rebuild america - mike ball an tine 2012 ver 1.1

8/3/2019 Rebuild America - Mike Ball an Tine 2012 Ver 1.1

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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

Refinement ver 1.1Page 2

Prepared by the Committee to Elect Mike


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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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IN MILLIONSObamaBudget

2012

Mid-YearAdjust

BallantineBudget 2013




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



rebuild america - mike ball an tine 2012 ver 1.1

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