I came across a “common sense fix” for the economy that I found interesting. In particular, I like the idea of removing capital gains taxes:
“Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous—and immediate—liquidity in the markets. Again, this costs the taxpayer nothing.”
I’m not sure that anyone is staying out of the market for fear of paying 15% tax, but it would be simple to waive gains taxes for 2008.
Ramsey also thinks we should stop paying incentives for CEO failures. I agree. Sure enough, Wall Street has already taken the government’s money and paid itself hefty bonuses :‘(