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  • nickinil nickinil Jan 1, 2013 6:38 AM Flag

    200 Free up capital for the markets by combining pensions and advancing payroll funds to a bank account.

    200 Free up capital for the markets by combining pensions and advancing payroll funds to a bank account.

    (I) Plan: Create an interest bearing bank account with Bank of America. Federal, state, and local entities transfer pension funding to include the advancement of yearly payrolls for each employee to the account. This can be done best at the local level after issuing the proper municipal bonds.

    (II) Taxes: The pension funding as well as the yearly advanced payroll funding deposited in the bank savings account shall accrue interest with no tax burden. The account should be known as the “Pay day account” for easy identification during the tax process. Banks will also be allowed to participate in the “Pay day account” to hire more employees.

    (III) The Federal Reserve: The Federal Reserve should lend money to the banking sector at a rate of one half percent of the tax free interest rate accrued in the “Pay day account”.

    (IV) Example: The "Pay day account" is earning 2% interest because of all the capital being invested by the Government and corporate entities. The Federal Reserve shall lend at half the rate of tax free interest in this instance 1%. The Government as well corporations will do everything they can to take advantage of a tax-free account leading to hiring employees and offering generous pensions on an unprecedented scale. In addition, tax revenue is recouped by payroll taxes collected from all the extra jobs created.

    (V) Private and Public CFO’s: The CFO will ensure the excess capital is properly invested in US savings bonds, gold, and purchasing loans to help struggling homeowners.

    (VI) Benefit: After implementation capital would become more liquid in the markets for expeditious utilization in economy expansion efforts. In addition the government as well as corporations will be encouraged to hire more employees to take advantage of the tax free account accruing interest. This plan also reduces the strain on social welfare programs as retirement funding is added, because of the tax free interest accrued in the "Pay day account". The economy will experience expansion, job growth, and reinforce a very strong currency. These aggressive ideas are required to solve the debt crisis. Running up a $17 Trillion debt without a plan to repay it is much more aggressive to the detriment of each citizen.

    (VII) Added benefit: Interest is collected on the yearly advance of expected payrolls. In addition pension deductions would be added to the account for additional compounded interest. Therefore as more employees are hired more interest is compounded in the savings account allowing for continuation of a strong retirement plan for metropolitan first responders.

    Nicholas Kwit

    Sentiment: Strong Buy

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