How to create a booming economy in under a year

Just 3 bold moves would catapult the US back into prosperity and cause the unemployment rate to plummet…

As the machinations and hand-wringing continue in the nations’ capital and across more than 30 states, US debt continues to pile up. Unemployment has not stabilized, the housing market’s still a disaster, the tax code is up in the air and economists keep sharpening their red pencils.

The US economic ship of state has been taking on water for some time and–depending on which Wall Street analyst you care to consult–America is a Titanic in the making or maybe a foundering ship drifting into the mists of the Bermuda Triangle.

Now, a growing number of US economists are ready to throw in the towel and accept that the US economy, like Japan’s, will be trapped in an economic sinkhole for a decade or more. Some economists like Paul Krugman see a generation lost and 10 million unable to ever find a decent job again. Others, like Arthur Laffer, predict that the US may tip into a deep, disastrous depression.

None of these things has to happen; none of this policy must go forward. The regulations, tax structure, real estate and banking laws have all created a perfect storm and brought the United States of America to this financial abyss.

Here’s how to turn it all around and save the markets, the banks, the jobs and the housing:

1. Enact a tax holiday for all individuals

By suspending individual taxes for one year—payroll, FICA and Medicare—Americans could keep all their own money and every penny of it would go into products, services and investments. The GDP would start roaring ahead and unemployment numbers would start melting down faster than a snowball in July.

2. Suspend capital gains taxes for 2 years

Capital gains tax should be completely waived for at least two years. When reintroduced the rate should be set between 5 to 10 percent.

Revenues from the tax would actually increase in the long run because investment capital from the world would flood the United states and the capital crisis quicksand the US economy is being sucked down into will evaporate.

3. Reduce corporate tax rates to 5 percent

For complete article that explains how to do it and the massive benefits that would be unleashed click here.

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© Copyright AYM Communications. 2010