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The Mike Ballantine Rebuild America Plan 2012
Synopsis:
Over the past three years America has
gone through one of our worst periods in living
memory and it is not over. Republicans want to
impose Greek-like austerity measures on the
nation which will deepen the crisis not improve theeconomy. The Democrats do not know which way
to go so they choose a middle of the road plan that
takes us nowhere. However, the Occupy Wall
Street movement, the tea party, and others have
made it plain. They want change in Washington
and here is what they want.
They want good governance,
accountability, job creation, debt relief, and better
schools. The Republican plan imposes austerity
which kills jobs; it does not create them. The
Democrats give us a placebo and hope we cure
ourselves naturally. Congressman Ron Paul likeany good country doctor tells us to take our
medicine, it tastes bad going down but in a couple
of years youll feel better. We maintain that we
cannot wait a couple of years or decades like
Japan.
Balanced Budget:
Our plan delivers a balanced budget in 30
months. Whereas, we will reduce the deficit
significantly during the first and second year, until
we achieve full-employment in the 30th month, we
will not see a balanced budget. Unlike other plans,
our plan does not depend on cutting entitlements
to achieve success.
Spending Cuts:
Our plan proposes spending cuts during
the first year of $500 billion. These cuts will come
almost entirely from defense, military foreign aid,
the TSA, and rationalization of the Department of
Homeland Security. We will consolidate several
departments into the department of Commerce.
We show all departments to in our analysis to
provide comparative data.
Cutting Government Waste:
We will review all laws and regulations
issued prior to 1980 and eliminate those that are
no longer relevant during the first year. We will
eliminate all education legislation from Title I to
Title VII and consolidate in a new Education
initiative. We will review the current EPA
requirements and look for ways to streamline them
to promote jobs. We will consolidate the Federal
Pension scheme into Social Security and offer a
new investment vehicle for Americans. We will
consolidate Federal Health Insurance and Veterans
Hospitals under Medicare without reducing VA
benefits. We will propose cutting Executive and
Congressional salaries by 50%.
Taxes:
We will lower the corporate tax rate for
companies that are 50%+ employee owned to 25%
while raising the corporate tax rate for other
companies to 50%. Corporations will face tax
penalties if Executive pay is more than 10 times
the average wage of employees.We will eliminateall deductions and raise the minimum taxableincome to $50,000 per person and extend a
progressive tax rate from 5% to 50% on individuals
earning between $50,000 and $500,000 or more.
Individuals earning above $1 million per year will
pay a surtax on the earnings of up to 95% to yield
an additional $100 billion a year to the treasury.
Long-term capital gains will have a separate tax
structure to encourage savings, whereas short-
term capital gains will be taxed as ordinary
income. Interest on savings will not be taxed.
Regulation:
We will propose legislation to reinstate the
Glass-Stegall act with certain modifications for
Internet banking. There will be a size limit on
financial institutions and the too big to fail banks
will be broken up. All new regulations will have a
20-year sunset provision to require reauthorization.
Consumer Debt:
We will use the authority of the Federal
Reserve to implement a consumer debt relief
package in the amount of $5 trillion employing
assets held on account at the FED. We will allocate
$3 trillion to underwater mortgages to reduce
balances and refinance them under FHA style
provisions. We will allocate $550 billion to reduce
sub-prime mortgages by 50% allowing
homeowners to reoccupy homes if they choose
under new FHA style loans. We will allocate $575
billion to reduce the first $10,000 owed by students
and 50% of the remainder. The balance of our
funds will be available for Medical debt relief, credit
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The Mike Ballantine Rebuild America Plan 2012
card debts of long-term unemployed, and
emergency relief efforts.
Universal Health Care:
We believe that equal access to health care
is a fundamental human right of any developed
nation. We will extend Medicare to all American
citizens without pre-conditions. Employers can
choose whether to continue to offer health
insurance to their employees or offer supplemental
packages to enhance their employee benefits. This
will provide immediate relief to the 49+ million
uninsured. We believe that the current situation is
a national emergency and we will treat it as such.
Job Creation:
The Federal Reserve has two mandates:
maintain full-employment and control inflation. We
believe the FED has abandoned those mandates tokeep interest rates artificially low and prop-up the
stock market at the expense of savers and
workers. We will instruct the FED to establish an
infrastructure bank under its first mandate with the
sole purpose to create jobs. As of October 15th,
2011, there was approximately $2.6 trillion
deposited in banks earning zero% interest . We
will authorize this new bank to issue 20-year bonds
and to absorb $2 trillion in initial financing for a
series of projects listed on our website. We will
continue to finance projects over the first 30
months of our administration until we reach full-
employment. We estimate the total financing
requirements will be $5 trillion although some of
that money will be authorized as loan guarantees
not direct financing. Priority will be given to
American companies that are employee owned
with deferred principal payments and subsidized
interest rates to support start-up companies.
The second mandate will be changed to
initiate a zero% inflation policy at the FED. This
will cause interest rates to rise immediately by 2%
and we allow for the additional interest expense in
our budget. There is nothing more important than
maintaining a stable value in a nations currency.
We will no longer drive our economy on debt, we
will drive it on productivity.
Education:
Our budget includes an increase of $100
billion each year as a Marshall Plan for our inner-
cities. We will provide minority scholarships to
train 250,000 teachers and offer two-year pre-
college scholarships to unemployed inner-city
youth. Further we allocate $50 billion annually in
block grants to local communities to convert over
to an ABC high school program of
vocational/technical/academic tracks. Finally we
will negotiate with colleges around the nation toprovide aid based on the salaries graduates can
expect from their studies not the price the school
wants to charge.
