Wednesday, May 27, 2020

#95 1977 Textbook Perfect Ad

Issue #95 — Wednesday, May 27, 2020
Posted by Denny Hatch

This 1977 Direct Marketing Ad Was Perfect.
It would work like gangbusters in 2020 in print, email or the Internet!


The two-page spread above was the result of millions of dollars of testing by myriad book clubs over a period of 41 years. The very first such club was Book-of-the-Month invented by Max Sackheim and Harry Scherman in 1928. 

BOM was an enormous success and quickly followed by Literary Guild, History Book Club, Mystery Book Club, Military Book Club, and a slew of others. In the 1960s and 1970s I ran the Peter Possum Paperback Book Club, Macmillan’s Lawyer’s Book Club and the Better Homes & Gardens Family Book Service.

You Wanna Successfully Market Books, Consumer and Business Products and Services—in fact anything—via email, the Internet, space advertising and/or direct mail? Here’s how to do it.

First Identify Your Prospects—Who’s Gonna Buy.
• “Success in direct marketing is 40% lists, 40% offer and 20% everything else.” —Ed Mayer

Hire a top list consultant.

Get a list of postal and email lists of people by name (not “Resident”) who:
• Have bought (or evinced interest in) your kind of product or service.
• Buy by mail order (over distance).
• Can afford what you are selling.
• Pay their bills.

If you plan to advertise, be sure to pick publications and websites where:
• Direct marketing ads appear regularly.
• Your competition has advertised on a repeat basis.

Get samples of your competition’s direct mailings, email offers plus print and digital ads to see if they jibe with what you are offering.
"If you want to be successful in direct marketing, see what your competition is doing, watch those efforts that keep appearing over and over again (which means they are successful and bringing in tons of money), and then steal smart." —Dorothy Kerr

Come Up with a Barn Burner of an Offer.
• Always make an offer. No offer, no reason to respond. Don’t throw money away.

• Doubleday's terrific offer: your choice of 6 hardcover books for 99¢.

“If you want to dramatically increase your response, dramatically improve you offer.” 
—Axel Andersson

Consider a Free Gift/Premium.
—Doubleday offers a Free Tote bag when you join.

Dick Benson on Premiums
• "A premium is a bribe to say Yes now.”

• “Dollar-for-dollar, premiums are better incentives than cash discounts.”

• “Desirability is the key element of a premium; the relationship of the premium to the product isn’t important.”

• “Two premiums are frequently better than one.”

Create a Powerful, Evocative Headline


• Doubleday’s copywriter did not say: “Take 6 Books for 99¢.” A book is heavy clunky thing of paper, glue and millions of tiny black symbols. Instead the headline says: “…indulge your fantasies this month.”

• “Your fantasies” might be:
—Thrilling reading experiences to liven up your life.
—Receiving six best-selling titles with colorful covers to be displayed on a bookshelf that will impress friends, family and business associates with your literacy and intellect.

• The 13 most powerful and evocative words in the English Language:
You - Save - Money - Easy - Guarantee - Health
Proven - Safety - Discovery - New - Love – Results

• The word “you” or “your” is used three times in the Doubleday headline. The ad is talking directly to you, the reader.

• “Headlines on the ad and teasers on the envelope are the hot pants on the hooker.” —Bill Jayme

“The headline selects the reader.” —Axel Andersson

“Headlines make ads work. The best headlines appeal to people’s self-interest or give news.” —John Caples

• “On average, five times as many people read the headline as read the body copy. When you have written your headline, you have spent eighty cents out of your advertising dollar.” —David Ogilvy

“Headlines that promise benefits sell more than those that don’t.” —Ogilvy

• "Your headline should telegraph what you want to say—in simple language.” —Ogilvy

• "Readers do not stop to decipher the meanings of obscure headlines.” —Ogilvy

• "The more typographical changes you make in your headline, the fewer people will read it.” —Ogilvy

“Some headlines are ‘blind.’ They don’t say what the product is or what it will do for you. They are about 20 percent below average in recall.” —Ogilvy

“When you put your headline in quotes, you increase recall by an average of 28 percent.” —Ogilvy

Now, I spend hours on headlines—days if necessary. And when I get a good headline, I know that my task is nearly finished. Writing the copy can usually be done in a short time if necessary. And that advertisement will be a good one—that is, if the headline is really a “stopper.” —Claude Hopkins

• “The identical ad run with various headlines differs tremendously in its returns. It is not uncommon for a change in headlines to multiply returns from five or ten times over.” —Hopkins 

• In other words, never-oh-never spend many hours perfecting a career-changing email message and then slap on the first subject line that pops into your head and click "Send."

