I'm on Twitter! More Must Reads

    follow me on Twitter

    Friday, December 5, 2008

    Fixing the Economy - My Plan

    Just caught a little glimpse from CNN of Obama's jobs plan. Looks a lot like typical Liberal fare. Infrastructure projects, a tax credit of some kind. Roads and bridges are good, and a necessary function of government, but, let's be serious here.

    Unless we're willing to really endure some corrections - like lots of foreclosures, and the bankruptcy of the automobile (and associated) industries, in order to lower costs structures and make these businesses competitive - we need some drastic, supply-side work done.

    If Obama really wants to jump start things - let's go with my plan:
    1. A serious and drastic cap gains tax reduction - if not 0%, how about a reduction to 5% or 7.5%. That would get some capital spending started immediately.
    2. A serious income tax reduction, not tinkering, like Obama wants to do with no changes on "the rich," but a real reduction, on the order of 30-50% on ALL taxpayers, especially those rich investors.
    3. Privatize at least a portion of social security. Get these obligations off the government's books, and get this capital into the market, where it can help spur investment.
    4. While I dont' want the automakers to fold, I do want them to restructure. Work something out that is a pseudo-Chapter 11 for them. Get real concessions from the unions who hamstring them, and get rid of their rotten management.
    5. Quickly devise a plan to get the government out of the financial industry.
    6. Repeal rotten laws like Sarbanes Oxley.
    7. Get rid of CAFE standards and some of the other mandated standards the automakers and other industries must deal with.

    The path forward needs less government, and more capitalism, not the opposite. If we continue on the tack we are on, we will wind up with 2 years of recession and a weak growth cycle.

    Drastic times call for drastic measures. Let's have some.


    reddog said...

    The problem with you guys is you always want to cut taxes and never spending. The government is the biggest employer in the country. Gov employees get generous pay, benefits and retirement. Nobody else but auto workers and railroad employees get that kind of deal.

    I've got no cushy benefits or retirement coming. Fire those government employees. Start with the military. Officers first. If we're going to fight somebody and a nineteen year old high school grad can't be trained to do it we're fighting wrong.

    Prioritize health care. We expend 90% of healthcare on people who won't live 6 more weeks. Better to spend that money on preventative care for the young, who might one day contribute. Do not subsidize retards, women are told they will have a retard baby, they have it anyway, then expect the government to foot the bill for its care. I call bullshit. Quit spending so much money on criminal justice and prisons. Most people can easily be seen to be guilty or not. Run them through the system quick and let the rest go. If they are bad, they will be back soon enough. Prisons cost too much. Let prisoners work on road gangs and sleep in shacks.

    Nobody should have to starve. If people are not making it, they can turn themselves in and be sent where there are jobs or they can be trained. If they can't raise their children, let the government do it.

    Mostly though, we have to start producing things we can sell. Unless we maintain a profitable economy, it won't work.

    Jay said...


    "You guys?"

    Your post is a joke, right?

    Anonymous said...

    Hi !.
    You may , probably curious to know how one can make real money .
    There is no need to invest much at first. You may commense to get income with as small sum of money as 20-100 dollars.

    AimTrust is what you need
    The company represents an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

    It is based in Panama with affiliates around the world.
    Do you want to become an affluent person?
    That`s your choice That`s what you really need!

    I`m happy and lucky, I started to take up income with the help of this company,
    and I invite you to do the same. It`s all about how to select a correct companion utilizes your money in a right way - that`s it!.
    I make 2G daily, and my first investment was 500 dollars only!
    It`s easy to join , just click this link http://ubogenygu.maddsites.com/ydygufa.html
    and go! Let`s take this option together to feel the smell of real money