Lanterna Rally

Author: Stuart Dunn

Publisher: Author House

Published: 2013-04-23

Total Pages: 179

ISBN-13: 148174061X

This book describes a fiscal plan designed to balance the federal budget without austerity or endangering the entitlement programs. It does this primarily through increasing income taxes on the wealthy by raising rates and eliminating deductions. It calls for significant savings in the cost of health-care delivery without diminishing services and an end to government waste and inefficiency. It largely eliminates poverty through raising the minimum wage, and a full employment program in which the government serves as the employer of last resort. This program is paid for by a new net-worth tax on the wealthiest 1 percent. The plan intends to improve economic equity and preserve political democracy by reducing the income/wealth disparity which exists today. The plan extends Medicare to all, eliminates payroll taxes, and funds entitlements out of the general fund. State and municipal costs are significantly reduced by absorbing Medicaid patients into Medicare, thus freeing up capital for necessary infrastructure repair and the expansion of education funding for preschool through college. Working- and middle-class families will see their first real increase in disposable income in almost thirty years through the elimination of the payroll taxes, the reduction in the personal cost of health care and the increase in the minimum wage. The full employment program and the increase in disposable income for so many will serve to stimulate the economy, bring about business expansion, and increase employment. The cost of doing business in America will be reduced by eliminating company contributions to the payroll tax, ending the need for company-paid health insurance and a reduction in the corporate tax rate. These savings will motivate bringing jobs home from overseas and increase the profit margins for American companies providing capital for research and development, modernization, and expansion.