Investor Political Priorities - A Survey - Part 2

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7) The Personal Income Tax: Is it enough to say that we tax pension and other retirement income, including the sacred pittance from Social Security. There have been many excellent, yet thoroughly ignored, tax reform proposals, including the elimination of all taxes on retirement and investment incomes. A consumption tax is the best and least manipulatable of the lot.

The next administration could earn an eight year gig by combining the various Flat and Fair Tax proposals (even 9-9-9 would be better than what we have today). The Fair Tax for sure would double total tax revenues, reduce price levels, create/save thousands of jobs, expand economic activity, and eliminate the free ride afforded the cash-only economy.

8) Regulate The Regulators: Every scandal produces new levels of regulations and additional cadres of secret police who raise business costs in the name of compliance with "da law". Countless hours of non-productive time are mandated by broad-brush policies and procedural requirements that do little to protect the consumer--- in many cases they simply annoy the people they are supposed to assist.

The compliance support and management industry (and compliance departments inside regulated companies) is the fastest growing, totally non-productive sector of our economy. We need to shrink and "economic-impact-study" the growing regulatory cancer and the abusive, power-hungry, American Gestapo that it has spawned.

9) Government Employee Benefit Packages & Term Limitations: Roll back, abolish, and do whatever is necessary to equalize Congressional benefit packages with those that are available to all taxpayers. Why does Congress have a fully funded retirement benefit program (and lifetime health insurance benefits?)?

Congressional Term limitations is the lynch pin to all of the reforms investor/citizens require. With it, positive change will occur quickly; without it, nothing at all will change. See how quickly we will eliminate the career politician problem if we outlaw the get rich quick nature of public service at the Federal level. 

10) Privatize Government Agencies and Programs: Start with Social Security, then the TSA, all local DMV operations, etc., and sub contract all service functions to private entities. I'm certain that there are hundreds of specific government functions, agencies, etc. where jobs could simply be transferred to private industry.

The operating principle needs to be that: "No product or service that can be provided to government by private businesses should be furnished by government employees."

11) Estate Confiscation: How can we justify a tax code that allows the government to confiscate private property? The very idea just has to be unconstitutional, or it certainly should be.

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Just one short of a "dirty dozen", this my abbreviated list of major issues that need to be dealt with (or at least acknowledged) by the presidential candidates. Where they stand on these issues will certainly influence our economic future.

Which is most important? I think that Social Security replacement surgery and the elimination of all taxes on retirement and investment income would have the biggest and most lasting impact.

Next for me would be the elimination of the Corporate Income Tax and pro-shareholder controls that "share the wealth" with company owners. What do you think?

Really, let me know what you think. Each of the issues on the list could be the subject of countless artices (and certainly have been). But none are even being talked about by the candidates. Term Limitations would make all of these changes easier to accomplish, but congress has too much of a vested interest in maintaining the status quo.

It's time to get more involved. Many people are saying that this November's election is the most important one of our lifetime. They might just be right.

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