The Order Mechanism —Easy and Foolproof
 

“No response device, no response.” —Anver Suleiman

“Make it easy as possible for the customer to order.”
—Elsworth S. Howell

“The order form should be so simple a moron can understand it.       
—Malcolm Decker

• The order coupon above is a classic requiring just four lines to fill out:
­—Six rectangular boxes for the 6 ID numbers of your 6 chosen titles.
—Name line, address line, city, state and zip line.
—Stick it in an envelope and drop it in the mail.

• The offer—indeed the entire business model of the club—is described in the coupon in just 78 words:
—Any 6 books for 99¢.
—You will be billed.
—Agree to buy 6 more books (at huge discounts) in the coming year.
—Free tote bag.

• What I would add in 2020 to this 1977 Order Coupon
—800 Number
—URL for e-responses
—In other words, let the customer order in the most convenient way.
—Always put your address on the order device. If the prospect detaches the coupon and loses the ad, it's still possible to order.

• What is sweet about the old 1977 order coupon
—Send no money; bill me.
—The responder is not forced go through the nuisance of giving credit card info, which could hurt response. That says Doubleday trusts that you’ll pony up the 99¢ and therefore trusts you.
—Today’s marketer—in this sleaze era of “I got away with it” and premium bandits—would be nuts not to insist on credit card data.
—This would be an interesting test—w/wo credit card data. 

About Order Mechanisms and Coupons
• Never go live with a promotion until the ordering process has been tested and proven (1) that it works and (2) it's easy follow. 
 
• Recruit five people—strangers, not office mates—to go through the ordering process. If anyone has problems, you should be told at once.

• For example, with paper order forms, is there enough room for the customer to write everything?

Takeaway to Consider—The Old Rules
 Work Just Fine for Email Marketers.
• When email/Internet marketing began to catch fire in the mid-1990s, I was in my mid-50s and well-known for my iconic newsletter and junk mail archive service, WHO’S MAILING WHAT! And later as editor and publisher of Target Marketing magazine. Plus 7 business books.

• Throughout my career I was lucky to have had great mentors who welcomed my picking their brains. My first writing success came when I was 15 years old.

• Enter the Internet—a new medium. Every business, individual entrepreneur and design studio jumped on the bandwagon. Almost all had no idea what the hell they were doing.

• These hotshot tyros—who had never been mentored—hired young people to assist them.

• Think of Dean Swift (of Gulliver’s Travels fame) who wrote:
  Little fleas have smaller fleas
      Upon their back to bite ‘em.
  And smaller fleas have lesser fleas
      And so, ad infinitum.

• I intuitively knew that all the rules and techniques I had learned and written about over the years were applicable. This was marketing and sales—creating wants (not servicing needs). It’s headlines, copy, offers, design, fulfillment, finding the right people to market to. It's not about digital vs. print. It's about tried and true communications.

• Alas, these hotshots’ messages to me were: “Hey, ole-timer, the Internet is a new medium and a new paradigm. It’s a world of new rules and we make the rules now. So, buzz off.”

• Whereupon the Dot-com Bubble Burst and a ton of the hotshot (non-mentored) kids were canned and moved back in with mummy and daddy.
The dot-com bubble (also known as the dot-com boom, the tech bubble, and the Internet bubble) was a bubble caused by excessive speculation in Internet-related companies in the late 1990s, a period of massive growth in the use and adoption of the Internet.
Between 1995 and its peak in March 2000, the Nasdaq Composite stock market index rose 400%, only to fall 78% from its peak by October 2002, giving up all its gains during the bubble. During the crash, many online shopping companies, such as Pets.com, Webvan, and Boo.com, as well as several communication companies, such as Worldcom, NorthPoint Communications and Global Crossing, failed and shut down. Some companies, such as Cisco, whose stock declined by 86%, and Qualcomm, lost a large portion of their market capitalization but survived, and others, such as eBay and Amazon.com, also lost value but recovered quickly. —Wikipedia
• In short, this post is an attempt to show how the old rules of direct marketing—developed over 800 years—directly relate to the nascent digital age. Hope you find it helpful.


