SEVERUSMAX
Benevolent Master
- Joined
- Apr 1, 2004
- Posts
- 28,995
Since DC is stymied, President Obama is playing demagogue, Harry Reid is blocking his own President's jobs bill, and the jobless rate has grown yet again, let's consider some practical steps that, hopefully, can meet bi-partisan support and unleash the private sector. I have my doubts about bi-partisanship here, but right now, we need immediate solutions that make common sense.
1. Repatriate the overseas profits, at a corporate tax rate that can be haggled downward between the Right, Center, and Left.
2. Let Boeing expand, on a 2 to 1 basis, two non-union factories for every union factory that it builds. The non-union plants will help offset the high overhead of the union factories. Let other companies do the same thing.
3. Lower the corporate rate to a mutually acceptable, but still much lower rate, while eliminating all subsidies and loopholes in the tax code.
4. Ratify free-trade agreements with key members of the EU, which will give them more options, in preparation for the likely collapse of the EU. Great Britain, Ireland, Germany, Italy, and many of the former Soviet Bloc nations could be helpful, just for example. I doubt that the French, of course, will go for it, given their protectionist leanings. Ratify a free-trade agreement with India that improves our access to the Indian market and improves our relationship with that large and populous republic. We need to accept that India is thankfully no longer the Indira Gandhi-style socialist, anti-American state that it used to be. Ratify a free-trade agreement with Taiwan.
5. Negotiate in a tough, but fair and respectful manner the differences with China, from debt to trade deficit to intellectual property to the currency. Don't surrender, but don't walk away. Keep talking until there is a breakthrough. Stand firm, but keep haggling.
6. Negotiate a free-trade agreement with Russia. They could be a missing trade partner that we haven't really considered, under the circumstances.
7. Repeal Helms-Burton and end the damn embargo against Cuba. It's time. We can work on a compensation deal for the companies that lost property, of course, but free-trade with Cuba would allow us to benefit from revenue, access to the Cuban market (as it is sluggishly beginning to emerge), and the opportunity to accelerate the pace of market reforms in that country. Think of the missing revenue from import duties on Havana cigars.
8. End the war on drugs. We can balance the budget tomorrow, if we don't have to imprison 2 million people under mandatory minimum sentences for non-violent offenses related to drugs. Legalize, decriminalize, commute sentences, and grant sweeping amnesty to those who have committed no violent offenses in the process of their drug trafficking. Impose a federal excise tax on marijuana at a level high enough to raise revenue, but too low to discourage consumption. It could also reduce the cost of prescription drugs, as the demand for them would drop.
9. Allow the Canadian pipeline, which under NAFTA, we should be allowing anyway. These Canadians want to employ some 20,000 American workers. That would be a major boom. Offset the environmental issues by offering a 3-year tax holiday for cleaner energy firms from both countries.
10. Require that all executive regulations currently in place be reviewed by Congress and voted up or down. That alone will test the real merit of the regulations. Checks and balances exist for a reason.
11. Cut the gas tax by half.
12. Slash the capital-gains tax by two-thirds, which will help small businesses in this country and have a disproportionate benefit for women, who often make up a large part of the small business, entrepreneurial sector.
13. Cut the inheritance tax by 40% this year, with 40% the following year.
14. Freeze federal regulatory hiring, which will both reduce the regulatory burden on the economy, while also helping to balance the budget.
15. Borrowing a page from Geraldo's platform, I favor rebuilding the interstate highways as toll roads, thus paying for themselves. Let workers in those jobs decide for themselves whether or not to unionize. Some will, some won't.
16. Bring more troops home and thus allow reservists to return to their often better-paying jobs, thus reducing a burden on our brave men and women of the armed forces.
17. Bloc grants to return revenue to states, thus making it easier for them to meet their budgets. Since the federal government often imposes mandates and liabilities on the states, some compensation would be nice.
18. Suspend Obamacare, at least until the Supreme Court makes its ruling on the issue. Or else grant waivers to the 26 states currently suing over it, waivers which will cover the entire bill. Then we will really see which system works better.
19. Set up enterprise zones in DC and other impoverished, decimated areas of the country.
20. Abolish the Bureau of Indian Affairs, ending the colonial system of racist supervision of the reservations and allowing them to become far more autonomous. If they can make their own laws, many might opt for encouraging more investment capital and growth. We could thus help dramatically reduce the poverty there.
21. Admit Puerto Rico to the Union as a state, thus adding more revenue to the federal budget and reducing the deficit considerably.
22. Ease the admission process for student visas, tourist visas, and even green cards. Enforce immigration laws, yes, but also improve them.
Now, obviously, there is a decent chance that some of the numbers may have to be haggled over and the details ironed out, and not all of it would meet universal approval, but there are some concrete ideas for economic stimulus that would have at least some practical value and a starting point for serious discussion. I am also listening for alternative proposals, though just as not all of mine will appeal to everyone, some of those might not appeal to me. At least I'll be able to see them.
