Reading the title, one may think that I am just another Reagan wannabe who wants to hypothesize his own Reaganomics and put it forth. But don’t be mislead by the title; the economic reforms that I talk of are the ones almost every American wants.

Healthcare

As many would have guesses, this is the first reform that I want. The US healthcare system is too complex and puts a lot of power in the hands of the insurance companies. Also the cost of healthcare is high in this country than any other. Hence the government needs to not only tame the insurance companies but also needs to work towards bring down the cost of healthcare.

Supervising Financial Institutions

It is human tendency to try and find someone to blame for an incident or occurrence in part to let our frustration out. Hence, when the Financial Crisis Inquiry Commission stated in its report that the whole fiasco could be avoided, the very next question I would ask is that who was to be blamed for it. Surely the government would not have an answer for my questions and therein lies the problem. The government, especially after infusing trillions of tax payer dollars into the financial institutions, needs to keep a close watch on them. We surely don’t want the likes of the dot com bubble, Enron or worse, the recession all over again.
Better and simplified taxation

Even though I have blogged about it already, I cannot stress the point enough that we need a better and simplified tax code. What’s the use of a tax code that even the congress is not aware of fully or where the IRS itself doesn’t know how many pages of code is there? What’s the use of me being a ‘tax-abiding’ citizen when I still have nightmares of the IRS knocking on my door due to non-proper filing of taxes (due to complexities in doing so).
These are just the top economic reforms that I want in the system. If these are worked out properly the smaller ones will gradually work themselves out albeit sometimes with a little push.