P.S. For the fascinating story of how a seasoned direct marketer used proven direct marketing know-how to catapult AOL into the Internet stratosphere and bring in 30 million members, check out my 2001 profile of the Direct Marketer of the Year: AOL and the Genius of JanBrandt.

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Word count: 1625

Tuesday, May 19, 2020

#94 Secret of Successful Email Marketing


ISSUE #94 — Tuesday, May 19, 2020
Posted by Denny Hatch


The Secret of Successful Email
Marketing: Think Lede-gen.


Note: The word “lead” is also pronounced led—as in the toy soldiers of my childhood. As of 1950s the new spelling of “lead” relating to texts—as in lead paragraph—is “lede.” It’s a homophone. No question about how it is pronounced. I like it. —DH


About Today’s Blog Post
Last Monday a.m. I went into my Yahoo in-box. I clicked on a Washington Post newsletter I subscribe to and started scanning the contents. In the middle of the copy I  saw an intriguing little ad—maybe 2"x3". I clicked on it.

Immediately my iMac screen was completely dominated by the image above.


Whereupon I started watching Jim Rickards deliver a 45-minute jaw-dropping, fact-filled lecture on the Coronavirus catastrophe and the coming consequences:
"Look, I’m about to show you undeniable proof this current economic shutdown could trigger another Great Depression… Something 10 times worse than what happened in 2008. And that’s why I'm writing to you today… To show you the five steps you need to take to protect your family and your wealth from this looming unprecedented catastrophe. These are the same steps I’m taking to protect my loved ones."
Rickards’ Unfortunate Delivery
Rickards speaks in a flat monotone with no energy, no emphasis, no warmth, no anger, no excitement. He drones on and on and on, punctuating his delivery with photos, newspaper headlines and poignant quotes. Through much of his pitch I wanted to slash my wrists.

The only fun, diverting element is the occasional appearances of a grey cat in the background doing cute cattish things.

At first I had no idea what the hell Rickards was selling. But, boy he’d done a ton of research and was convincing.
In that first 35 minutes I began fret that this guy might be a high-powered consultant who was looking for an investment from me of several hundred dollars or more. Being a pensioner, I was not about to spend this kind of money.

I was about to jump off the train when he began revealing some specifics of his philosophy and products—books, special reports, and actions to take. Among them:
Make sure you have enough water, basic food, and toiletries to last at least 3 months.
• Buy gold—what Goldman Sachs calls it the “currency of last resort.”

• Invest in a boutique silver mine whose shares are going for just $3. (“It just needs to go up another $3 for you to double your money.”)
• The best way to hedge against potential market losses is to buy crash contracts.
• Beware the Ticking Time Bombs in your portfolio.

Okay. I recognized Jim Rickards for what he is. He’s one of those fear-mongering survivalist gold bug types that showed up once a year in the ‘80s and ‘90s at Howard Penn Hudson's annual Newsletter Association conferences in Washington, D.C.’s Mayflower Hotel. Hardly an original thinker. But—given his personality limitations—a pretty good salesman.

After roughly a rough 45 minutes of his mesmerizing tedium, Rickards finally made me an offer:
“You can take a look at my research and receive everything I’ve mentioned so far, at no risk to yourself. Simply take a risk-free trial subscription to Strategic Intelligence, and aside from your 12 monthly issues, I will immediately send you…”

"So today you can take a risk-free trial for half of the normal rate. In other words, take this $261 value for only $49 for the entire year."
Takeaways to Consider 
• Think of email marketing as lede generation marketing. 

• Lede-gen marketing was a mail order technique for selling really expensive products or services where you didn’t want mention price at the outset. For example: homesites on a Jack Nicklaus golf course in Georgia or executive jets.

• "If you spend too much on step one—the initial contact—you'll lose money. Guaranteed." 
—Bob Hacker, Seattle Marketing guru
 
 • In pre-Internet days you sent a cheap-o lede generation postcard or simple mailing with a powerful irresistible message to a list of relevant prospects. Or you ran ads in relevant publications. You didn’t talk price. You spewed benefits, benefits, benefits and promised no risk. Your response mechanism was a simple, “Yes, I’m interested!”
• You followed up with a series of steps via mail or phone. The point of each step was to get the person to say yes to the next step. It was essential never to say anything that would give a reason to say "no" anywhere in the sequence.
• In this digital age you send an email that costs virtually nothing or buy a small ad like the one I saw in my Washington Post e-newsletter.
• Instead of “Yes, I’m interested” the response is an instantaneous click on the face of the l'il ad.
• Unlike old-fashioned lede-gen marketing, where the sales cycle can go on for weeks or months, Rickards had this fish in his net a nanosecond later. He fed my desire for instant gratification with his fascinating, tortuous follow-up. He compressed possible weeks of a sales cycle into a 45-minute orgy of information.
• Whether a product or service, consumer or business, it is essential to have a powerful sales presentation that hypes the 7 key copy drivers—the emotional hot buttons that make people act:
Fear - Greed - Guilt - Anger - Exclusivity - Salvation - Flattery

