Thursday, November 15, 2012

Frank J for President!

Frank J Flemming, of imao.us, is going to run for president in 2016. I would like to be his Treasury Secretary.

I have several qualifications for the position:
  • I can add and subtract
  • I know that deficits = bad, surpluses = good
  • I know that debt = bad, no debt = good
  • I will propose that anyone who suggests an income tax be declared a traitor and executed on the spot
  • I have paid my taxes (unlike a current Treasury Secretary that I could mention)
  • I have a business degree
  • I have same first name as the current TS so we'd save money changing only the last names on the TS's cards and office door (I assume I'll get an office)
2017 Budget Proposal #1

Highlights:

Revenue:

Reduce all income taxes to 10% (with 0 exceptions or credits)

Maintain Social Insurance: $819 billion

Eliminate "other"

Expenditures:

Defense: $500 billion
Interest: $227 billion

Total expenditures so far: $727 billion

Social Insurance less Defense and Interest spending: $92 billion

Then the democrats can spend $92 billion plus all revenue from 10% income tax on anything.  We will remove all "mandatory" spending.  The democrats can spend all of total revenue, less $727 billion, on absolutely anything. (If they want to spend $1 trillion on abortions, or art, or education, or helping the poor, or whatever, then that will be okay.)

The benefits of my plan for the Republicans are: 1. a balanced budget 2. reduced income taxes and income tax complexity.

The benefits of my plan for the Democrats are: they can do whatever they want with the majority of the budget.
2017 Budget Proposal #2 

Highlights:
If we kept all revenue collections in tact, totaling $2.3 trillion in 2011, eliminated all spending except defense and interest on our debt, $927 billion, we could give each of the poorest 100,000,000 Americans a yearly check for $13,730 and still have a balanced budget.

According to the "2012 HHS Poverty Guidelines" the poverty line for one person in the United States is: $11,170.

According to the census bureau in September of 2011 there were 42.1 million Americans living beneath the poverty line.

If we kept all revenue collections in tact, totaling $2.3 trillion in 2011, eliminated all spending except defense and interest on our debt, $927 billion, we could give every American who lives below the poverty line, 42.1 million, a check for $29,783.  That is nearly triple the poverty line.
For 2018 I propose we study ways to eliminate all income tax and find other evenue sources, such as tariffs, which not many people would oppose.

Frank J for President 2016!

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