I got this great plan for my economy that generated a huge amount of capital and balanced the budget in no time!
My strategy for the taxes is that Income taxes are evil and Consumption taxes are fair and good to stimulate the economy. I just eliminate Income Tax completely and tinker with the Sales taxes at a moderate rate to make up for the loss. This also boosts Domestic Approval ratings too.
Also I get rid of Pension and Unemployment Services to increase the tax cuts to the people since the citizens should know best how to invest their own money rather than pay higher taxes for welfare or be forced to contribute Social Security that gives them pennies when they retire. I generally encourage the consumers keeping as much of their money as possible and pay as little as possible to the government to protect the economy's health and stimulate spending levels. This has a net effect in strengthening GDP growth and decreasing inflation.
I'm still working on the Health plan trying to privatize healthcare and completely eliminate the inefficient and bloated State funded garbage health plans but I haven't yet managed to get the formula right.
And for additional income I max out the Immigration Fee (I forgot the exact number think it was about $50,000) and limit the immigration to Healthy, Skilled, Educated, and Wealthy immigrants only. I ban refugees unless they meet these immigration criteria as well. I also only allow political dissidents, criminals, and unskilled labor to emigrate out of the country (who needs trash like that?).
As for the Bonds I'm really too lazy to do a thorough analysis of the markets is there an easier way to make profits with those? My first goal is to control inflation and eliminate foreign debt not increase it.
And finally trading I initially generate a hugh amount of cash by selling off all the outdated military crap in the Active forces and Reserves and pulling the DefCon all the way to Peace as I build up. I reconstruct the military with only the most modernized forces and I've been paying for it by trading some goods and arms with neighbors but it hasn't been easy to figure out how to do it efficiently. But overall I think I figured out an excellent economic model. Can anyone suggest any improvements I need on this?
Great economic plan that works
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You can check through the detailed list of facilities for inefficient factories. If you have a large surplus of something, and are not making money by exporting it, you can shut down the lower ranked facilities. Be careful of creating an unemployment problem with major shut downs. Also, some facilities will be upgradeable. Commodities with shortages, and profitable exports are prime targets for upgrading the levels on facilities.
(right click on a facility and then on "details"... )
-Light
(right click on a facility and then on "details"... )
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"Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.” -Winston Churchill