Not just Debt, but Jobs

While I do not trust the downgrade by the S&P ratings agency at all, the conversation they bring up about our government's ineffectual policies regarding the economy are pretty good. We are at logger-heads with each other over how best to become financially sound.

Wise investors frequently say that one should buy low and sell high, but to trust that the markets will always be trending higher over time - I believe this and do my best to have enough cash on hand to invest during these down markets. America does have cash right now, the highest earners have been stock piling cash and so have our corporations. It is time to use this American capital to invest in our future.

If they refuse to invest in private companies or donate to charities or expand operations, the economy will languish. I suggest, that if by a certain point capital remains in their hands, we have a temporary 1 year tax increase to pay for infrastructural investment in America - not just roads and bridges, but high-speed rail, Superfund Clean-up, Airport security upgrades, Smart Passports, Smart Grids, Wireless access to the internet in every community for free, etc.

We need to make America the most advanced society imaginable and if the private sector refuses to do it on its own, America can and will make it happen. And in return we will get JOBS JOBS JOBS. Many of these contracts will go to American companies, so they should fiercely compete for the projects. They might see a 1% flat increase to their corporate taxes (no deductions allowed), but they probably will get more work from the projects.

As well I would propose a 1% increase in taxes for those making over $1 million a year. The last time we saw this amount of concentrated wealth in America, museums were endowed, schools built, research funded... now it seems like we get nothing.

This is a temporary tax for 1 year with a vote to extend each year. The project chosen must be within the total budget of what is taxed so we do not increase the debt and each project will be judged like the "race to the top" program. As well, we will give companies and individuals 3 months to invest on their own in America, if enough jobs are not created in that period then the bill goes into effect and we put America back to work.

I'd like to see ideas like this floating around, so that not only are we fiscally responsible in paying for the jobs bill, but that there is a jobs bill in the first place. Right now we can secure some great pricing for these investments and buy all these upgrades at a low cost, but the value once the economy regroups will be essential to compete in this new global economy.