To reduce and eliminate the federal budget deficit we need to increase efficiency in the system. These seven ideas will increase efficiency and reduce our federal deficit.
Stop Helping Homeowners to Reduce Federal Deficit
I am a two-time homeowner, and I have always thought it was strange the government motivates me to not pay off my mortgage. Part of my retirement planning is to pay my mortgage off fair and square. However, because the interest is tax deductible, the government is motivating me to not pay off my mortgage.
By eliminating homeowner incentives, we could rise out of the federal budget deficit faster.
Restructure our Education to Reduce the Federal Deficit
Our education needs to be geared towards the interests and goals of the students and economy. One size fits all education is not realistic, not globally competitive, and not cost effective. Specialized charter schools geared towards specific interests and economic demands, will reduce our Federal budget deficit.
Allow Government Employees to be Fired
There is a basic human drive that causes us to work hard, because we know we can be fired. This is almost eliminated in government employees. It should be as easy to hire and fire people in government positions, as it is in the private sector. This will increase efficiency, and help reduce the Federal budget deficit.
There are many hard working government employees who should get more rewards because they are hard working. The current system makes this near impossible.
Why are taxes so complicated? The thousands of pages of tax code are near impossible to interpret. The easier the tax code, the more desirable it is to start a business here. More business = more jobs = more money = less Federal deficit.
IT Outsource Lawsuits
Why do people have to go to court for $500 disputes? Why can’t there be an online system where both parties enter the information, dispute or confirm the other parties information, and then a judge makes a final decision and sends it out to the parties involved?
This could be an optional system agreed to by both parties, and would eliminate waste in our system. Eliminating waste frees up resources to reduce our federal deficit.
Fix healthcare already. Our main product simply cannot be healthcare for each other. Stop all of the lawsuits in healthcare, and make it more efficient.
If parties cannot agree try different solutions in different states and see what works. Do a market test on healthcare to reduce the federal deficit.
Why is it I need car insurance, health insurance, uninsured motorist insurance, home insurance, etc, etc.. Most of the insurances overlap each other and create a large amount of waste in our system. Why can’t I just be insured so that if anything bad happens to me (no matter if I slipped in a store, or was in a car crash) the same insurance could make sure I get better?