Talk of The Villages Florida - View Single Post - An issue - How do we jumpstart the economy?
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Old 09-03-2008, 07:36 PM
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Default An issue - How do we jumpstart the economy?

As one who does not believe that "government" must be mommy and daddy to the general public, but the general public often needs to fix things in spite of the government's "help," I'm curious on the ideas any/all of us have on how to get the economy a point or two higher?

We've all "been around the block" several times, so one would think we'd have some ideas. I'm not really interested in what either campaign has speechwriters working to impress, but would be more in the line of - if I had ten minutes with each candidate, this is what I'd say and have them listen, not the other way around. Maybe they might even listen!

As a start - the domestic auto industry is a big "driver" (pardon the pun) of the economy, especially when you consider all of the subcontractors, vendors, suppliers, etc. involved. If in 2009-2012 when a person purchased a new domestic car (one where at least 80% of the parts were made and all of the final assembly occurred in North America), the purchase price (or any portion of it) of the car would be federal income-tax deductible. If the car was financed, then the payoff of the principal - as it occurred - would be deductible until the final payment. If you sold the car early, or traded it in, there would be a "schedule of deduction" that IRS could provide which would account for the remaining tax deduction.

Such a concept would reduce balance-of-payments, put more Americans back to work (at car makers, suppliers, subcontractors, etc), make American-made products in the American market more competitive, and give folks some more cash. The foreign auto makers would say it was an ad hoc tariff, but so what?

Any other?