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America is Not Broke!

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4. Audit the local, state, and national Comprehensive Annual Financial Reports (CAFRs) (http://cafr1.com/). There are 10s of trillions of dollars in the 184,000 CAFRs nationwide. These funds, many invested outside the country, could be used to pay a citizen's dividend in perpetuity, ensuring a Basic Income Guarantee (BIG) for every American. There is $600 billion in California's pension fund alone, paying out just 4% a year to pensioners, whose "managers" rake in billions for often underperforming the market, while government acts as both regulator and investor in the Mother of All Conflicts of Interest! We need impartial accountants to comb through the CAFRs and to do so every year, for the benefit of the American people.


5.   Repatriate Offshore Accounts -- a new report http://www.nydailynews.com/news/world/report-21-trillion-hidden-taxman-offshore-accounts-article-1.1119613 by the Tax Justice Network (http://www.taxjustice.net) shows up to $32 Trillion is stored away in offshore accounts, away from tax authorities.   These funds are held by the top .001% in private accounts managed by the biggest of the TBTF banks, while their owners live in other places where middle class taxpayers pay for vital services and infrastructure instead. This subsidy for the wealthy is unsustainable and must be ended by repatriating these accounts or taxing them from foreign lands.


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These are just 5 places to look for trillions in savings and relocatable funds.   There are others.   Pick one or find your own.   Find out about it.   Learn.   Become Active.   Join a group to effectuate change.   Fight.   And remember -

America Is Not Broke!

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To discuss further, consider joining these groups...





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...and signing these petitions:
-- Replace Property Tax with Ground Rent in New York State - http://www.change.org/petitions/replace-property-tax-with-ground-rent
-- Tax Vacant & Unused Land to Return its value to the Community - http://www.change.org/petitions/tax-vacant-unused-land-to-return-its-value-to-the-community
-- Untax Production and Wages while taxing the use/abuse of natural resources. Polluters pay while workers and entrepreneurs profit from true production - http://www.change.org/petitions/a-new-form-of-capitalism-geonomics
-- Close New York State's budget Gap with money from its own agencies by setting up a State Bank - http://www.change.org/petitions/support-a-public-state-bank-for-new-york-state
- - Produce debt-free United States Notes - http://www.change.org/petitions/end-the-debt-crisis-with-debt-free-united-states-notes

Scott Baker

President of Common Ground-NYC - http://commongroundnyc.org/index.html

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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:

Scott is a former President of Common Ground-NYC (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of articles for (more...)

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