2. Thanks to generations of government education most Americans don’t realize that corporations and businesses don’t pay taxes. They collect taxes from customers, employees and shareholders and merely pass them on to the federal government. All wealth in this country is held by individuals, and all taxes are paid by individuals. So let’s get smart and reduce business income taxes immediately --- especially corporate income taxes. To do otherwise is to operate on the belief that the federal government would do a better job of spending this money (shrimp on treadmills?) than would the people who actually did the work and earned it.
3. We’re currently wasting around $100 billion a year on the Department of Education. There has not even been a hint of an improvement in government schools since this useless support system for teacher’s unions was created. Abolish the Education Department and send that $100 billion to the states with the mandate that it be used specifically for education programs to prepare young adults for employment upon graduation from high school and not for college prep. We have far too many English, social studies, LGBT and history majors running around now whose workdays consist of endless repetitions of the phrase “would you like French fries with that?
4. End the hideously expensive war on drugs. At the state and federal level we are spending over $1,700 per second in drug war costs. There’s over $15 billion a year to be saved here. Studies have shown that treatment is a more effective means of reducing drug usage than criminalization and incarceration. Bonus: We reduce crime and make our streets safer.
5. Repeal Davis-Bacon. Allow governments to pay prevailing private sector wages, not inflated union wages, on public works projects. The tax money set aside for these projects would go a lot further, more people would be hired, and the more work could be done.
6. Repeal ObamaCare and the Chris-Dodd consumer finance reform act. Both of these hideous pieces of legislation have been shown to be jobs killers. There is no right to health care, and caveat emptor should still mean something.
7. Immediately halt all regulatory rule-making processes at the federal level. We have enough regulations now to get the job done. More than enough. Businessmen aren’t hiring or expanding because they don’t know what the rules are going to be. Would you obligate yourself for a mortgage if the lender told you they would just fill in the terms later? Yeah … some of you probably would; especially Obama voters.
8. Eliminate capital gains taxes. Too many of us are sitting on investments that have pretty much maxed out, but we won’t cash out because we don’t want to pay the tax. Eliminating these taxes would allow a free flow of investment capital that would enable countless new business startups … and that means new jobs.
9. Make every state a right-to-work state. Completely outlaw compulsory unionism. Nobody should ever have to join a union in order to work. 10. Repeal Sarbanes-Oxley. It’s another jobs killer and inhibits corporate growth and profitability. Google it.
11. Institute loser pays at the federal level and urge states to do the same. This means that if you file a lawsuit against someone and you win, good for you. If you lose, you pay the other side’s legal fees. I used to be a member of the American Trial Lawyer’s Association, (now called The American Association for Justice --- bwahahahahah), and I can tell you that many trial lawyers look at filing a lawsuit as comparable to buying a lottery ticket. Not much to lose, but a lot to gain. Put some risk into this equation.
12. Eliminate most business and professional licensing requirements. Why should you need the state’s permission to braid hair or to match pillows with drapes? And while we’re at it find that loon in Florida who said that ending the licensing of interior designers would cost 80,000 lives a year and put her in a glass cube in the Museum of Idiocy. If there isn’t such a museum, start one. It will have to be a huge facility.
13. Send a balanced budget amendment to the states. Most states have to operate under just such a restriction, and they’ll be more than happy to see to it that the federal government does as well.
14. Last – but certainly not least – set a date certain for the expiration of our current tax code. That will force congress to come up with a better plan. I happen to have some ideas along those lines as well.
More ideas? Of course I have more ideas. But they won’t give me any more room here. Stay tuned.