5th Recommendation -- about Inheritance Tax Changes

I was thinking about potential changes to inheritance taxes, but I had considered that once before and came to the conclusion the system that exists is pretty good. The main issues have been the deduction which protects family farmers from losing their properties and the marginal tax rate on any other wealth beyond that. Today i read another article which addresses the issue in another way which I found quite interesting. Here's a link:  One tiny tax reform could mean billions for America

It has to do with retirement accounts and other kinds of accounts which currently don't require a pay-out. I fully endorse the idea, though I'm not informed enough to suggest any kind of specifics other than the simple identification of the accounts and requirement they pay-out in the same way as retirement accounts. It may be just that simple.

Global Trade War -- China

The Chinese are set on gaining as much from thievery as they can. They insist that any company wishing to have access to their markets must submit to becoming partners with a Chinese firm, so they can steal any intellectual property (IP) of the foreign firm. This isn't acceptable for things we would call high priority or of national security importance. But, some companies have been and will continue to be willing to accept these terms.

The U.S. government must pass any laws necessary to protect us from the loss of high priority national security IP (plans, blueprints, devices, processes, etc.). There is simply no other way to keep these things out of the hands of foreign governments. As for businesses willing to risk their IP to gain access to the Chinese market, good luck.

4th Recommendation -- about an Infrastructure Bank

The 4th recommendation is one I've discussed earlier this year. It's the creation of an infrastructure "bank" which will let Congress decide projects which need to be done and a way for private contractors to secure the project.

There are always going to be some projects government has to do by itself, but there are also many instances where it is most advantageous for government to merely push along certain projects by providing some extra financial gain or to provide some extra security from problems for private contractors. I have it in mind that government should use the "bank" to assist contractors with money for projects the government wants done, so long as the contractor(s) adhere to certain standards. For one, they should use union labor. They should be required to finish the job on schedule or face penalties. They should have to insure projects which are inherently more risky (such as bridges) for some time period.

There have been many people who have studied this idea, so I won't go into any more detail. Congress can rely on many experts on this topic.

The benefits of this plan are to get infrastructure projects done. These would be maintenance, repair, and new construction. It would employ people at good wages. It would provide work for construction firms.

Poppy's Soup

Poppy is a friend of mine whose real name is Mirta. She's from Argentina and is in excellent shape for someone 82 years old. She exercises regularly, takes loads of vitamins and supplements, and eats healthy foods. This recipe is one she has been telling me about for years. Well, today is the day we tell the world.

Poppy's Soup

1/2 cup canned pumpkin (unsweetened)
1/2 cup black beans
1/3 cup oatmeal (quick 1-minute oats)
1 tablespoon olive oil
1 handful of walnuts (chop if you like)
water to make a thick soup
parmigiano cheese (grated)

Condiments: tumeric, black pepper, salt (to taste)

Mix the ingredients and refrigerate over-night.
The next day, bring to room temperature if you like.
Heat to simmer for a few minutes.

Add grated parmigiano cheese on top and serve.

                                                    Bon appétit.

Trump's Plan

His whole life, Donald Trump has been an empty shell with a name and a sales pitch. He learned this during his youth and he built his Trump Organization on that pattern. He added to it by learning enough business to know he could borrow money from banks, put it into a business, build up the image of the business and bring in some customers (for a while). Then he would sac the business, take its assets (being a raider before Carl Icahn taught America about that technique) and bankrupt the company. Banks eventually got tired of this and he had to go overseas for money, When he ran for president, he asked a foreign government (Russia and Vladimir Putin) for help. But, he has built his presidency on his name, fake reputation, claims the good things were his doing (as president he claims the good things Obama did) and produce no actual good results (Congressional Republicans have done a few things). To the contrary he has tried to pay back Putin with idiotic things like legalizing use of asbestos. What kind of monster would do that and endanger everyone's health? Now that he's been uncovered and Mueller is closing in, he's preparing to "go bankrupt, go home, rest on his fake laurels". His pattern is just repeating.

The timing is partly because the mid-terms are coming and Congressional Republicans can see they're in a fight for their careers. When even dark red Texas is considering a Democratic senator to replace Ted Cruz, they're worried.

Does Trump care about the disasters he leaves behind? Not at all. In fact, he has already insulted AG Sessions and his southern style. It merely magnifies what Trump said years ago, that if he ran for president it would be as a Republicans because the Republican voters are so stupid they're easily conned.

He sees this as victory.

The United Kingdom may also reform their economy

A major think-tank in The United Kingdom (which advised the Blair government and the Labour Party) has suggested reforms they consider important to correct some problems which are identical to those we face in America.

Think-tank calls for major overhaul of Britain's economy

It should be interesting to compare their ideas with the ones I'm suggesting.

3rd Recommendation - About the Minimum Wage

A lot of the recommendations I have (and will) make about the economy are about the behavior of the financial sector and how it sucks money away from the "real economy" or how corporations (mostly large and with international affairs) direct money away from investments which could be profitable and employ workers or away from higher wages & compensation for employees.

To overcome that the government has often raised the federal minimum wage to ensure sufficient money goes into the pockets of the working poor (and some just above that). I don't always think that's the perfect solution because it also affects much smaller businesses which cannot manage sudden changes to their labor costs.

Today we are at a place, after some years of business growth, where I believe we should be able to increase the federal minimum wage. The federal minimum wage was last changed July 24th, 2009 to $7.25 per hour. Many states have already raised their minimum wage above the federal level, so it won't be a shock to them at all.

These are the states with a higher state minimum wage than the federal.

Axios did an article on state minimum wages. The main takeaway from the article is that the minimum wages (both state and federal) are too low.

For a bit of recent history of our federal minimum wage, take a look at this U.S. Dept. of Labor article on the minimum wage.

There are about 30 states which have a state minimum wage higher than the federal, there are about 15 states which have the same rate as the federal, there are 5 states with no state-wide minimum wage, and there are 2 states with lower state minimum wage rates (of course, companies there are required to pay the higher federal minimum wage rate).


These are the states with the same state minimum wage as the federal:

What should the new level be? Of states with a minimum wage rate higher than the federal government, there are a few with greater than $10.00, but most are in the $8.25 -- $9.65 range. I would suggest a new rate should be in the lower third of that, perhaps $8.50 per hour. That would give pay raises to people in about 25 states (1/2 of our states).