"If your copy isn't positively dripping with one or more of these, tear it up and start over." —Bob Hacker
• Rickards uses all of these.
• The online infomercial follow-up to the lede can use expensive razzle-dazzle film wizardry or engaging, believable salespersons giving an intimate and captivating tour of the features and benefits.
• I would use a warm, enthusiastic Ron Popeil or Billy Mays rather than the lugubrious Jim Rickards.

• At one point Rickards referred to himself as a "trusted economist." I suddenly remembered the definition of "economist"— a guy who'd marry Linda Lovelace for her money.
• How long should it be? As long as it takes to tell the story and get a positive response.
• Remember, length is not an issue. With e-marketing you are not spending big dollars on advertising space in publications or buying airtime on TV. You own this presentation and you are bringing prospects and customers into your world to view it in the privacy of their home or office on a desktop computer, iPad or smartphone.
• For example, a 30-second commercial on the 2020 Super Bowl required a huge production budget plus $5.2 million for each 30 seconds of airtime. Meanwhile—in that 30 seconds—millions of prospects were in the loo or deep in discussions of the action they just witnessed on TV.
• Email marketing gives you privacy and the viewer’s undivided attention.
• Send brief, powerhouse emails—or take small ads in relevant e-publications—with a Click Here response mechanism. 

• Do multiple split tests on your lede-gen emails and mini-ads. Constantly try to beat your control. 


• For example, here are three Jim Rickards mini-ads running in Washington Post and The New York Times online. I clicked on the ad at right. The ads have been running daily, so the promotion is obviously profitable. 



• Which was the winner? Only Rickards knows.
• Once prospects click through, they are in your world. You own them.
• Two interesting elements:
1)    There was no way I could speed up Rickards’ interminable pitch. I had to sit through the entire thing. I was getting bored and damn near bailed out early.
2)    However, if I clicked to stop the show, I was immediately given the opportunity to either continue watching or click to see the 8,415-word transcript—a veritable tome.
• All the old proven direct mail order form elements are in play:
   —Make it easy to order.
   —A bunch of free premiums.
   —Massively-discounted price.
   —If dissatisfied for any reason, call to cancel.
   —Full refund if you cancel.
   —And keep everything you received as a subscriber.

• THE ARITHMETIC:  Jim Rickards is a member of Bill Bonner’s sprawling Agora worldwide financial services conglomerate with headquarters in Baltimore, Maryland.  Bonner presides over 120+ newsletters and nearly 300 books that serve 1 million readers that reportedly generate revenues of roughly $500 million a year. According to the Washington Post’s rep Jacquelyn Cameron, the small lede-gen ads appear in the Post’s Daily 202 digital newsletters with a circulation of roughly 500,000. The cost of the ads is $65,000 for a one week “exclusive” sponsorship.

• I believe the Rickards/Agora digital marketing technique—mini-lede-gen ad placements (or short simple emails) with click-thru to a smashing landing page and elaborate sales pitch—can work for any product or service, business or consumer, for-profit, nonprofit or fundraising.

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Word count: 1373

Tuesday, May 5, 2020

#93 Fourteen Commonsense New Taxes


Posted by Denny Hatch

THESE 14 COMMONSENSE NEW TAXES ARE NEEDED TO SALVAGE THE U.S. ECONOMY

     And What's More, Americans Will Love Them!


