5 Ways the Next President Can Fix the Economy

Easy fix

There was an article from the St. Petersburg Times Newspaper. The Business Section asked readers for ideas on "How Would You Fix the Economy?"

One reader wrote:

Dear Mr. President,

Patriotic retirement: There's about 40 million people over 50 in the work force - Pay them $1 million apiece severance with these stipulations.

1. They leave their jobs. Forty million job openings - Unemployment fixed.

2. They buy NEW American cars. Forty million cars ordered - Auto Industry fixed.

3. They either buy a house or pay off their mortgage - Housing Crisis fixed.

Could it be this simple? They are bailing out the wrong people.

Ed of AL @ Apr 01, 2009 17:47:51 PM

fix economy

We can add 6 trillion Dollars to the Economy by allowing Taxpayers to borrow up to 20,000 dollars using there Social Security as Collateral. Repayment would be @ 6 % Interest paying about 360,000,000,000 back into Social Security. Payment amount would be relative to there age from 68 yrs of age. Money could be used to pay off high Interest Loans, Start Business, Purchase cars, Save Homes, Down Payments for Homes, buy Stocks etc. Handing out small amounts of money and calling it a Stimulus and totaling 600.00 to a 1000.00 will do nothing but take care of fuel, food or small purchases, then its gone.

stats of CA @ Mar 19, 2009 20:19:13 PM

Keith of CA

Hey Keith of CA, if you are concerned with giving "middle income" earners a break, then why not cut their federal tax liability by expanding the 15% or 25% bracket(or both). Cutting the payroll taxes and shifting the burden of paying for social security away from the lower and middle classes unevenly toward the upper classes is dangerous and socialistic. The intention of the now insolvent social security program was to provide a security blanket for seniors, widows, and dependent children--not fund the retirement of every single American. We have to expect the middle class to pay for its own retirement and stop thinking that the upper class can pay for everything. What happens when the tax bracket at the upper margins becomes so prohibitive that there isn't the tax base necessary to pay for social security, medicare, or anything else? Do you really think any elected official is going to pass the burden back to the mid-class once it is taken away?

T from New York of NY @ Jan 28, 2009 05:54:29 AM

reversing the deficit.

give everyone 21 and up,$100,000 dollars. they will spend it on everthing from auto's to homes creating jobs and stop everything and everyone from going under, and in turn reversing the deficit.

PETE of MA @ Jan 23, 2009 16:54:45 PM

fair tax

Fair Tax is the only answer. From the bum on the street to Big Corporations. All Americans should be taxed equally. Forget tax write offs. A Fair and Equal tax rate were everybody paid an equal amount in accordance to their income would free up a lot of capital that would create jobs, pay for education and

health-care and be an incentive for all Americans to do better and make more. What goes around comes around, but only if it is taxed equally.The penalty for cheating the system would a higher tax rate.

Our current money pyramid is upside down, you can not feed the top and expect it reach the bottom. You have to feed the pyramid from the bottom up. Just like a house you don't build the roof first, without a foundation or walls to hold it up. Where the hell did you go to school believing any corporation or goody two shoe would voluntarily hand the money down to the bottom 2/3rds are you a Republican or what? It's not the corporations that make

America great but the people. If you want a top that holds up you need to build a strong bottom to support it...Corporate Greed has got to go....

wes mullen of AZ @ Jan 04, 2009 22:52:43 PM

Eliminate corporate income taxes?

It would be brilliant but it's fantasy. The government is populated by politicians and bureaucrats whose existence requires the current system of wealth redistribution. The only way it's going to change is if it collapses under its own weight. The good news is that this is happening right now. That's also the bad news.

Dave of FL @ Jan 01, 2009 18:53:12 PM

Does anyone really believe this BS

Lets take a look at Conservative Economic Policy and its flaws.

Cutting taxes - The concept to this novel approach is that somehow it will increase the money supply and it will shift the increased, available money to those who can spend it most efficiently. The problem here is that in no way can cutting taxes increase the money supply. As for the second point, individuals do not spend money more efficiently than government. Individuals are more likely than government to spend their money on products produced overseas meaning that money can no longer circulate in our economy. Moreover, individuals are more likely to spend their money on entertainment than government, which has no lasting economic benefits unlike infrastructure or education spending. In short, individuals are far less efficient than government at spending money. That said, I am not a believer in socialism. Rather, I believe in a mixed market system that incorporates the best of both free market capitalism and social capitalism. The dynamism of free market capitalism is equally matched by its instability and complete inability to promote equitably societies. The rigidity of Social Capitalism is not dynamic enough to take advantage of human ingenuity, yet is able to provide equity for all of society. The flaws of these two economic systems can be greatly reduced and the advantages of these two economic systems can be mostly preserved by combining elements of each through loose regulation, government controlled momentary policy, progressive taxation, and limited social safety nets. Basically the correct system of economics is the type we elite liberals have been recommending from the beginning.

Michael of NH of NH @ Dec 25, 2008 10:30:48 AM

Employers and Health

These are all excellent ideas that steer away from the socialist cliches we hear all the time these days. Employers have no business to be in health care. It is a huge cost for them and a distraction. I have discussed how health is a drag on the economy at

http://kishorejets.typepad.com/us_election_2008_controve/health_reform/

Kishore Jethanandani of CA @ Dec 22, 2008 11:49:09 AM