Together Bush and his coalition would pass the biggest tax cut in the state's history, reform its tort-liability system and boost reading scores enough to give him bragging rights on a national scale.
The Ryan-Sununu approach would turn a deadweight, pay-as-you-go liability system into an enormous generator of capital that would significantly increase economic growth in the years ahead--and give participants far more in retirement payment and leave them a real nest egg of capital.
It recommends that policymakers consider "steps that would increase the exposure of software and system vendors and system operators to liability for system breaches" as an incentive to face up to security issues instead of ducking their costs.
Consolidating everything, the only interest cost associated with the outstanding ELA debts stem from the fact that the Central Bank incurred a large Intra-Eurosystem liability via the TARGET2 system when the IBRC depositors and bond investors were paid off and moved their money abroad.
FORBES: How Much Would Ireland Benefit from Replacing the Promissory Notes with a Long-Term Bond?
Finally, people with a wide range of political views can acknowledge that what has happened incrementally over the past half-century has led to a labyrinthine regulatory system, irrational liability law and a corrupt tax code.
"The once-lionized keiretsu system has become a liability, " says analyst Chris Redl at Morgan Stanley Dean Witter in Tokyo.
With an unfounded accrued liability in the billions, the system members, the retirees and survivors and the taxpayers of Louisiana may be keenly interested in learning if any underperformance of the funds can be attributed to conflicts and collusion.
FORBES: Louisiana Mandating Consultant/Manager Disclosure (April 2, 2005)
Attacking the unnecessary costs in our current system starts with implementing comprehensive medical liability reform, so when doctors are in exam rooms they are thinking about their patients, not about ordering more tests in case somebody tries to sue later.
The two factors most closely associated with higher liability costs are the number of lawyers and whether the country has a common-law system like the U.S., where judges decide much of the law governing liability or a civil law tradition, where the rules are set down in a relatively unchanging civil code.
FORBES: Study Pins Higher U.S. Liability Costs On Lawyers, Court System
Clearly, a two-rate system of 10% and 25% would be a radical departure from the seven-tier system we find ourselves stuck in today, and a major step towards a system where every American can quickly estimate their federal tax liability.
FORBES: Tax Aspects Of Paul Ryan's FY 2014 Republican Budget Proposal
Yet Washington leaves Social Security to forever be a pay-as-you-go system, spending all the tax money and keeping the Social Security liability 100% unfunded.
On the liability side of the balance sheet, to balance that, we create reserves in the banking system.
FORBES: Bernanke tells Jacksonville University students QE is not inflationary
The current US system has little slack because processes are extremely complex with huge fixed costs and unlimited liability.
应用推荐