 

IN THE NEWS
Tensions Emerge Between Republicans
Over Coronavirus Spending and How to
Rescue the Economy
The economic havoc wreaked by the Coronavirus
pandemic is opening up a rift in the Republican
Party — as the Trump administration and some
GOP senators advocate for more aggressive
spending while senior party leaders say now
may be the time to start scaling back.
—Seung Min Kim
Washington Post, April 25, 2020 at 5:50 p.m. EDT 

The U.S. Is Sad—a Low-Taxed, Third-World Oligarchy. Millions Awake Every Morning with a Sense of Dread.
42 Million Americans Are Going Hungry—one out of seven.
30 Million Unemployed.
Gun Violence Has Turned America into a War Zone.
• 27.4 Million Americans Have No Health Coverage
The U.S. Ranks 54th  in the World in Life Expectancy.   
54,259 U.S. Bridges Are in Dangerous Disrepair.
• $300 Billion Needed to Replace America’s Ancient Water Pipes.
U.S. Air Traffic Control Runs on 40-year-old Technology.
• Myriad Threats to America’s Power Grid—Cyber Attacks, Weather, Accidents.
In 2017, Amazon Paid No Federal Tax on $5.6 Billion in Profits.
All Americans Are Angry—at each other or at something!

                Citizens in the Happiest Countries
                Do Indeed Pay High, High Taxes.
Taxes enable people pool their money to buy necessities and luxuries they cannot afford on their own—guaranteed health care, safe bridges, beautiful roads, good schools and universities, hospitals, world-class airports, air and rail safety, clean water, police, fire protection, sanitation, first responders, national defense and competent international diplomacy. 
     Without these support systems, life is miserable.
    That's why residents of high-taxed countries wake up every morning happy. 

The Trillion-pound Gorilla Everyone Wants to Ignore
Click here on the US Debt Clock to see the exact trillions of dollars every U.S. citizen owes right now—this second. 

What Does $1Million/$1Billion/$1Trillion Look Like Stacked Up in $100 Bills?

As of May 4, 2020, We Owed $24.9 Trillion (In $100 bills, it's a stack 15,712 miles high.)
     • That’s $75,690.00 owed by every citizen (including every newborn baby).
     • That’s $201,168.00 owed by every taxpayer.    
     • Annual interest (debt service) on $24.9 trillion National Debt is around $300 billion a year and on course to quadruple to over $1.2 trillion a year.

The Key measurement Is Public Debt to GDP Ratio.
When the country owes more than the entire Gross Domestic Product—all the goods and services created annually—the situation is dire. 

The U.S. Has Been in Worse Financial Shape
This was the case in the 1940s and1950s following World War II when the country was mortgaged to the eyeballs in order to save ourselves and the world.
     It was dealt with then. We must deal with it with now.


  

Note the Above Chart—especially the date at left. This was the end of World War II when the national debt was $269.7Bbn ($3.7 Trillion in today’s dollars). We were deeper in debt in 1946 than we are today. The recent Coronavirus avalanche of rescue cash puts us roughly where we were in 1946.

The Only Fix: Oceans of Tax Money Pouring Into the U.S. Treasury for years to come.
The only way to get cash to pay this debt down is raising taxes.
     For America’s politicians, increased taxes are the third-rail—a political Coronavirus.
     The specter of raising taxes terrifies members of the Senate and the House. They all remember how six short words cost George H.W. Bush a second term:
"Read my lips. No new taxes."
Bush caved and taxed. He lost the presidency to Bill Clinton. 



 This 19-Point Financial Agenda Will Make America Great and Make Americans Happy.
#1 New Tax.  
Raise the Top Tax Bracket Back Up to 91%.


A 91% Tax Rate Sounds Onerous. It’s not.
Warren Buffett and Bill Gates agree the rich should pay more taxes. In addition, more than 400 millionaires urged Congress not to cut their taxes.
     As the chart above shows, the top tax bracket in 1948-1951 was 91%. The rich-rich did not pay a flat 91% of their income. The tax was graduated so that only income over $400,000 was taxed at the 91% rate. In today’s dollars, that $400,000 floor would be $4.3 million. 
     How much money do the rich-rich need to pay for their lifestyles? The average American Joe and Jane (99.5 percent of the population) could live very well today on a net income of $4.3 million a year.
     Put this another way: with 76.4 million taxpayers paying zero federal taxes and a 37% top U.S. federal income tax bracket, there is no way in heaven, here on earth or in Hades below the cataclysmic multi-trillion national debt will be paid down—ever.

#2 New Tax.
S.Q.U.A.T.
 Every human being in the U.S. (all 327 million of us and our pets) has the right to breathe. Air is free.
     But let's talk about machines—great and small—that gulp air, turning it into carbon emissions, greenhouse gasses and climate change wrecking the planet.
     From smallest motorized scooters and home heating units to trucks, buses, yachts, giant jet airliners and the oil-guzzling largest moving objects on the planet—cruise ships and oil tankers—suck up humongous amounts of air and spit out pollutants that are destroying the planet.
     They should be penalized—and taxed!


