Alternative Financial Planning to Revive a Flagging National Economy (Part 1)
We have conned the web boss to pay for lateral thinking business sessions. This involves dreaming up incredible ways to do Mr. Bernanke’s job-in cramped cubicles with stale coffee regrettably! You can join in from the comfort of your screen and at your leisure. Seriously, it is time to consider all financial planning implications of interest rate cuts. Clearly, they favor large banks and the like, because they get fatter margins, and prospects of higher business volumes as well. Do economically weaker sections of world society benefit proportionately, if at all? Is there more that governments can do for the people they rule? Here is a starter kit to get your creative juices flowing:
1. Tax outsourcing: why ship jobs abroad when you have unemployment at home? Are there some subjects, for which the home country has no educational and training facilities? What use are profits if there is cash to be made by handing out pink slips to the unfortunate?
2. Abolish income-tax for EITC beneficiaries and the AMT as well: Substitute revenue lines from the pockets of the poor with higher consumption taxes on luxury goods and services with low employment potentials: Swiss watches and French wine leap to mind, though such a tax sweep should not be racial by any means!
3. Cheaper and simpler healthcare: encourage generics made by efficient US manufacturers. Avoid the false economy of paying for copy-cat drugs made in foreign factories. Bring all proprietary and patented medicines under price controls to ensure that industrial researchers earn reasonable but not excessive margins-especially if they are owned and managed abroad.
4. Ask countries that are protected or benefited by US military action to pay for surges and other unplanned expenses. No one helps with our homeland bills, so our international security initiatives should have cash supports from all our allies, and from the protected country citizens as well.
5. Open negotiations with Iran as has been done with North Korea and with Libya earlier. This applies to assorted sources of threats to which we have no civilized access today. Irish if not Sri Lankan experiences should tell us that unbridled confrontation is simply unproductive.