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Financing the American World Service Corps

Financing the American World Service Corps. Reducing the chances and overwhelming costs of too often reverting to war as a public policy. Foreign ownership up 42% ++. Foreign Holdings up faster than Debt since 2001. AWSC Congressional Proposals list five major funding mechanisms.

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Financing the American World Service Corps

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  1. Financing the American World Service Corps Reducing the chances and overwhelming costs of too often reverting to war as a public policy. PLEF

  2. Foreign ownership up 42% ++ Foreign Holdings up faster than Debt since 2001 PLEF House Committee on Financial Services 11-2006

  3. AWSC Congressional Proposals list five major funding mechanisms • Tax Revenues. • Miniscule import levee on developed nations with which we run a significant trade deficit • Public incentive driven contributions from America’s non or low-tax paying corporations. • Public incentive driven contributions from America’s richest. • Foundation donations. PLEF

  4. Bernanke: Fed faces global challeges SF Chron 3-3-07 • The huge flow of cash in and out of the United States, with foreign investors holding one-quarter of long-term, fixed income securities and more than half of publicaly held U.S. Treasury debt, has drastically changed the financial landscape in recent years. In 2006 “foreigners acquired $1.6 trillion in US assets, while U.S. investors purchased more than $1 trillion in foreign assets.” PLEF

  5. With visionary leadership fielding the AWSC could pay for itself • With enough public knowledge and inspiring leadership, the AWSC could be funded largely by non-tax based revenue streams. • By implementing the AWSC we could reduce the $600,000 (includes hidden costs) we annually now spend on each of our 1.5 million military personnel. PLEF

  6. One of five funding mechanisms in the AWSC Congressional Proposals calls for levying a minuscule import duty on those developed nations with which we carry the largest significant trade deficit. • Why? • Some reasons for a minuscule import levee reflect themselves in the following slides. PLEF

  7. Top Trade imbalances PLEF

  8. China’s debt ownership2001 - 2006 PLEF

  9. OPEC’s US Debt ownership 2xed in 2 years PLEF Joint Economic Committee Economnic Policy Brief 11-2006

  10. Debt ownership => Equity ownership • Those holding significant amounts of our debt often turn those debt securities to equity ownership of American companies, large and small. • Nations who save money by remaining at peace are smart for buying equity. To get back to peaceful saving and rebuilding our middle class, we need the AWSC and a minuscule levee will help it. PLEF

  11. Another funding mechanism comes from listing at a public web site donations from America’s Richest to underwrite the AWSC’s costs. • Gates,Buffet, and others have stepped up during these dangerous times to use their wealth to make the world safer for their children and grandchildren. More can and should be done. • Please read the funding section of the proposed legislation to understand all funding mechanisms. PLEF

  12. Forbes Richest 400 2006 Bill Gates Donated % Wealth Philanthropy - Donated to underwrite AWSC? A lot? Wealth Net Worth Given Away Adjusted $48,000,000,000 $76,291,699,101 37% $28,291,699,101 Warren Buffett $41,000,000,000 $41,321,189,039 1% $321,189,039 Paul Allen $20,000,000,000 $20,798,183,920 4% $798,183,920 $14,200,000,000 $15,455,224,204 8% Michael Dell $1,255,224,204 PLEF www.forbes.com/2004/09/23/cz_dw_0923philan_rl04.html

  13. How much might the top four of the Forbes Richest 400 donate to underwrite AWSC? • Most of Forbes Richest donate very little to charity… The Turner, Gates, and Buffet standards gives the ultra rich an opportunity to use wealth to dramatically improve the world for their children by funding the AWSC that will involve millions of Americans if improving the world. PLEF Forbes 2004 http://www.forbes.com/2004/09/23/cz_dw_0923philan_rl04.html

  14. America’s richest also care • How much might the Forbes Richest 400 donate to underwrite AWSC? Perhaps a lot. • What %age of their wealth do they now give to charity? • Presently most give a very small percentage. • http://www.forbes.com/2004/09/23/cz_dw_0923philan_rl04.html PLEF

  15. How much might the richest Americans donate to underwrite AWSC? • The AWSC Congressional Proposals lists the richest Americans at a AWSC publicly accessible web site. • When the AWSC passes Congress, families and friends of volunteering Americans will see at the web site how much the richest Americans are investing in making the world safer by helping underwrite the cost of sending our best to build peace and stability. PLEF

