Herman Cain: "How To End The Recession In 12 Months, In Case Anyone Is Interested"
The conservative Republican businessman writes: "Here are three suggestions that would get this country out of a recession in 12 months, not that the Democrats will listen or even consider any of these ideas. These are not original ideas. They are just great ideas from several sources that Congress and the president are ignoring because they would result in less government control. The reason that we would be out of the recession in 12 months is that businesses would get excited and start planning to grow their business instead of making plans to just survive. It’s just that simple. The prospect of bigger government and more taxes does not inspire businesses to grow. Here’s the solution.
Suspend the payroll tax for one year. This gives an immediate 7.65 percent increase in take home pay to all workers. It also lowers the payroll costs for all employers by 7.65 percent for one year. A total of about $900 billion would be injected directly into the economy immediately, rather than through the inefficiency of the federal government. The big-government types will say that it will hurt the already revenue-strained Social Security and Medicare systems. They are right. But it just means that we will have to solve those oncoming financial train wrecks one year earlier than currently projected. Facing these challenges with a healthy economy makes a whole lot more sense than trying to do it in the middle of a recession.
Suspend the federal tax on repatriated profits. Multi-national U.S. businesses are hungry for cash flow, which could come from cash they have sitting in foreign countries in order to avoid double taxation. The last time this was only partially done, in 2005 during the Bush administration, nearly $300 billion dollars came back to U.S. businesses from their overseas operations.
Replace the tax code with a consumption tax, popularly known as the Fair Tax. This would produce a huge sucking sound of businesses from around the world wanting to establish businesses here in the U.S. It would super-charge our economy like never before. The problem that the Democrats have with this proposal (H.R. 25)) is that it gives power back to the people. What a patriotic idea!"
Devone Tucker: "American Hustle"
The conservative Republican blogger opines: "Ask yourself: how many non-poor Americans are frugal in times of plenty? How many people saved when the getting was good? Americans wake up in the morning lusting for money, and go to bed at night dreaming of it. From a certain perspective, there’s nothing wrong with that. In this country, money = freedom: the freedom to live where you want to, the freedom to send your child to the best private school you can find, the freedom to promote your causes and interests. America may be, officially, the land of the free, but an American without money is, for all intents and purposes, an indentured servant. The rage that is building towards President Obama in certain sections of the country is based on color — the color green. Every day that the economy remains weak is a day that undermines the Obama administration. Americans elected him in part because they hoped that he would be able to steer the country through troubled economic waters. He has yet to deliver on this implied promise, and as a result, he is target of unusually intense opprobrium. Americans like results fast."
More commentary from Mr. Tucker about the economy: "Obama’s conservative critics have accused him of subtly trying to shift America from capitalism to socialism. Of course, for Obama to do that, he would have to shift the psychology of America itself — and as smart as he is, he’s not capable of doing that. No one person is. The American instinct is for more, more, more — the bigger house, the larger boat, the better car. We’re acting against our usual nature now due to the shaky economy, but once things stabilize, it is a money-in-the-bank guarantee that Americans will go right back to the way they always were. One of the uglier undercurrents on the right is the suggestion that Obama is not a real American, that he does not care about the 'heartland,' that he is some sort of foreign interloper. It’s a load of crap — Obama is your typical American progressive, acting the exact same way the late Minnesota Senator Paul Wellstone would have acted if he had become President. However, Obama will be restricted to one term if the electorate comes to the conclusion that his policies are preventing Americans from pursuing happiness in the manner to which they have become accustomed."
0 comments:
Post a Comment