Space:
We believe that investing in space and
space-related technologies holds the key to our
future success and we propose a $100 billion per
year plan as part of our infrastructure program.
Our proposed Moon/Mars plan can be found on our
website.
Clean Energy:
We believe that we must first achieve
energy independence to end our foreign
adventures. The second phase is our investment in
renewable energy through our infrastructure bank.
The third phase is to begin replacing our
automobiles with electric cars through a
government subsidy for batteries paid for by a 5%
tax on fossil fuel generated electricity. We believe
that with smart investments and planning we can
reduce the consumption of non-renewables
namely, oil and coal by 50% over a 20-year period.
To begin repairing the damage to our eco-system
and help reduce the amount of CO2 in our
atmosphere we propose a 1 billion tree planting
program across the nation.
Conclusion:
The Ballantine campaign offers the only
rebuild America plan out of all the candidates that
meets the needs of most Americans. The voters
have a choice, face austerity like Greece, muddle
along for lost decades like Japan, or reinvigorate
our nation building a better tomorrow. Join us, and
help insure America stays number One.
www.mikeballantine2012.org
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The Mike Ballantine Rebuild America Plan 2012
IN MILLIONSObamaBudget
2012
Mid-YearAdjust
BallantineBudget 2013
BallantineBudget 2014
BallantineBudget 2015
BallantineBudget 2016
Outlays
Medicare/Medicaid 900,850 300,000 1,500,000 1,750,000 2,000,000 2,350,000
Social Security Administration 791,680 840,000 895,000 940,000 1,000,000
Department of Defense 718,800 (200,000) 425,000 352,000 387,200 425,920
Interest Expense 340,000 500,000 660,000 660,000 660,000
Department of Agriculture 132,250 175,000 180,000 185,000 190,000
Department of Veteran Affairs 123,760 25,000 75,000 78,000 80,000 83,000
Department of Labor 116,700 25,000 115,000 85,000 65,000 50,000
Department of the Treasury 93,410 35,000 35,000 35,000 35,000
Department of HHS 92,900 100,000 110,000 125,000 150,000
Department of Transportation 75,300 150,000 150,000 150,000 150,000
Department of Education 71,500 25,000 175,000 180,000 185,000 190,000
Department of State 53,800 (15,000) 25,000 26,000 27,000 28,000
Department of Homeland 53,680 (25,000) 25,000 20,000 15,000 -
Department of Housing 47,500 50,000 55,000 60,000 65,000
Department of Justice 31,300 5,000 40,000 45,000 50,000 50,000
Department of Energy 31,170 125,000 130,000 135,000 140,000
NASA - Space Transport Admin 17,680 6,000 6,000 6,000 6,000
Department of the Interior 13,000 25,000 26,000 27,500 30,000
Department of Commerce 9,250 10,000 125,000 130,000 130,000 130,000
Environmental Protection Ag 9,170 15,000 16,000 17,500 20,000
National Science Foundation 6,790 15,000 16,000 17,500 20,000
Corps of Engineers 6,000 20,000 20,000 20,000 20,000
Small Business Administration 1,230 10,000 10,000 10,000 10,000
National Community Service 960 2,000 5,000 5,000 5,000 5,000
Other 23,320- - - -
Total Government Spending 3,762,000 152,000 4,576,000 4,980,000 5,332,700 5,807,920
Estimated GDP 15,500,000 16,000,000 17,600,000 19,360,000 21,296,000
Government as a % of GDP 24.3% 28.6% 28.3% 27.5% 27.3%
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Revenues 2012 2013 2014 2015 2016
Personal Income Tax 1,271,000 1,280,000 1,408,000 1,548,800 1,703,680
Payroll Taxes 1,000,000 1,100,000 1,188,000 1,283,040 1,385,683
Millionaire Surcharge 50,000 100,000 110,000 121,000 133,100
Corporate Taxes 333,000 75,000 533,000 616,000 677,600 745,360
Others 158,000 27,000 260,000 260,000 260,000 260,000
National Sales Tax of 10% 1,120,000 1,267,200 1,452,000 1,661,088
Deficit 1,000,000 183,000 130,800 (9,740) (80,991
Total Revenues 3,762,000 152,000 4,576,000 4,980,000 5,332,700 5,807,920
Important Issues:
These numbers represent our best projections based on the economic situation on October 30,
2011. Should the economy worsen over the next year, there could be a substantial change in the
projected deficit during 2013. This analysis assumes that average interest rates will be 2% in 2012,
3% in 2013, and 4.0% in 2014 2016. If the FED continues with its Quantitative Easing policies,
those rates could climb effectively increasing our deficits in 2013, and 2014. Our plan assumes
that the Department of Justice will provide a legal ruling pertaining to the role of the FED in creating
jobs. Our plan assumes that we will begin to bring all troops home from overseas and that we will
close 90% of our overseas bases during 2012. Our plan assumes that we will be able to get a mid-
year budget resolution passed to adjust spending levels and provide new taxes on millionaires and
corporations. Our plan does not depend on any immediate change in personal income taxesalthough that is a priority for us. Our plan depends on the passage by Congress of a National Sales
Tax to fund Medicare and insure its continued financial stability. Mike Ballantine
www.mikeballantine2012.org
Cody J. Davis Campaign Manager
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