I ran across this article in James Hohmann's PowerPost.
It's from the lefty group Third Way and is titled A New Generation of Ideas: A Social Contract for the Digital Age. It's a basically a 12 step program for improving America. Here are the bullet points:
1. American Investment Bank
A new public fund that backs small and medium business loans and investments so that risk capital is available to millions more entrepreneurs.
Comment: This American Investment Bank would pick winners and losers.
2. Innovation Trust Fund
Will finance a 10-year surge of public and private R&D by ending the offshore tax bias so that 21st-century products are invented and manufactured in America.
Comment:
3. Broadband for All
Will link every American to broadband in two years by fast-tracking construction and using public capital to create a private sector race to complete.
Comment: Free stuff.
4. Boomer Corps
Will create an entirely new category of work through national service so that seniors can earn tax-free in retirement.
Comment: More government employees, but part time.
5. Small Business Bill of Rights
Will guarantee speed, flexibility, and parity to every small business owner in America, turning government from an obstacle into an ally.
Comment: Reducing government regulations, tort reform, national licensing standards with reciprocity among states, crack down on abusive practices by large companies, and end corporate handouts. This one isn't bad.
6. Reemployment Insurance
Will replace unemployment insurance with a new system that provides not only temporary income but also grants for training or vouchers for moving.
Comment: Not a bad idea.
7. College Value Guarantee
Will create college accountability and transparency so that every student’s investment in higher education pays off.
Comment: Another good idea.
8. Apprenticeship America
Will create one million new training positions by financing Apprenticeship Hubs and equipping them with new Federal Apprenticeship Loans.
Comment: Would be better if financed with tax breaks to the employer rather than forgivable loans from the government.
9. Working Wage Break
Will eliminate all taxation on the first $15,000 of earned income to boost the return on work.
Comment: A tax break that would help low wage people -- what's not to like about that?
10. Regional minimum wage
Will increase wages nationwide but in a tailored way that’s sensitive to the micro-economies throughout the country.
Comment: Too many smart economists have found too much fault with minimum wages. Bring some of them on board with this idea before foisting it on tax payers.
11. Universal Private retirement
Will guarantee that every worker has both Social Security and a private, employer-fed retirement account.
Comment: That would be a big burden on small employers. First need to solve the pending Social Security default.
12. Paid Parental Flex Plan
Will remove the penalties imposed on working parents so that families no longer have to choose between providing for their children and caring for them.
Comment: "It would be financed in part by scaling back the child tax credit for older children and consolidating other child-related tax benefits." Might work.
As noted in this post's intro, some of these are good ideas. But there's still too much big government involvement to satisfy anyone other than Progressives and the beneficiaries of the programs advanced in the piece.
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3:00 PM 3/21/2018