US Federal Debt Lottery


New Federal Lottery to Pay Down the Debt

This has been bantered about before, but perhaps it’s time to revamp the idea.

After we cut military spending, I have an added solution to help pay down the US debt to China and Japan.

Sine Americans love to gamble, as do the Chinese, we can develop a weekly Debt Lottery.

Depending how many states take part, that number, say 50 people across the country, each week could win up to $1 million.

The interest and surplus would go towards reducing the debt.

Any resident of a state that does not participate would not be allowed to play or win. So you’ll need proof of address and if need be proper identification to buy the ticket.

In Addition:

Add a Patriotic Wealth Tax $250k and up, a flat 10%.  A tax on corporate and foreign profits – a calculation would have to be developed and made legally clear so that those hikes in taxes would not be added to American Consumer goods, but to profits only.

Further during this time of National Debt any corporations who moves out of the country to avoid this tax and still wishes to do business in the US will pay double  above their profits for the privilege to do business in the US and drop in ranking for all government contracts. Once these businesses leave merging with another corporation, in or out of the US, does not forgive their move, that penalty follows for at least 10 years.

Paying down the debt by those who profit the most and for the freedom this nation provides should be these corporation’s patriotic duty.

Added to these taxes an extra tax on Chinese and Japaneses goods, which would go directly towards the debt, however, an equally offered tax cuts to business who make goods with clean energy, clean waste and who hire American citizens within all US state borders. So Toyota will get a cut for their plants in Alabama, but pay an extra tax for the parts shipped in from Japan or China. Toyota would be free to pass this cost onto American Consumers.

Seems a number of  conservatives and libertarians don’t mind that the middle class working stiffs take the  hit, “we will have to all suffer,” they say, yet, they get all up in arms when the wealthy and corporations are called in to carry their share of this burden.

That needs to stop.

Those who think we will lose business in the US, think again, go ahead, move your business off shore, trust me, we’ll find someone else to take your place.

Once the debt is paid, hopefully, we will have learned a few lessons and maybe we can try this game again OR states can start to cut through all the B S now and just secede.

I would like to work this article up a bit more thoughtfully as the days go on.

Your thoughts – pros and cons?

Advertisements

2 Comments

Filed under business, computers, congress, debt, Health, justice, News, science and technology, social epistemology, updates

2 responses to “US Federal Debt Lottery

  1. Robert J. Sharon

    My idea is to have a once a year lottery (New years lottery). Play year round, tickets sold for $20.00 each. On New Years day one U.S. citizen will win tax free for life. And have one non-U.S. citezen become U.S citezen.
    This should build more income to pay the dept. One U.S. citizen pays no taxes for life. But the person who becomes U.S. citizen will start paying taxes then.

    • interesting idea, but what’s to stop the person who pays no tax from selling his privilege?

      the way things are now I say give every American a home based on 33% of their income and the economy will boom.
      Course we still have to put the crooks on Wall Street in jail

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s