Well now! That was quite a ride last week for the American economy, don’t you think? We raised the debt ceiling and within 36 hours America’s debt exceeded our GDP. Then there was the stock market … yeah, that very same stock market that Chairman Obama told us had “come roaring back” in his last State of the Union message. All of those roaring gains for the year were erased in one day.
We then top off the week with a Standard & Poor’s downgrade of America’s credit rating – the first downgrade EVER! Well howdy! Now there’s some change you can believe in. A change for the worse … but then it’s been a constant change for the worse since the dumb masses put this unqualified (but clean looking and eloquent) man into the presidency.
Would you hire someone who hates to cook to be the executive chef at a fine restaurant? Why not? We were mindless enough to hire someone who detests capitalism and free enterprise to oversee our economy, why not hire someone who hates to cook to run our kitchen? And now we profess to be surprised at how things turned out?
OK .. I hear you. “All you ever do is complain, Boortz. What great ideas do YOU have to get our economy going again?” Well, as a matter of fact, I’m glad you asked … I do have some ideas. I’m going to help turn things around right here. And to make things more difficult, I’m going to do this without cutting spending or raising taxes … and I’ll do it backwards and in high heels.
Ready? Here we go; step-by-step.
1. Do you have any idea how much one trillion is? The average human life span is around 2.8 billion seconds. If someone was just now approaching their one trillionth second of life they would have been born in 29,000 BC. NOW do you have a grip on a trillion? Good --- because first we need to address the trillions of dollars of American-owned wealth that are legally resting in overseas accounts where they are safe from American confiscatory taxation. Declare a tax amnesty. Allow that money to come home to work in our economy without taxing it. Can you imagine what a few trillion dollars pumped into the private sector and not into political vote-buying schemes might do for our economy?
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.
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.
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.