We are the 99%. Here's why we're occupying your city and the cure for what ails our country:
1. We need to have a U.S. Government Bank. When we pay-into Social Security, our deposits for our future use need to gain interest at a rate of exactly 4% per annum.
That U.S. Government Bank needs to also allow us - the citizens of the United States of America - to deposit and save our own savings at an interest rate of exactly 4% per annum. No cap on deposit insurance. It's safe to save your cash - all of it.
That U.S. Government Bank will make 30-year fixed-rate mortgages at exactly 6% per annum. (The 2% "spread" is allocated as follows: .25% to Ditech.com for servicing, .75% for administration costs, and 1% for defaults.) 100% loan-to-value, fully-assumable with novation for the assignor. People with good credit can sell to people with no credit or bad credit, creating "owners" that were previously "renters"; the rich no longer leeching rent from them.
This U.S. Government Bank will create an 800-pound gorilla - a force majeure - that will stabilize one of the most important building-blocks of the U.S. economy: real estate. The fixed-nature of this financial titan will unempower a class of business (Wall Street) that currently makes money from market-swings and market-manipulation. Wall Street's financial manipulation creates no value for the American economy. It only makes a few people on Wall Street rich - sucking an exorbitant amount of cash out of our economy, weakening the economy. Wall Street makes money by creating nothing. They make money by exploiting uncertainty and the financially needy. There's nothing illegal about it, but this U.S. Government Bank will lessen their dominion over the financial markets.
Today, lenders are wisely risk-averse, as they see that property values continue to decline with no "bottom" in-sight. Very few lenders are lending money right now. There is simply too much risk in doing so. The U.S. economy is being buoyed-up with personal lending from Citicorp - at interest rates of 29% (enough padding in that rate for the inevitable defaults - of which there will be plenty. Americans have simply spent more than they make - and Citicorp is carrying their paper - at 29%.)
Creating a U.S. Government Bank does not force-out other banks. It simply competes with them. Whether you believe it's an unfair advantage or not depends on whether your ox is being gored. Wall Street created this pandemonium and is still profiting from it. The U.S. Government bailed them out, and then what happened? Fat bonuses for the rich, and no mortgages, no business loans and no consumer loans for the working-class. The U.S. economy is frozen. And as it unthaws, it's going to stink if we don't take corrective action now.
2. Lower the Federal capital gains tax rate to 7%. Tax consideration should not be a factor in the decision to sell property. Your Realtor gets 7%, so does your silent-partner, the U.S. Government (because they helped build the sewer, water and roads). Lowering the capital gains tax will make the revenue-pie bigger, even though the government's slice (percentage) gets smaller. This isn't trickle-down economic theory, it's "Domino Economic Theory"; a term coined right here at Bailout.org.
3. Implement a national sales-tax of 7%. Poor people earning less than $48,000 per year can get a card exempting them from paying - and the merchant from charging - this sales tax at the point of the transaction.
4. Eliminate the gift-tax. Rich people should be able to help poor people and not be penalized for it! Boyfriends should be able to give girlfriends cash without having to marry them in order for the transfer to be tax-free. Girlfriends should be able to give money to boyfriends tax-free.
5. Death Tax / Inheritance Tax rate should be
7%. Uncle Sam needs the cash, but it shouldn't be at a usurious rate.
6. Legalize gay marriage. The only reason it's currently illegal is because
big-business can save money by not having to pay health insurance for
"domestic partners". This is the truth. No one will tell you this.
7. Legalize marijuana and all drugs. Watch Ken Burns' Prohibition story on PBS and you'll
be outraged. Charge a $50 Federal annual fee for a "user-card". Terms for
obtaining a user-card are that the user must agree
to never drive a car or enter any roadway with any vehicle - powered or not
- within 5 hours of using marijuana. The message: It's okay to use, just use
responsibly. A $500 annual-fee dealer-card allows
those who want to manufacture and distribute marijuana to do so without
interference from the Federal Government, The Mafia, or other criminal
elements. Dealers agree to do business honestly
and can now join the Better Business Bureau. Legalizing all drugs eliminates
the criminal element.
8. De-criminalize/Legalize Prostitution. This will eliminate criminal enterprise and increase taxable
income for the U.S. Government. This worked in Germany, it will work here.
When we have a girlfriend/boyfriend, why do we have to marry them in order
to give them money tax-free? Pro sports figures often give their girlfriends
rings and cars which are often promptly sold - at a discount. Cash offers no
transfer-waste.
9. Implement a National I.D. Card. We need to know who's here and why. This will eliminate voter fraud, credit fraud, and allow the TSA to do their job more effectively.
10. The U.S. Government needs to take-over the U.S. Postal System. We need post offices to securely deliver documents and to implement the National I.D. card program.
Copyright 2011 - Bailout.org
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