What Must Happen:
Based on my experience as a State Auditor on the financial audit team, an investor with over fifty years of experience, a State Revenue auditor, and a practicing CPA I believe it is possible to Grow the Gross Domestic Gross Product (GDP) at over 5% per year while keeping inflation around 2%. To accomplish this you must have the government, non-profit, education, and business sectors all acting in a unified manner to maximize growth. My plan is based on my experience to bring all these sectors into a unified system that works together.
- Governments must balance their budgets at all levels of government and fully fund retirement plans.
- Non-profit entities need to support and help low-income people become more self-sufficient and increase their earning capacity.
- Schools need to educate students in investing, using computers, selecting careers with good growth prospects, and an economic education.
- Businesses need to share the wealth with their employees and provide for good working conditions within their companies.
The basis of my plan is to move at least 50% of the lower-income people into the middle and upper-income middle class. To do this we need schools to start teaching students in grade schools through high schools about economics, stock market – investing, and good personal financial management practices. Nonprofits, businesses, and governmental entities need to help train people to become productive citizens in the U.S. We also need to manage immigration to bring in new citizens that help the US grow the economy. If we could move 50% of the people that are in low-income brackets, in jails, and non-working people into the middle-class mainstream economy, we could add about 3 to 5 trillion in additional GDP to our national economy.
We need to also get our government to become more efficient and productive, as a state examiner I observed many parts of government being very inefficient and counterproductive. In fact, at least 15% to 20% of your tax dollars are wasted through mismanagement and inefficiency, which is caused by bad management and a lack of pressure to perform, which is present in most for-profit businesses.