Improving Life in America

Some people were commenting on the size of the military budget of the United States of America. I simply agreed that it is rather large, but I thought a little more about it and realized that the more than six hundred billion was enough to pay attention to, and it is even enough to do something with. As we all know, the U.S.A. is more than twenty trillion in debt. The military budget isn’t enough to eliminate the debt, but it might get us on the way, but not directly. We should take half of the military budget (or maybe a little more) and give each citizen a million dollars.

A million dollars isn’t as much now as it was when John Beresford Tipton gave that much to a random person every week on the TV show, but a million could still help many people. People could pay off student debt, instead of writing that off, and they would still have enough to go out and but something. Others could payoff or buy a house, and that would be extremely handy for the homeless.

The would be a kicker in it. It would be taxable, but it would e at the new flat rate of 15% on all income. And they'd have the money, so they could and would pay the income tax, especially since it had been withheld. But with the new habit of paying income taxes, people would start to pay down the debt, and that would strengthen the U.S. economy, which would have the effect of making everyone wealthier. And it would make the government wealthier, because fifteen percent off the top would be a much larger amount that the negative income that the government is charging now. Fifteen percent is so little that even perennial scofflaws like Trump would be willing to pay some taxes, for a change.

It wouldn't take many years of collecting fifteen percent and applying it to the debt would make a major difference, and if we kept the custom of putting half of what the defense department was looking for to debt reduction the debt would decrease.

That would also make the dollar stronger and lower the Treasury Department's cost of borrowing. That wouldn't decrease the carrying cost, but it would lower the rate when the Treasury had to refund an issue.

That little fifteen percent (maybe we should make it twenty) tax would pay for everything that the feds have been doing, adjusting for the decrease in military spending, and it would make it easier for people and businesses to make money, so the economy would boom, especially after we get rid of Trump's tariffs.

The only downside would be unemployment among accountants and IRS workers, but some of them could switch to the improved tax scheme, so maybe there wouldn't be much unemployment, or maybe the accountants could do something useful instead. But with all the previously penniless people rolling in dough, they might become financial advisors.

With all the additional wealth, Americans could live the lives they only dreamed of, and life in America could truly be better.