Academics Crow About “Emission Taxes and Carbon Credits.”

Here's the official definition:

"...a generic term for any tradable certificate or permit representing the right to emit one ton of carbon dioxide or the equivalent amount of a different greenhouse gas." 

     This is wooly-headed think-tank verbal gibberish.
     Let’s talk vast amounts of cash penalties streaming into the national till.
     These penalties are S.Q.U.A.T. — “Society’s Quantity Usurping of Air Tax.”
     If your machinery usurps more than your personal share of air, you pay S.Q.U.A.T. on the fuel you burn—a tax per gallon of gasoline, diesel, aviation fuel, heating oil and heavy fuel oil for ships.
     Fuel users will lobby hot and heavy against S.Q.U.A.T.—American Automobile Association, airlines, shipping companies, corporations, cities and states.
     Truth be known, the United States has the cheapest fuel—and taxes on that fuel—in the world.




In short, Americans have been spoiled for centuries, thanks to politicians’ fear of raising taxes and riling voters and big business. With S.Q.U.A.T., Americans will be joining the rest of the world (and making America Great again).
     Sure S.Q.U.A.T. is a tax. But it shows up in small incremental amounts when we pay at the pump, buy groceries and fork over our credit cards for airline tickets, retail goods and services. Everything becomes a tad more expensive. That must happen to pay down the debt.
     Note: Another huge source of pollutants and global warming: 
farts and poop
 of cattle and livestock. A way must be found to measure and tax these four-legged transgressors.

#3 New Tax
 
V.A.T. (Value Added Tax). 

Over 140 countries in the world—including all OECD countries—impose Value Added Taxes—a small tax on each link in the stages of manufacturing and services.
     Like S.Q.U.A.T., the slight increase in costs is hardly noticed.
     The only major country absent from the roster: The United States.
 

#4 New Tax. 
Force All Corporations to Pay Federal Taxes. 
Sixty Fortune-500 Corporations paid no federal taxes in 2018. In 2018 Amazon paid no federal income taxes but also received a $129 million tax rebate from the federal government.

#5 New Tax.

Tax U.S. Corporations That Send Jobs Overseas.
These 15 corporations send thousands of U.S. Jobs abroad: Carrier, Morgan Stanley, IBM, Lowe’s, University of California, San Francisco, GE, Batesville Casket Company, PG&E, Mondelez International, AT&T, Verizon, Microsoft, Rexnord, QVC, Illinois Tool Works.


#6 New Tax.
Tax U.S. Corporations That Have Left America. These 10 U.S. corporations moved overseas to avoid American Taxes: Burger King, Budweiser, Medtronic, Purina, McDermott, Seagate Technology, Good Humor, Frigidaire, Actavis/Allergan, Lucky Strike.


#7 New Tax.        
Every American Should Pay Something in Federal Taxes, Even if It's Only a Couple Bucks a Month. 
For example, Donald Trump reportedly lost $1.7 billion over ten years and paid no federal taxes during eight of those years. Yet he lived large like a mid-East 17th century potentate in some of the priciest real estate in the world (e.g., Trump Tower, New York and Mar-a-Lago, Palm Beach, Florida).
    Think of it!
76.4 million taxpayers pay no federal income taxes.
    If a person gets away without paying any taxes—for whatever reasons:
     • The system is being gamed and we are all being ripped off.
     • What’s more, paying no taxes is a nasty habit

     Will non-payers suddenly start paying taxes next year… and the next… and the next—even though circumstances have changed for the better?
     Not bloody likely! 

#8 New Tax.
Impose an Internet Federal Sales Tax on All Goods and Services Purchased on the World Wide Web. 

#9 New Tax.
Hundreds of Silly Tax Loopholes Must Be Identified and Eliminated. Some examples, no doubt dreamed up by industry lobbyists paying money to desperately poor politicians’ campaign funds and private PACs:
     • Yacht Deduction
     • 15 Days of Free Rental Income
     • Breast Augmentation Tax Deduction
     • Cat Food Deduction
     • Viva Las Vegas Tax Deduction
     • Home Office Deduction
     • 529 Plan Double Dip Loophole
     • Lifetime Learning Loophole
     • Personal Swimming Pool Deduction

     • Etcetera, etcetera and so forth.

#10 New Tax.

