Debit Economy

[Martin Hash]

Debit cards have become popular with people who have a tendency to go into debt and not be able to pay it back. The U.S. has been in an ever increasing debt for most of its history, to the point of no return, and there’s no reason to think politics can ever be fiscally responsible. Cut up the credit card, America needs to become a Debit economy.

We only need consider our standard of living, our science, our sophistication, and our ever accelerating level of comfort, to prove that Government spending is a good thing. How much Government spends is the debate between Liberals and Conservatives, but regardless of the ideology, the math stays the same – debits must equal credits. A Debit economy would force fiscal responsibility while still advancing a civil society and our standard of living.

This is NOT a plan to save money – federal budgets will not decrease. This is a method of accountability, both financial and organizational. The cost of each program will be transparent so that we as a people can make informed decisions about them, and the battle between the Politics-of-Envy and the Politics-of-Greed would be out in the open for all to see and hopefully prevent. A Debit economy consists of "Spend & Tax Economics," "Privatizing Government Services," and a "Balanced Budget Amendment."

Spend And Tax Economics: http://www.martinhash.com/forums/viewto ... f=46&t=650
Privatizing Government Services: http://www.martinhash.com/forums/viewto ... f=21&t=737
Balanced Budget Amendment: http://www.martinhash.com/forums/viewto ... f=21&t=669

[Martin Hash]

What about government debt?

In a Debit economy, by definition, there is NO federal government borrowing because federal governments are the originators of money - they don't owe anybody anything. After Congress settles on a budget, the various departments are allocated their share of money from government largess, and have private companies bid for the service the dept is supposed to provide - an exactly specified service. There are no public employees except those overseeing and enforcing that the private businesses are performing the specified service. A tax rate is established based on predicted personal income taxes. (No federal business tax and all business profits must be passed onto the shareholders.) Any errors in prediction are added onto the next year's tax rates.