Debt
We have been living beyond our means for too long at the expense of our children's future, borrowing from everybody and anybody. Our leaders have no plan to pay the principal on the debt for decades to come, nor do they consider it to be problem which would be equivalent to political malpractice.
By continuing to borrow at an unprecedented rate, and with the ongoing deficit spending, we are placing the status of the dollar as a reserve currency in jeopardy, with potential unintended consequences that may haunt us for generations to come.
- We shall balance the budget in 10 years.
- We shall pay off the national debt over the next two decades:
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- From additional taxes generated from the simplified tax code.
- From a 5% surcharge on the two highest quintile income earners.
- From a 10% surcharge on corporate profits.
- We shall payoff $1 trillion in student loans by closing overseas military bases or having host countries pay for them.
- We shall reduce the size of the Federal Government by transferring responsibilities to the states.
- We shall allow offshore profits of US multinationals to be brought back home, tax free, for one time only, to be invested in the US to create additional jobs.