GenSeneca's plan to go from record debt to record surplus:
The federal government has 264 million acres of land, selling off 200 million acres at a minimum of $1 million/acre would bring in at least $200,000,000,000,000... That's 200 Trillion with a T.
That's enough money to completely eliminate our national debt (currently 14 trillion) and still have enough left over to cover the $106 trillion worth of IOU's in the SS fund. This would eliminate 100% of our nations debt.
The federal government would still have $80 Trillion left over to use as principle in a real savings fund where it could accumulate interest. The interest on that principle could be used to help fund local, state, and federal governments.
Investing the principle with a 2% annual interest rate would yeild at least $1,600,000,000,000 - 1.6 Trillion dollars per year. With a 3% interest rate, 2.4 Trillion dollars per year. With the right management of government funds and tight controls on spending, the federal taxation of American citizens could be completely eliminated.
Now many of you are asking, how can we sell an acre of land for $1 million dollars? I'm looking at two types of land sales, land with usable natural resources and tax exempt land. I'll begin by explaining the latter of the two.
Tax exempt land would be similar to an indian reservation, the land itself would be exempt from all taxation (local, state and federal), the deed holder and any persons recognized by the owner of the property as a resident would also be exempt from all taxation.
A zoning restriction would prevent the land from being used to harvest/manufacture raw materials and/or goods for sale or use outside of the owners land boundries. This restriction would not extend to residential, commercial, and agricultural development of the land.
Use of any publicly owned services that are paid for through taxation, such as police, fire, EMS etc., could still be utilized by the land and/or residents, for a per use fee. Roads, bridges and otherwise publicly funded projects found on the land would be the financial responsibility of the land owner to build and/or maintain.
This leaves only land with natural resources, such as oil, shale, nat gas, mineral deposits etc., which would be auctioned off to the highest bidder beginning at $1 million per acre. Regulations on the production, extraction, and use of these natural resources would be drastically pared back to streamline the owners ability to access and utilize the resources as quickly and safely as possible. This land would NOT be tax exempt.
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I look forward to hearing responses and answering questions about my proposal.
