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  • jamie1dimon jamie1dimon Jun 6, 2013 10:06 PM Flag

    Peter Schiff: Get rid of the federal reserve & fica

     

    Abolish the “hiring penalty,” the 15.3 percent Social Security tax, half of which is paid by an employer, in addition to unemployment insurance, health care mandates, anti-discrimination laws, and a variety of regulations from the Americans with Disabilities Act to repealing the minimum wage.
    Pass tort reform, from medical to “defensive investing,” and enact stronger “loser pays” rules.
    End bailouts, including the FDIC, Fannie Mae and Freddie Mac, even if it takes a constitutional amendment banning bailouts of private institutions.
    Return to the gold standard for the dollar.
    Abolish the income tax, payroll (Social Security FICA tax), estate and gift taxes, replacing them with user fees, excise taxes and flat tariffs (even, temporarily, a national sales tax). 
    Phase out Social Security and Medicare by means testing the programs and increasing the retirement age commensurate with the increase in life expectancy. 
    End all federal education assistance, including college loans and subsidies that are increasing the price of college, and abolish the Department of Education.
    Repeal Obamacare.
    Eliminate all foreign aid.
    Minding our own business in foreign affairs, bringing the troops home from foreign bases, and cutting the defense budget.

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