do with fixing the economy, but get rid of the political parties. It comes down to those with the most $$$ win. It is pretty sad that the dream of the founding fathers has turned into what they were running away from.

Lastly, we(government/consumers) have to quit borrowing for everything. It won't be long and we will have to give everything west of the Mississippi to China!

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Here is another thing that I don't get...The government wants people and business to save money. However when you save you get TAXED. HOw many companies have to "spend" their budgets/capital monies so they can avoid paying taxes?

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I would fix the economy by giving me a trillion dollars and I will spend it grin

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I'd listen to Warren Buffet

The theory sounds good, but I'm not sure he's the answer. Most the $$$ he makes nowadays is from buying stock in companies for pennies on the dollar. We don't have that luxury.

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I'm with Duffman.

Take Greed out of the Picture!

There should be a LAW against Greed.

If you get caught you do Not Pass GO and do not collect $200.00

And you DO get a GO TO JAIL ticket!

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Perhaps we should look at a 32 hour work week. That would more than absorb even the worst case predictions for the unemployment rate, cut down on the number of claims to unemployment and welfare, and give all of us more time to spend with friends and family.

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I'd give every man women and child in the country a check for $200,000.00 (tax free of course)...that would probably get the econnomy going(sure get me going grin) .....since were throwin money around anyways grin

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