Economic Policy Advisory Committee.
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Author Topic: Economic Policy Advisory Committee.  (Read 2096 times)
Ben.
Ben
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« on: July 19, 2004, 05:19:23 PM »



As Treasury Sectary I have many ideas about what to propose in relation to economic policy however I believe it would be prudent for me to create a “Brian Trust” with regards to Economic Policy to better inform my recommendations to the president.  

So if anyone has any suggestions as far as economic policy goes then please feel free to suggest them on this thread.

Some thoughts I have had regard welfare reform, tax cuts for middle and lower income groups and working family tax credits as well as tax cuts and incentives for business… but these are only broad ideas at the moment in a few days I hope to release a full report of recommendations for economic policy which I will send to the President and then other cabinet members and then post for all to see.

So any ideas please… I’m interested to hear what people have to suggest Smiley      
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StatesRights
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« Reply #1 on: July 19, 2004, 05:25:35 PM »

Ben this is my suggestion...

www.fairtax.org

Stop the IRS, NOW!
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TeePee4Prez
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« Reply #2 on: July 20, 2004, 02:07:48 PM »
« Edited: July 20, 2004, 02:08:32 PM by Senatorial Candidate Handzus26 »


Ehh, NO!!!  I'd definitely like to be on this committee.
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KEmperor
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« Reply #3 on: July 20, 2004, 09:51:04 PM »

A "Brian Trust" eh?  I love Monty Python's Life of Brian!
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Ben.
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« Reply #4 on: July 21, 2004, 02:33:06 AM »

A "Brian Trust" eh?  I love Monty Python's Life of Brian!

D'oh!
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TeePee4Prez
Flyers2004
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« Reply #5 on: July 21, 2004, 02:42:50 AM »

Here's my postion on taxes as stated before:

There seems to be a lot of animosity regarding this issue.  Of course I want more money in my pocket, but when there'a a deficit, tax cuts are a bottom priority.  I also feel the cuts were skewed largely to the top brackets (namely top BRACKET) being from 39.6 TO 35% while smaller groups got a much smaller margin.  Newsweek did an escellent articel on this and said that someone getting a million dollars would essentially get a brand new BMW every year.  

Another crock of BS are the reductions in capital gains and dividends (though I have a proposal on that).  Why should "unearned" income be taxed less than "earned" income.  One argument I can give to the GOP regarding dividends is the concept of "double taxation" and they're very right.  My solution would be instead of a corporate tax a retained earnings tax of say 15% flat while dividends and capital gains will be taxed at the individual's marginal rate.  I know I've championed progressive taxation in previous posts, but some firms are much greater than others and employ a lot of people.  I feel this is a fair and balanced proposal helping business and making sure executives pay their dues.

Another one is the estate tax.  I feel it should not be eliminated, but the exemption should be MUCH hihger and indexed to inflation to say $3-5 million for now.  A lot of upper middle class estates fall into this category and this was only meant to supermillionaires.

Lastly, the AMT is wrongly targeting the middle class.  Higher income individuals somehow dodge this burden; however, middle class taxpayers especially in high local income tax ares like most of the NE Corridor get trapped into this.  The exemption also needs to be fixed on this one as well.  
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TeePee4Prez
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« Reply #6 on: July 21, 2004, 03:02:14 AM »

Welfare Reform-

Our system should be a "hand up" not a "hand out".  There are many people that need welfare because of disability, but our current system creates a system of cyclical dependency.  There needs to be  less direct payments to recipients and more to job training and public works projects where suitable private industry jobs can not be found.  There still should be a system in place, due to economic uncertainties.  However, there should be initiatives taken to reduce what I call a "cyclical dependency".  These are the people who think that government handouts are a way of life.  Some people have no concept of what it is like to go and work for a living and their children follow suit.  Some of these people are given housing vouchers via Section 8 and they show their appreciation to their working neighbors by drinking 40s, smoking weed, and causing noise late in the night.  Here are some of my proposals in a nutshell:

 - Evaluate true need vs. laziness on a case by case  
   basis.  Time limits are insensitive.
 - Section 8 shall have no more than 8 tenants per 1/8X1/8 mile (two Philly blocks) area
  - Neighbors have a hotline to call to complain about unruly tenants.
  - Unnannounced inspections of Section 8 properties
  - "Three Strikes" and you're out regarding Section 8.  If there are such things as noise violations or drug problems by tenants recorded by police, the tenant is to be evicted.    

