The Path to Prosperity

For the first time since I have really started to pay close attention to what is going on in the government I am hopeful. The Fiscal Year 2012 Budget that they laid out and named "The Path to Prosperity: Restoring America's Promise" really resonates with me. You can watch the video below were Paul Ryan lays it out.



Just a couple of the points from their key facts and summary sheet that really hit home for me are the following (their points in bold, my comments below):

Eliminates hundreds of duplicative programs, reflects the ban on earmarks, and curbs corporate welfare bringing non-security discretionary spending to below 2008 levels.
I feel so strongly about earmarks and have for a long time. Why do we have to bribe politicians with earmarks for their districts when we are paying them to represent us on these bills? Do they really need a library named after them? What a waste... I would rather see a bill not get past than have to throw millions, or even billions, at a politician to get their vote.

What about "corporate welfare"? The reason this country is so prosperous is because of the free market system. What are we bailing them out for? Let them fail! If there truly is a market for what they do, some great start-up company will quickly take their place and learn from the mistakes and we'll be better as a country for it.

Puts the budget on the path to balance and pays off the debt.
Finally a PLAN to actually pay off the debt. Yes it is bold, yes it will be hard, yes we will all be affected by it but it has to happen. The only thing I worry about here is the timeline. It still gives too much time to stray away from the goal. There is no question it will take time though and it can't be done overnight so we just have to hope they/we stay focused.

Calls for a simpler, less burdensome tax code for households and small businesses. Lowers tax rates for individuals, businesses and families. Sets top rates for individuals and businesses at 25 percent. Improves incentives for growth, savings, and investment.
There is currently an ever growing number of companies that are moving their headquarters, and employees, offshore to avoid the burdensome US taxes. Let's give these companies a reason to move back. I'm not sure that 25% is low enough but it may start to show a serious attempt to improve.

Did you find yourself pulling your hair out doing taxes? I know I did! What does it have to be so complex? Only those who truly know it in and out know how to get around it. That hurts the average person. I believe a simplified tax code would go a long ways in gaining back the confidence of the Americans.

Creates nearly 1 million new private-sector jobs next year and results in 2.5 million additional private sector jobs in the last year of the decade.
The only way to create self-sustaining jobs is through the private sector. By reducing taxes on these companies and showing a path back to prosperity companies will again feel comfortable and confident to expand in the US.

There are so many more good facts and objectives in this plan that you should at least read the summary sheet. I have also attached a link to the whole plan and the plan's page for your reading enjoyment.

Click here for the Key Facts and Summary