At Least $3 Trillion Should
Be Invested in Infrastructure. 
I remember April 2, 1980 when the Prime Rate (the lowest rate of interest at which money may be borrowed commercially) was a horrifying 20%. Today Prime is a low, low 3.25%. Money is cheap. It’s a great time to borrow.


What $1 Trillion in Infrastructure Will Buy 
According to The Boston Consulting Group one trillion dollars spent on infrastructure will result in the creation of “three million or more jobs over the next five years."
     Borrow $3 trillion. This means 9 million workers will be earning union wages, paying taxes, injecting a massive infusion of money into the economy and saving for retirement. By the time the infrastructure work is complete, America will take its place once again among First World countries:
     • 54,259 decrepit bridges will be safe to use.
     •100-year-old buried lead pipes would be replaced, meaning no more bursts and floods. No more “Flint Water”—all of which will cost billions to repair.
     • Interstates and local roads will be paved and safe.
     • Air and rail transportation will be modernized, efficient and safe.
     • Falling-down schools, hospitals and libraries will be refurbished and modernized.
     • The fragile power grids and Internet systems will be updated and safe from international hacking and the terror that would otherwise ensue.
     • The entire infrastructure system will eventually be paid off through tolls, bonds and taxes.

     • Every day Americans will savor the benefits of these improvements and wake up happy—many for the first time in their lives.

#11 New Tax.

America Spends Over $20 Billion Per Year on Fossil Fuel Subsidies.
  Abolish them.

#12 New Tax.
Kill Home Mortgage Interest Deductions Peggy and I are pensioners. We rent. Why should people with houses get to deduct their mortgages when we don't get to deduct any rent?

#13 New Tax.
Charge Tolls on the 48,181 Miles of Toll-free Interstate Highways.

#14 New Tax Cuts
Cut the Obscene Annual Budget That Funds the U.S. Government.
Budget Projections for FY 2020
Outlays        $4.7 Trillion
Revenues     $3.6 Trillion
Deficit          $1.1 Trillion

One example: Is the Military-Industrial Complex exempt and sacrosanct? Does the U.S. Navy really and truly need to spend $30 billion a year on 11 massive Nuclear Aircraft Carrier Task Forces roaming the seas carrying 80 jet fighters each?


Add These 5 Additional Items to the Financial Agenda
 #15.   
Legislate a National Minimum Wage of $15/hour with Regular COLAs.
This will help every Congressional District, raise incomes and bring in taxes.

#16.       
Pay $1000 a Month to Every American Over the Age of 18.
Look into presidential Candidate Andrew Yang’s Plan to Pay Every American Over eighteen years of age—regardless of income or employment status— $1,000 a month.
       With the avalanche of revenue coming into the federal government via taxes #1 - #14 above, the Yang plan is possible.
     Here’s why it makes sense:

#17.       
Universal Health Care Is a Right, Not a Privilege.
Every citizen must be guaranteed affordable health care, with pre-existing conditions.
     The Yang $1000 a month should enable every American family to get that nagging fear out of their lives as well as putting money back into the system.

#18.           
American Lives Are Ripped Apart by Financial Horrors.
With 30 million people thrown out of work in the Coronavirus calamity, millions of hard-working families suddenly had to rely on free food.
• 78% of Americans live paycheck-to-paycheck.
40% of Americans cannot handle a $400 surprise emergency.
    The Yang $1000 a month would get basic food on the table in the case of a sudden calamity.


#19.                  
 What Else Can Be Taxed?
All suggestions—no matter how outrĂ©—are welcome.



Takeaways to Consider 
• The federal budget was balanced just once in the past 50 years. In 2008 there was no deficit and a wee bit of the national debt was repaid.

• We fixed the system after WWII in the 1940s and 1950s.

• We did it in 2008—2009 after the Subprime Mortgage debacle.


• With 76.4 million taxpayers paying zero federal taxes and a 37% top U.S. federal income tax bracket, there is no way in heaven, here on earth or in Hades below the cataclysmic multi-trillion National Debt will be paid down—ever.

• Congress must be convinced raising taxes is the only way to bring in revenue to pay down the obscene National Debt.

• This is the great P.R. Challenge of our time—convincing the voters to convince Congress that raising taxes is a win-win deal.


• Donald Trump's boast that "We built the greatest economy in the world" rings very hollow when you visualize the National Debt of $24.9 Trillion as a stack of $100 bills 15,712 miles high.


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