Implications of Federal Budget Deficits and the National Debt on the Future (Updated)

A few facts need to be presented at the onset of this paper: In 1980 the national debt was less than 1 trillion dollars. By the year 2000, twenty years later, the national debt was around 5.5 trillion dollars. The national debt doubled under the Bush administration from $5.5 trillion to $11 trillion dollars. During … Continue reading “Implications of Federal Budget Deficits and the National Debt on the Future (Updated)”

A Case for Congressional Term Limits

A few facts should be presented at the onset of this article: A person can only be elected to the office of President of the United States for two four-year terms. Members of Congress do not presently have any term limits whatsoever. Seventy-one (71) of those currently serving in Congress are 70 years old or … Continue reading “A Case for Congressional Term Limits”

Saving Medicare (Update)

A few facts need to be acknowledged at the onset of this paper: The Medicare payroll tax of 1.45% paid by workers and matched by employers currently brings in about $200 billion per year to the federal government. The current yearly cost of Medicare to the federal government is approximately $600 billion per year1. The … Continue reading “Saving Medicare (Update)”

Energy Policy: A Sensible Strategy for Addressing an Approaching World Oil Shortage Crisis

Proven world oil reserves are currently estimated at about 1500 billion barrels1. Current world oil consumption is approximately 33 billion barrels per year2. 1500 divided by 33 yields a result of around 45 years before proven oil reserves are depleted. The 45 year average consists of some countries with less than10 years of proven reserves … Continue reading “Energy Policy: A Sensible Strategy for Addressing an Approaching World Oil Shortage Crisis”

Why the “No Child Left Behind” Program Should be Replaced with the “Quality Education Initiative”

First, we all need to accept an indisputable reality of life.  Some children will be left behind.  If a tragic car accident occurs which leaves a young child totally brain dead but kept alive on life support equipment, the child will obviously be left behind.  No one would suggest that the child be main streamed … Continue reading “Why the “No Child Left Behind” Program Should be Replaced with the “Quality Education Initiative””

Corporate Taxation: A Better Way

U. S. corporations have been presenting the argument for some time that the income tax rates in the United States are the highest in the world. Income tax rates in the mid to high thirty percent range would indeed be too high if corporations actually paid such rates. The fact is that many corporations pay … Continue reading “Corporate Taxation: A Better Way”

Saving Medicare

The Budget Control Act passed in August of 2011 stipulates that failure of the “supercommittee” and Congress to act on further future deficit reduction will trigger across-the-board cuts of $1.2 trillion dollars starting in 2013. Most Medicare spending would be reduced by 2 percent a year1. Regardless of how the 2 percent a year reduction … Continue reading “Saving Medicare”

The Graduated Flat Tax — A Good Approach (Nov 2011 Update)

The method for calculating the amount of tax that any citizen would owe using my proposed graduated flat tax approach is as follows: The first $20,000 of income for all individuals would be tax free. The next $80,000 of income (amounts between $20,000 and $100,000) would be taxed at the rate of 10%. The next … Continue reading “The Graduated Flat Tax — A Good Approach (Nov 2011 Update)”

Saving Social Security

A few relevant facts are listed below: Over 2.5 trillion more dollars was paid into the Social Security Trust Fund between the years 1983 and 2011 than was paid out of the fund in benefits. The national government borrowed the surpluses and issued special series treasury notes and bonds to be repaid to the Social … Continue reading “Saving Social Security”

Jobs

There are now approximately 14 million U. S. citizens unemployed. Although jobs are the top priority of American citizens, the U. S. government is doing very little to create jobs. It takes gross domestic product growth of around 3% for a full year to reduce the unemployment rate by 1%. Most economists are projecting growth … Continue reading “Jobs”