The 20 Trillion Dollar Fix

So - we have a problem. A problem that we haven’t faced before. Realistically, we will be dealing with the pandemic for years. History tells us these things stay with humanity many years. Millions can die and until this virus is eradicated on earth it will be with us. The toll this event will take on all the aspects of our life will set us back significantly.     Now, with new technology and advanced scientific research this pessimistic outlook could be greatly reduced.  But it’s going to need some help  and extraordinary resources.                   And that’s where the 20 Trillion Dollars Fix comes in; because we’ll need to respond in a much bolder way.           The Federal government is the only entity that can pull the needed money out of the hat.  To do what?    Well here we go.       For starters we commit to pay unemployment payments liberally, we support “really “ small business owners indefinitely, and we ramp up the bureaucratic systems needed to provide these services efficiently until they are not needed. Then we spend whatever is needed to expand our medical services capacity and essential services capacity to never put those citizens in stress conditions. That means that our immigration policies have to be as liberal as they were at the turn of the 20th Century when we needed so many people to man our factories. Next, those working in high risk jobs get hazardous pay with medical insurance and their employers get federal assistance. High risk means any condition that puts an individual in an environment that has proven to be a hot spot.  We regard teachers as not expendable and their compensation must be adjusted upwards. Finally,  like we did during the depression, we inaugurate a “Civilian Infrastructure Corps” committed to rebuilding our Nation’s infrastructure (adding tech, all the sciences, social and medical services from top to bottom).          Now, after all of this is underway, by 2025, and not interfering with ongoing federal, state and local responsibilities throughout this period this Nation could almost be “brand spanking new” and the envy of the world.            Okay, great idea-but how to we pay for this.  First we increase taxes. After what we’ve been through and coming out of it in better shape who wouldn’t be willing to pay more taxes?   And what would those taxes be, how high would they be. They would be at least double for everyone and quadruple for those with taxable incomes over  $500,000. Corporate tax rates would return to the previous rates with a major reductions in loopholes.  They would be allowed to bring in their offshore funds tax free if they apply those monies to capital improvements. Deductions would be streamlined and penalties increased. This tax policy would stay in place until our debt declines to 50% of GDP (currently @ 105%). Only one assumption is made: that is this country would be so strong, it’s citizens so productive and happy that this effort is willingly accepted. Granted there are a lot if questions about this approach but let’s start the discussion.

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