pimpolympic (pimpolympic) wrote in talk_politics,

The debt, deficet, and ways to fix the Govt cash problem

President Obama's recent decision to freeze Gov employee's pay in order to save $2 Billion next year got me thinking of ways to bring cash to the coffers without undo burden to the taxpayer and business community.

2 billion is not a lot in terms of a trillion, but as they say "a billion here and a billion there, and pretty soon you are talkin real money!"

So, (as I recently posted on my page) here's an idea to get some more cash into the coffers.
Tell me what you think, recommend changes, check my math (a little dyscalculia going on), cut and paste it to your Congressmen, recommend your own ideas, and etc

Federal 50/50

Everyone I've pitched this to loves it.
I've been getting pushed to formalize it and "get it out there", so here tis...

1) On the bottom of your tax form there is a check box that says:
"Yes, I want to enroll in the Federal 50/50"
If you tick it, $52 ($1 per week) is reduced from your refund, or added to your liability and you are entered into the 50/50.

2) Out of the ~310,700,000 people in America, approx 138,000,000 file taxes.
If only half of them tick the box, that means that each week there is a 50/50 drawing for approx $69,000,000.

3) Every week, the Fed Gov picks one SSN out of the people in the drawing (who ticked "yes" on their tax form).
The SSN that is puled splits $69,000,000 with the Federal Govt -- so the winner gets 34,500,000.

4) The winner ends up with approx $20,250,000 after taxes.
Most people who win are going to buy a few houses, big TVs, some cars, and generally do a great job of stimulating their local economies.

The fed gov gets a big lump of ~$3.6 billion, with an obligation of $1.8 billion over 12 months, but then get the taxes on that $1.8B... approximately $0.5 billion. Net, the govt would get around $2.3 billion, less the costs for administering it.


You must submit your taxes by Apr 30th, and lottery runs July to June.
The IRS should oversee it.
Filing jointly? $2/week.

Allow people to play 2x per month ($104 filing single, $208 filing jointly = ~$7B in the Gov Coffers or 14,000 Gov employees making $50k / year that the taxpayers don't have to directly support!).

Voluntary taxes = good!
Tags: debt, finance, hypothesis, taxes
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