Right now, America’s got more problems than a math book.
And in many of its chapters, economic woes line their pages.
If you’d started a business the day Jesus was born, and lost a million dollars every year, you’d still be in better financial shape than the American government.
Yes, the American economy is in trouble.
But, there’s good news.
America’s economic failings are largely policy failings. And policy failings can always be fixed. Liberal math has led to economic weakness. So, what needs to happen? What consensus-inspiring economic plan does America need to unite behind to avoid liberal math? Is it a deeply intricate plan, requiring countless hours of design by the world’s greatest economic minds?
No, it’s not.
Here’s a simple five-step plan for an American economic recovery:
Cut taxes. There should be a limit on tax liabilities. The Economic Recovery Tax Act (Kemp-Roth Bill) of 1981, championed by then President Ronald Reagan, dropped inflation, unemployment and interest rates massively. Enough said.
Cut red and green tape, and deregulate. Excessive red tape detracts from productivity, creates uncertainty, saps confidence, stifles job creation and lowers the standard of living of all Americans. Reducing the burden of regulation will make the American economy more competitive and provide greater incentives for job creation and real wage growth. Businesses, entrepreneurs and workers will all be better off.
Stop spending so much money. The EU spends money like it grows on trees. So does America. Liberal governments all over the world understand that if you rob Peter to pay Paul, Paul’s always going to vote for you. Until everyone runs out of money. Debt is weight around your ankles. James Madison wasn’t joking when he said: “I go on the principle that a public debt is a public curse.” Say no to deficit spending. The sailor needs to sober up and right the ship.
Exploit energy resources. The solutions to your problems are right under your feet. Untapped oil reserves, natural gas and shale oil. Just as cars run on energy, world affairs run on energy policy. And much of the instability in the Middle East boils down to America’s oil dependency on foreign oil. The Left think the answer is windmills and solar panels. Unsurprisingly, green technologies and liberal arithmetic are happily married.
Repatriate the almost 3 trillion dollars held by American corporations overseas, by waiving the 35% tax rate, and getting that money back into the economy with those corporations hiring workers and purchasing equipment. Giving small businesses and corporations their own money with the incentive to create jobs is the best way to strengthen the economy and create jobs. They’ll do a far better job than the government.
Those five things will stimulate the economy; shaft China, boomerang the economy to Reagan-era growth- and the best thing is: you won’t have to use tax dollars.
If you like your economy, you can keep your economy.
But I sure preferred Reagan’s.
Nick Adams is an Australian best-selling author, speaker and political commentator. He is best known for his work in the field of American exceptionalism, and is credited with a resurgence in the idea worldwide. He is a regular on Fox News, C-SPAN and nationally-syndicated radio. Adams has received several state awards, being appointed an Honorary Texan by Governor Rick Perry in 2013. He is the author of the book: The American Boomerang (2014). He can be reached on Twitter @NickAdamsinUSA. His website is www.nickadamsinamerica.com.