Like the President, I am willing to accept a piecemeal approach to this economic plan, making what progress can be made now, while doing the rest later. Even a few of these points by themselves will improve our economic outlook.
1. Repatriate the overseas profits, at a corporate tax rate that can be haggled downward between the Right, Center, and Left.
2. Let Boeing expand, on a 2 to 1 basis, two non-union factories for every union factory that it builds. The non-union plants will help offset the high overhead of the union factories. Let other companies do the same thing.
3. Lower the corporate rate to a mutually acceptable, but still much lower rate, while eliminating all subsidies and loopholes in the tax code.
4. Ratify free-trade agreements with key members of the EU, which will give them more options, in preparation for the likely collapse of the EU. Great Britain, Ireland, Germany, Italy, and many of the former Soviet Bloc nations could be helpful, just for example. I doubt that the French, of course, will go for it, given their protectionist leanings. Ratify a free-trade agreement with India that improves our access to the Indian market and improves our relationship with that large and populous republic. We need to accept that India is thankfully no longer the Indira Gandhi-style socialist, anti-American state that it used to be. Ratify a free-trade agreement with Taiwan.
5. Negotiate in a tough, but fair and respectful manner the differences with China, from debt to trade deficit to intellectual property to the currency. Don't surrender, but don't walk away. Keep talking until there is a breakthrough. Stand firm, but keep haggling.
6. Negotiate a free-trade agreement with Russia. They could be a missing trade partner that we haven't really considered, under the circumstances.
7. Repeal Helms-Burton and end the damn embargo against Cuba. It's time. We can work on a compensation deal for the companies that lost property, of course, but free-trade with Cuba would allow us to benefit from revenue, access to the Cuban market (as it is sluggishly beginning to emerge), and the opportunity to accelerate the pace of market reforms in that country. Think of the missing revenue from import duties on Havana cigars.
8. End the war on drugs. We can balance the budget tomorrow, if we don't have to imprison 2 million people under mandatory minimum sentences for non-violent offenses related to drugs. Legalize, decriminalize, commute sentences, and grant sweeping amnesty to those who have committed no violent offenses in the process of their drug trafficking. Impose a federal excise tax on marijuana at a level high enough to raise revenue, but too low to discourage consumption. It could also reduce the cost of prescription drugs, as the demand for them would drop.
9. Allow the Canadian pipeline, which under NAFTA, we should be allowing anyway. These Canadians want to employ some 20,000 American workers. That would be a major boom. Offset the environmental issues by offering a 3-year tax holiday for cleaner energy firms from both countries.
10. Require that all executive regulations currently in place be reviewed by Congress and voted up or down. That alone will test the real merit of the regulations. Checks and balances exist for a reason.
11. Cut the gas tax by half.
12. Slash the capital-gains tax by two-thirds, which will help small businesses in this country and have a disproportionate benefit for women, who often make up a large part of the small business, entrepreneurial sector.
13. Cut the inheritance tax by 40% this year, with 40% the following year.
14. Freeze federal regulatory hiring, which will both reduce the regulatory burden on the economy, while also helping to balance the budget.
15. Borrowing a page from Geraldo's platform, I favor rebuilding the interstate highways as toll roads, thus paying for themselves. Let workers in those jobs decide for themselves whether or not to unionize. Some will, some won't.
16. Bring more troops home and thus allow reservists to return to their often better-paying jobs, thus reducing a burden on our brave men and women of the armed forces.
17. Bloc grants to return revenue to states, thus making it easier for them to meet their budgets. Since the federal government often imposes mandates and liabilities on the states, some compensation would be nice.
18. Suspend Obamacare, at least until the Supreme Court makes its ruling on the issue. Or else grant waivers to the 26 states currently suing over it, waivers which will cover the entire bill. Then we will really see which system works better.
19. Set up enterprise zones in DC and other impoverished, decimated areas of the country.
20. Abolish the Bureau of Indian Affairs, ending the colonial system of racist supervision of the reservations and allowing them to become far more autonomous. If they can make their own laws, many might opt for encouraging more investment capital and growth. We could thus help dramatically reduce the poverty there.
21. Admit Puerto Rico to the Union as a state, thus adding more revenue to the federal budget and reducing the deficit considerably.
22. Ease the admission process for student visas, tourist visas, and even green cards. Enforce immigration laws, yes, but also improve them.
Now, obviously, there is a decent chance that some of the numbers may have to be haggled over and the details ironed out, and not all of it would meet universal approval, but there are some concrete ideas for economic stimulus that would have at least some practical value and a starting point for serious discussion. I am also listening for alternative proposals, though just as not all of mine will appeal to everyone, some of those might not appeal to me. At least I'll be able to see them.
Like the President, I am willing to accept a piecemeal approach to this economic plan, making what progress can be made now, while doing the rest later. Even a few of these points by themselves will improve our economic outlook.
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