by Rick Badman

Created on: November 23, 2008

Applied Capitalism could save America's economy if the government were willing to make the citizens economic partners and the citizens could trust the government.

My economic system is revolutionary and could change the world. It is a bit optimistic. But I have faith in the people to do the right thing and if we elect public servants and not power hungry bums, my system might work great.

Phase One

After the government adopts the system, elected officials would become bounty hunters, if they choose. Whatever they can remove from the federal budget would entitle the person to 0.1% of what is saved. If $1 billion is cut out of the budget, he would receive $1 million. If they aren't going to cut the budget as a civic duty to the voters, appeal to greed.

We need to control government spending. There is enough waste in the budget annually to make most Congressmen and Senators extremely rich. Voters in congressional districts might not like seeing no pork come back to them. But since pork is used to buy votes, maybe a penalty should be imposed. Call it the "bacon penalty." If you bring too much of the bacon back to your district, you'd have to cut out of the budget as much as the bacon costs before you could start receving a bounty.

Full financial disclosure of what the decisions Congressmen and Senators have made have cost the taxpayers should be available to anyone. The wrong people are being blamed for our economic troubles and the ones most responsible are acting innocent. If a Congressman has cost the taxpayers $400 billion over the last 40 years, they should know it and vote accordingly. They will have to justify the spending or the decisions they made that have cost us hundreds of billions of dollars. Fiscal accountability should lead to fiscal responsibility and control.

Phase Two

Once elected officials demonstrate that they can be trusted with our money, they should be allowed to create companies that we need that will be managed and operated by private individuals. We have seen the auto industry demonstrate why socialism won't work. If you promise people too much, you will have to deliver on your promises which will increase the costs for products you produce. The companies are forcing taxpayers to pay for their "generosity." Maybe if the government can form companies that will compete with the private sector companies that have made the wrong people rich and allowed foreign companies to make profits that should go to American companies, the private sector companies

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