Wednesday, September 19, 2012

If the US had a benign dictatorship, what would be the first bold things to tackle?

The 80/20 rule applies.

Here are five things (the 20%) that would have an immediate and outsize impact across the board (the 80%):

Implement a Flat Tax:

Key Benefits:
- Eliminate millions of man-hours currently wasted in tax return preparation
- Release the brain trust currently sequestered in non-productive tax avoidance pursuits (lawyers, accountants, bankers, etc.) redirecting all that energy to productive endeavors

Triple Gasoline Prices:

Key Benefits:
- Start a wave of innovation like we have never seen before to replace oil
- Reduce hydrocarbon use and all that comes with it: pollution, transfer of wealth, geopolitical risks

Roll Out a National Health Care System:

Key Benefits:
- Bring health care costs in line with other industrialized countries (From 16% of GDP to 8%) and cover everybody
- Release the economy and the government from the health care industry juggernaut by eliminating all loopholes, incentives, subsidies, etc.

Legalize Drugs:

Key Benefits:
- Reduce crime, violence, and society's costs at home associated with pursuing a non-winnable situation
- Reduce crime, violence, and society's costs in countries around the world dragged into a loosing situation trying to fulfill our drug habit

Implement Tort Reform:

Key Benefit:
- Simply put .... Eliminating all non-economic damage awards (i.e., pain and suffering, etc.) and having the losing party pay for the legal costs on both sides would virtually eliminate frivolous/wasteful legal actions that currently impact many aspects of our economy

It is nice to dream about the possibilities sometimes : )