For homeowners: Cut the interest rate on all mortgage loans by 50 basis points and extend the payment schedule by three to five years. Convert all variable rate loans to fixed, at prevailing rates, and extend the payment schedule by six to ten years. No fees, points or charges tolerated.

More for homeowners: Provide a pre-paid $5,000 debit card to all free and clear homeowners. The cards are worth double for Ford or GM car purchases, and expire valueless if not used for retail purchases within 60 days of issue.

For retirees: Eliminate all income taxation, at all levels, on any formalized retirement income program. Eliminate all income taxation on one half of all non-retirement plan investment income received by retirees. Provide totally free health care coverage.

For Social Security tax payers below age 35: Reduce mandated contributions to 3% of salary, but allow for additional voluntary contributions. Redirect all contributions to personally owned but "untouchable until age 60" SSRIA contracts with private insurance and annuity companies. Participants would be permanently assigned to qualified providers.

These fixed-income-investments-only contracts would be non-commisionable, management fee only, and benefit identical at all providers. Trustees responsible for directing the investments of SSRIA funds would have strict QDI (Quality, Diversification, & Income) guidelines, with a focus on all kinds of government securities--- federal, state, and local.

For Social Security tax payers from ages 35 to 55: Reduce mandated contributions as above and redirect to SSRIAs. Deposit one half of each person's total existing Social Security deposit account to the SSRIAs.

For Social Security recipients and taxpayers above age 55: Annuitize the income benefit over the next ten years using SSRIAs, starting with the youngest recipients.

For income tax payers: Over a five-year period, replace the Internal Revenue Code with a 10% tax on all income above $40,000 per year. During the same time frame, bring all state and local income taxes to a total of no more than 5%.

There are no tax deductions, but those earning less than $40,000 per year would be exempt from sales taxes.

For governments: Over the same five-year period, institute a 12% Federal Sales Tax on all goods and services consumed or used by individuals. Do the same at the state and local level with a combined cap of 6%. Decrease (thru attrition) the number of federal, state, and local government employees by 30%.

As surpluses develop, sales taxes on food, shelter, clothing, healthcare, and education would be cut or eliminated.

For the financial sector: Abandon mark-to-market accounting rules with regard to mortgage-backed securities until such time as all multi-level mortgage products can be unwound and restructured. Consider a permanent ban of all market value assessment of income purpose, and other illiquid, securities.

More for the financial sector: Unravel all multi-level derivatives, control blatant and damaging speculation, and protect shareholders from abuse by corporate executives. Adopt a global SIBORAP code, one that is created by securities investors.

For health care and insurance cost control: Reform the tort law system with an eye to restricting awards at reasonable numbers and to subject all law suits to non-peer, economic-impact, review before allowing them to move forward. All costs of extraodinary and frivolous lawsuits must be borne by plaintiff attorneys.
 
For corporations: Eliminate all income taxes, fees, and nuisance charges at all levels in exchange for an audited requirement of: more jobs, higher non-management compensation, reduced product prices, or increased health care benefits.

Also for corporations: Eliminate matching contributions for Social Security over the next five years, starting with the age 35 participants and working higher. Note that all such contributions would have been reduced to 3% already.

For the self employed: Eliminate matching contributions for Social Security immediately, and refund all such contributions made over the past ten years to any business still in operation.

For heirs: Repeal the confiscatory death and gift taxes at all government levels and return all the stolen monies to the estates involved for immediate distribution--- also retroactive 10 years.

For investors: All investment income would be treated equally (at flat tax rates), except municipal bond interest would continue to be tax free--- but at all jurisdictional levels. All public corporations reporting profits would be required to disburse at least 25% of their profits to shareholders.

For education: The federal government would support and subsidize (even construct if necessary) fifty, non-sectarian, non-political, four-year, non-research, colleges or universities.

A total enrollment of between 100,000 and 150,000 students, with 75% tuition coverage, and some form of qualified pool lottery selection system. Management, administration, student selection, and professional staffing would be provided by the private sector.

Chances are good that this revised package will reduce taxes, increase disposable incomes, grow the economy, eliminate the Social Security mess, increase tax revenues, reduce all budget deficits, provide better health care, reduce insurance costs, encourage home ownership, and reduce the size of government.

Hmmmm. Maybe the next President.