Originally Posted by DougR.
1. Pass a balanced budget amendment requiring congress to pass a balanced budget except in emergency and wartime which would require a congressional supermajority to approve. A presidential line item veto power should be included as well as a provision requiring Congress to pass a budget by September 30 or the previous fiscal year budget would be enacted automatically.
2. All new programs must be revenue neutural.
3. All agencies should be required to evaluate each of their programs over a period of ten years and report results annually to the President for the purpose of determining their future and/or adjustments.
4. Repeal the Alternative Minimum Tax or index it to wage inflation.
5. Reform Tax Code to eliminate loopholes for both individuals and corporations.
6. Repeal Bush tax cuts for those with high incomes.
7. Remove the wage ceiling for Social Security and Medicare taxes.
8. Enact a minimum tax for corporations based on profits.
9. Reward companies who create jobs in America and penalize those who move jobs overseas.
Good ideas Doug and I do agree with them. The only things I would change are:
#5. Reform Tax Code to lower the corporate tax structure but eliminate "most of" the current loopholes for both individuals and corporations. Number 9 is creating a "loophole".
#9. Reward companies who create and "retain" jobs in America and penalize those who move or expand jobs overseas.
I am also a strong proponent of the flat tax.