No taxes earned income from bank accounts.
Get rid of most taxes in favor of a flat tax or a value added tax system.
Changes to banking regulation:
Max 80% LTV for a house purchase.
Max 80% LTV for a business loans.
Max 90% LTV for a secured customer loans.
Max 25% unsecured credit limit to annual income.
I like most of this. I like the eliminate income tax all together, then charge a higher sales tax, a higher rate/tax for a driver's license and to operate cars, etc. (in turn, I believe insurance rates would drop offsetting higher fees to drive IF law enforcement would follow up).
I would also like to see a limit/tightening of what some people count as deductions -- especially something to the likes of a 2 kid minimum. You could apply that to welfare payouts as well. I wonder how many poor, single mothers would continue to be a baby factory if they knew they wouldn't get a check beyond the second one?
All great ideas, I was thinking about the higher sales tax, and removing income tax. That would promote saving, and investing. Drop corporate taxes down to Irelands, and China's level, so no one else moves there business out of the country.
X1235468521 on the minimum deduction on kids, but I would definatly apply that to welfare. I would have welfare expire after two years, unless you are on 60% or more disability. Pretty much if you really, REALLY couldn't work.
ELIMINATE WELLFARE, AND MEDICARE FOR ILLEGALS!!!
I am not sure how good idea this would be, but no government school grants just because you are poor, and have more because you did well in school. Make it easier to get loans (poor, or rich), that you HAVE to start to pay off after four years after you get a degree. NO BS where you can keep going to school to not pay off student loans. You made a loan for X degree, you received the degree, within four years you have you have to start paying it back, NO EXCEPTIONS.
Anyone else care to add to this? Maybe we could patch the holes in our plan and post it up on a blog to Obama, lol.