The Great Generational Wealth Transfer--The Solution
I can already hear the screaming. "You are a redistribtionist!" No, you couldn't be more wrong. I despise big government. I want it out of the way. My economic ideas are very much Libertarian and I'm a huge fan of Ron Paul. The problem is that many say they don't like big government while they suck on the udder. This is certainly true in the corporate environment. A few modest, or not so modest proposals to reestablish true equity in the system, which is about to fail in 2013:
1. A complete overhaul of the tax code. The whole thing must be limited to 200 pages.
2. Social Security and Medicare must be wealth indexed. Very wealthy get nothing.
3. Elimination of the home mortgage interest deduction, scaled out over time.
4. Dividends and capital gains taxed as ordinary income.
5. State taxes are not deductible on your federal return.
6. Flat tax. Anyone under $15,000 in yearly wages pays nothing.
7. True accounting of government pensions. Benefits curtailed.
8. Mr. Pinus sentenced to two years on a rock pile with a simple pick ax.
The sad part is none of this is vaguely feasible without some type of revolution. It's coming.
Watch out in 2013.