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Old September 8th, 2011, 05:46 PM
Rev22:17 Rev22:17 is offline
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Admiral
 
Join Date: May 2003
Location: Massachusetts
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Todd,

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Originally Posted by You View Post
So, what are your specific suggestions you would offer to help solve this all important issue. Please, keep politics out of it. Just concrete suggestions. This will by nature probably require a little on-line research as there is absolutely no simple short answer. Nevertheless for those who wish to try, the forum is now open.

Have at it!
You asked for it, so here goes!

>> 1. Enact a constitutional amendment limiting the federal income tex to a maximum marginal rate of ten percent (10%). I suspect that the scriptural tithe was set at this amount because it is about the maximum of the Laffer Curve.

>> 2. Enact a constitutional amendment restricting expenditure of revenues from excises that amount to user fees to cost of construction, maintanance, and operation of the respective infrastructure (including servicing of bonds issued to pay the cost of building or reparing that infrastructure). Thus, for example, the federal gasoline tax could be used only to build and maintain highways and aviation taxes could be used only to fund the Federal Aviation Administration.

>> 3. Enact a constitutional amendment requiring investment of all federal trust funds in commercial markets in a manner that is financially sound and that all positions held by such funds be voted in a manner that is neutral to the outcome of the vote. By way of example, the Social Security Trust Fund and the Medicare Trust Fund might be invested 50% in the manner of a total stock market index fund, 25% in the manner of a total bond market index fund, and 25% in the manner of an international monetary fund split among major currencies, with rebalancing. By "voted neutrally," I mean that if a measure requires approval by 2/3 majority to pass, that 2/3 of the trust fund's position is voted in favor of the measure and 1/3 of the fund's position is voted against the measure so that the outcome will be as if the shares owned by the federal trust fund did not exist.

>> 4. Enact a consitutional amendment limiting federal expenditures other than from trust funds to the average of the general tax revenues collected during previous five (5) fiscal years and restricting borrowing to(1) issuance of bonds for the construction or repair of infrastructure, provided that there be a trust fund with a dedicated revenue source to repay such bonds, and (2) issuance of bonds to fund the incremental cost of fighting a war declared by the Congress. This amendment should further require the Congress to fund armed forces and federal law enforcement at levels adequate to protect our national interest and to combat federal crime.

>> 5. Enact a constitutional amendment permitting the President to veto any amount of any line item in an appropriation without vetoing the whole bill.

>> 6. Enact a constitutional amendment forbidding the states from levying any taxes on interstate or international commerce other than excises that are substantially a user fee for services and infrastructure provided by the state. This amendment would prohibit taxes on the sale of any article or on the use of any article pruchased in another state, taxes on services provided to travellers (such as lodging and meals in restuarants), and taxes on transportation other than those used to develop, maintain, and operate infrastructure.

Norm.
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