Everyone loves the movie Back to the Future. Marty McFly (Michael J. Fox) mistakenly launches Doc Brown’s DeLorean time machine car back to November 1955 and finds himself a peer of his high school parents. Thanks to Marty’s interactions with them, he sets in motion an alternate future for his entire family. When he returns to 1985, he discovers they are no longer a struggling, lower middle-income family, but an affluent, BMW sporting, upper middle-class one. Could we have a similar opportunity to bring about an alternate future for America?
The key to unlocking the McFlys' new future (really past) was Marty convincing his reluctant father, George, in 1955 to stand up for himself and try new things like asking out Marty’s future mom Loraine. His father takes his advice to heart and when the high school bully Biff Tannen tries to get fresh with Loraine, fearful George McFly rises up and knocks him out. Loraine swoons, and the rest is future history. George ends up a successful businessman in the alternate 1985, with Biff in his employ.
Unfortunately, we do not have a DeLorean that can take us back in time and create a new present reality, but what we do have is an opportunity to knock the current Administration out and create a new future. However, Americans must be convinced there is a better path FORWARD.
First they need to know if Barack Obama and the Democrats in the Senate stay in power, the trillion dollar plus deficits will continue because the President has no realistic plan to address the problem. The interest alone on the national debt is soaring. It was $227 billion last year making it the fastest growing item in federal spending . And since nearly forty cents of every dollar spent by the federal government is currently borrowed money, we are literally borrowing money to pay interest on borrowed money. That is far too Greek.
Next people need to know that President Obama wants to raise taxes on job creators when the Bush tax cuts expire. This will, according to a recently released study by Ernst and Young cost over 700,000 jobs and significantly slow economic growth. The combination of the end of the Bush tax cuts and Obamacare’s tax provisions taking effect in 2013 will cause the capital gains rate to increase to 24.7 percent and the dividend income rate to 44.7 percent.