The Hands-Down BEST Economic Program that NO CANDIDATE is proposing

[liberalpragmatist]

I wish one of the campaigns could find a good policy role for Gary Hart. There are reports he may run for the Colo. senate seat, which would be good. But I also think he'd be great as a senior domestic policy advisor in a Dem. pres. administration or as the influential head of a prominent progressive think-tank.

I love so many things about this program: the child development accounts, the recapitalizing national assets, energy security. I admit that certain parts are more vague and i admit that the part about a progressive consumption tax is something that I don't know enoughabout to form an opinion.

Still, I really wish large portions of this plan were in another candidate's economic program. Do you know if any of the mainstream 6 support child development accounts?...

http://www.garyhartnews.com/hart/writings/speeches/ucla_03_04_03.php

> First, a plan for securing America through savings and investment. Four major initiatives could help make every American family—not just corporate executives, bankers, and lawyers, but also Wal-Mart employees and truck drivers—more secure and provide economic opportunity for every child. The first element of the Securing America plan is a Child Development Account, a down payment on economic security for a generation of Americans. Every child born in America would receive an account with an initial, tax-free government deposit of one thousand dollars. Parents and family then could continue to contribute to and help manage these funds. After reaching adulthood and receiving instruction in finance management, the owner of the account could use the accumulated amount for higher education, job training, home purchase, or to capitalize a small business.

The second element of the plan would make every American eligible for Securing America accounts in which our government would match every dollar deposited in this account up to a maximum amount of one thousand dollars. The total amount saved would likewise be available to start a business, buy a home, finance job training, or finance higher education.

The plan's third element would double the Earned Income Tax Credit to a maximum of $8,000 a year for any American working full time who has a dependent. We could also extend a portion of this benefit to households earning less than $50,000 per year. This benefit could be used to help finance participation in the Securing America account and thus be eligible for the government's matching funds.

...

In addition to the proposed Child Development Account and the child-care tax deduction outlined above, we should also adopt a wage-supplement program for early childhood educators presently compensated at poverty-level wages. This would help attract high-quality, accredited teachers into the earliest education of our children.

Third, we should focus investment and accountability on securing public and private economic structures. It comes too late to hundreds of thousands of investors and employees who have lost billions of dollars to provide a lecture on the dangers of unregulated or laxly regulated markets. We all know the tragic stories from last year. As a senator, I opposed much of the unwarranted deregulation during the first frenzy in the early 1980s, for it was clear from any reading of American economic history what would happen. Unscrupulous executives and managers would take every advantage of curbed regulatory watchdogs that they could to inflate profits and earnings, cut accounting corners, plunder corporate treasuries, and launch their own gilded yachts. Stuff your pockets and sail off into the sunset was the watchword. (end of excerpt)

[w4rma]

1. We need the Senate seat more. There are others who are qualified for

cabinet positions, IMHO.

[will work 4 food]

2. .

Sounds like a tax increase, to me.