  16. Forbes Starting Four PLEF www.forbes.com/2004/09/23/cz_dw_0923philan_rl04.html

  17. Forbes 5th - 8th …barely begun % Wealth Donated Wealth Net Worth To Charity PLEF

  18. Forbes Richest 2006 9th –12th Sumner RedstoneWealth $8,178,367,127 Donated $ 78,367,127 1% Net Worth $8,100,000,000 Phil Knight Wealth $ 7,400,000,000 Donated $64,771,782 1% Net Worth $7,464,771,782 George Soros Wealth $12,637,283,942 Donated $5,437,283,942 43% Net Worth $7,200,000,000 Eli Broad Wealth $7,613,074,469 Donated $1,613,074,469 21% Net Worth $6,000,000,000 Michael Bloomberg PLEF

  19. Forbest Richest 2006 , 13th -16th PLEF

  20. Charitable Trusts, Philanthropic Foundations Trusts and foundations may find the American World Service Corps meshes well with their goals of improving world and nation and reflect that in grants and donations. If the Gates Foundation wants to eradicate AIDS, a robust army of American volunteers could help make that happen. PLEF Financing section of AWSC Proposal

  21. Donations by the richest 1% of taxpayers. • From the AWSC Congressional Proposals: “Consequently, a public web site linked to the AWSC web site will list the The Forbes Richest 400 Americans, who have benefited most from our nation’s human and physical infrastructure… Each month the web site will list donations that America’s richest have made to implementing the AWSC and reducing its cost to America’s taxpayers. Congress should seriously consider not having the donations counted as tax deductible.” PLEF Financing section of AWSC Proposal

  22. Public knowledge of corporations paying little of no tax • Many large corporations pay little or no taxes. The AWSC web site will list those corporations with the hope that public knowledge of this will influence many of these corporations to make non-deductible donations to underwriting the service our best resources will be giving to make the world safer for their businesses. PLEF

  23. Corporate tax %age of GDP1942 - 2003 Over the past 60 years corporate income taxes averaged: 5.6 percent of the GDP during World War II, 4.5 percent in the Truman and Eisenhower administrations, 3.7 percent under Kennedy and Johnson, 2.7 percent under Nixon and Ford, 2.4 percent under Carter, 1.6 percent in the Reagan and Bush I administrations, and 2.1 percent under Clinton. PLEF

  24. C) Donations by certain low tax paying corporations. (from the AWSC proposals)…”Those corporations who have paid none, little, or received federal tax paybacks (negative taxes) for the past five years would be listed. This section of the AWSC web site would strongly urge these light or none paying corporations to contribute to underwriting the cost of … For those who paid little, none, or negative taxes, Congress should not allow the donations to be tax deductible… PLEF From Financing section of AWSC Proposal

  25. America’s lost prestige and economy • Astonishing percentages of people around the world no longer respect America. • Our military as well as our economy and middle class is breaking. • The AWSC helps rebuild our prestige,our economic competitiveness, and our military while teaching us to understand and productively work with the world and in its global commerce. PLEF

  26. Our Fiscal Imbalance alone should inspire us to erase the lack of world understanding that leads to stupid wars that debilitate our middle class and give us wounded warriors for generations. PLEF

  27. GOVERNMENT ACCOUNTABILITY OFFICE REPORT “The U.S. government’s total reported liabilities, net social insurance commitments and other fiscal exposures continue to grow and now total more than $46 trillion, representing close to four times current GDP and up from about $20 trillion or two times GDP in 2000.” http://www.fms.treas.gov/fr/05frusg/05frusg.pdf PLEF

  28. $49,403,000,000,000 Total US liabilities The net present value for all of the responsibilities (for current participants over a 75-year period) is $49,403 billion, including Medicare and Social Security payments, pensions and benefits for Federal employees and veterans, and other financial responsibilities. http://www.fms.treas.gov/fr/05frusg/05frusg.pdf U.S. Liabilities PLEF GOVERNMENT ACCOUNTABILITY OFFICE REPORT p12.

  29. Educated World Citizens prefer… • Living productively. Raising their children in harmony. • Building over bombing and killing. • Learning of different cultures and lifestyles without having one forced upon them. • Implementing the AWSC gives us the opportunity to peacefully do all of the above while generating a healthy economic and social multiplier throughout the world. PLEF

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