Monday, November 29, 2010

My own version of the S.A.N.E Act

Now compare the Yes Men Version with this one and which one would make more economic sense
http://www.nytimes-se.com/2009/07/04/sane-economy/


Value Wages. Alter the minimum wage and overtime system to allow certain basic jobs to become more flexible to meet the needs of businesses and individuals and promote greater employment and reduce prices, thus increasing the value of wages

Busts Trusts. Breaks up financial conglomerates and reinstate the 1933 Glass-Steagall Act keeping investment banks and commercial banks separate, in order to reduce speculation. (exempting credit unions and financial coops)

Taxes Speculation. Passing a federal real estate tax to act as a limiter on housing price bubbles and to discourage speculation in the housing market and also require securities trading facilities to pay an excise tax on a specified percentage of the value of securities and commodities transactions to help hinder excess speculation on the securities exchange

Make all LLCs and LLPs “Serial”. Passing a federal uniform bill to make all states and DC to make all LLCs and LLPs “serial” (entities provides liability protection across multiple "series" each of which is theoretically protected from liabilities arising from the other series.) to grant greater incentive for businesses to invest and greater entrepreneurship</span>

Promote Coops. Make Coops more easier to understand and form by distinguishing from other entities as a separate form of doing business with unique set of tax forms and adjustments to the Tax code to make it more easier to set up and form Coops. Also provides capital to Coops by allowing them access to SBA loans.

More Local Services. Allow county and city governments to form and become members in coops or coop like systems to provide services to the locals if the locals want them to compete with businesses.

Increase Low Income Housing. Create federal income tax breaks and grant 50% Tax Credit for those who invests in real estate to rent out housing to provide greater incentive for those to provide housing on all income levels for rent, which in turn lowers rent

Support Credit Unions. Require states to lax regulation on credit unions and financial coops, allowing them to more easily provide services among other states such as insurance and loans. Also all federal government branches and offices would be required to place all funds in local credit unions

Free Inheritance. Set laws to prevent the Federal government from taxing and to interfere with how one choose to give out in inheritance and prevent anyone from disrupting the will of the deceased

Sets Emergency Tax. Provides for an emergency surtax on commercial and investment banks in case of future financial meltdowns, to further discourage the sort of reckless speculation that fueled the latest banking crisis.

Support Small Businesses. Increase capital for small businesses via providing more SBA loans and offer more online resources and online course for anyone to learn how to start, run, and improve businesses

Privatized Retirement. Abolish the 401ks, IRAs, and SEP IRAs and replace with one RA (Retirement Account) and allow anyone under the age of 30 and those who wish to give up social security to place 5 to 10% of pretax income into this account and can be used for whatever investing purposes (including funding approved further education programs for yourself or a dependent, investing in approved franchises, and other programs that will grant more revenue to the RA) and one can place any after tax income into the account. The employer's contribution will be sent to help pay off Social Security,those who participate in RA will no longer be entitled to social security benefits, and any withdraws after the age of 60 is considered nontaxable income

Increase Affordable Healthcare. All healthcare and life insurance is tax deductible, ban restrictions that prevent small insurance companies from selling in other states, and require transparency about policies

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