Hope I'm not too harsh..  From experience they're needed!
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Ben.
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« Reply #7 on: July 21, 2004, 04:32:05 AM »

Handzus your suggestions are duly noted, personally i find your recommendations on welfare very interesting, I have a lot of shifts at work this week but fear not the recommendations of the Treasury department will be released as soon as I can give it some serious time and consideration Smiley but in the mean time please elaborate on your ideas on welfare and lets have some input from others on the forum to...  
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TheWildCard
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« Reply #8 on: July 25, 2004, 06:16:53 PM »

I'd be interested in being part of this brain trust hah...

My personal opinion is any tax you can cut is generally a good thing, but you should not eliminate any major taxes that the government highly relies on.
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Ben.
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« Reply #9 on: July 26, 2004, 11:58:12 AM »
« Edited: July 26, 2004, 11:59:57 AM by Sec. Treasury. Ben »

   


: PUBLIC ANNOUNCEMENT :

The Final Draft of my reconditions for Economic Policy will be posted to the president and some time later to the Vice President and the rest of the cabinet on Wednesday Evening the next day these recommendations will be posted on this thread and then shortly afterwards I will issue a statement from the offices of the Treasury Department.

Thank you.  
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The Duke
JohnD.Ford
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« Reply #10 on: August 02, 2004, 04:25:16 PM »

Ben,

With oil nearing $50 a barrel due to the Mexican rig fire, perhaps the middle class tax cut could come in the form of the elimination of the gas tax.  Its basically a flat tax, and it hurts the bottom end of the economic spectrum the most.  If we cut it, we can get prices at the pump near or below $2 a gallon again.

Just a thought.
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Filuwaúrdjan
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« Reply #11 on: August 05, 2004, 07:52:42 AM »

Increase funding for the ARC
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Ben.
Ben
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« Reply #12 on: August 05, 2004, 12:42:06 PM »
« Edited: August 05, 2004, 12:42:43 PM by Sec. Treasury. Ben »

Ben,

With oil nearing $50 a barrel due to the Mexican rig fire, perhaps the middle class tax cut could come in the form of the elimination of the gas tax.  Its basically a flat tax, and it hurts the bottom end of the economic spectrum the most.  If we cut it, we can get prices at the pump near or below $2 a gallon again.

Just a thought.

Very good idea Ford... sorry to take a while to get back ta ya on it.

I will give the details more thoughts soon, but as things stand right now that is a very good idea, I was thinking that a portion of the taxcut could come from consumer goods, my hope being that while revenue will initially fall in the long term increased buying will mean increased revenue through tax.

But a good though... by the way did you get the email I sent off?
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The Duke
JohnD.Ford
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« Reply #13 on: August 05, 2004, 01:23:56 PM »

Ben,

Yes, and I double checked it before posting the gas tax idea.  I didn't see many specifics on what the targeted tax cut would be, so I threw this out there once Ernest posted his $50 oil story.
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Ben.
Ben
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« Reply #14 on: August 05, 2004, 02:37:08 PM »

Ben,

Yes, and I double checked it before posting the gas tax idea.  I didn't see many specifics on what the targeted tax cut would be, so I threw this out there once Ernest posted his $50 oil story.

Yeah, I mentioned that the very nature of any Atlantsian Admin means facts and specifics are pretty low on the ground... but then again it never hurt Ken Clarl (Conservative Economic Minister in the 90's in the UK who was famous for his lack of economic knowledge and yet overseaing a booming in the UK)... but i will deal with this when i speak to Gustaf next then I'll post some more specific recomendations...  
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