New Detroit bailout plan

[emayer]

catchacab wrote:

The correct way to increase revenue that the government (federal, state and local) collects is not by increasing tax rates, but by growing the economy. Initially we would have to increase governmental debt, but after the program has met its initial goals we should be able to return to balanced budgets, and pay off our governmental debt completely.

Governmental debt should only be incurred in crisis (financial or war time), or to fund large scale capital improvements.

On a federal level, pork barrel projects that do not befit the country as a whole should be eliminated. These pork barrel projects if truly needed by a state, region or locality will now be undertaken by the state, cooperation of a few states or locality. The President and governors should be given line item veto powers.

Over time, if these plans are followed, we should be able to decrease the federal tax rate, state and local tax rates may increase, but overall the total percentage of a family's income that pays taxes should decrease.

Agree completely. Personally would favor some element of tax increase along with close budget scrutiny rather than additional debt to get things running initially. One point to consider adding to the program is the line-tem-veto. This could greatly help reduce pork and expedite legislation without all the bogus earmarks being added.

As for healthcare of the elderly, I agree conceptually with the reform but have to be extremely careful of its implementation. Health dollars are best spent on the young and for disease prevention which will ultimately reduce costs in the subsequent care of the elderly. With boomers entering retirement age, the evolving burden on our current system will be great. Any reform in elder care should focus on quality of life issues such as pain control for chronic disease, homecare needs, home visits to render care, access to medications, etc. which will help avoid hospitalizations and further reduce costs.