Tuesday, September 30, 2008
Before I write my next One_Page_Law, I am going to think it through. It is clear that the government needs to do something to stimulate confidence in the economy but what? Here are the questions I will contemplate (putting myself in the shoes of a congressman):
- What are the limits of my power as defined by the Constitution?
- How can I maximize my positive impact while minimizing the negative?
- How do I limit the involvement of the govt and maximize the involvement of the private sector to the fullest extent possible?
Wow, that is a lot to ponder.
Monday, September 29, 2008
- Mortgages will be purchased at a 30% discount off face value as of 12:00:00 a.m. EST September 15th, 2008.
- Each purchased mortgage must be accompanied by current, verified contact information of signer of mortgage documents.
- Purchases will be made until we have exhausted funds equal to $500 Billion.
Mortgages will be held for a period by the Federal Government and will be paid for by funds raised by:
- Lowering corporate tax rate to 22.5% for a period of 36 months from passage of bill.
- Lowering all capital gains taxes to a rate of 10% for a period of 36 month from passage of this bill.
Money raised by these measures will be calculated as the YTD difference of these taxes collected as of 12:00:00 am EST on the final day of each month as compared with corresponding months of 2007.
Warren Buffet will manage this quasi-government venture for a period of 36 months from date of passage of this bill. His duties and compensation will be as follows:
- Hold assets until such time as he can re-market them at or above purchased face value or for any profit after holding them for a period of 12 months.
- He will be compensated exactly 5% of the profit for the sale of said mortgages after cost of funds of 0% APR.
- Warren Buffet will agree to take no other compensation or financial gain for his service in this operation.
At the end of the 36 month period all Mortgages will be sold in bundles to any investment group, private individual, or bank willing to pay then current fair market value minus 5%.
All in favor say "I" those apposed "Nay".
Why can't laws be simple? Why can't they say what they mean and mean what they say?
It is my beleif that you and I - simple everyday people - can and could write more concise, more understandable laws. Hence the name "One Page Laws". Here is my intent: take a crack at writing any law (or in most cases "re-write" any law) in one page or less, the rest of us will vote for or against it or make "appropriate" suggestions to modify said law.
Who knows - maybe we fail, maybe we succeed, maybe we get a law passed! Let's put the "We the people" back into government. What say you?