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The problem with economics is that it is somewhat complex.
Talking about the economy without seeing a flow chart is somewhat like trying to explain the circulatory system within
each of us without a diagram.
In any event, this is our own analysis of the situation and the solutions needed
to remedy the situation. First, let us list the course corrections needed and
then delve into the problems themselves.
1]Balance the federal budget in order to restore confidence in dollar.
2]Reduce taxes
on all those making less than 100K/yr to zilch, zero, nada.
3]Raise taxes on the wealthiest 1% of Americans to whatever is needed to balance the budget.
[The tax shouldn’t be bracketed according to annual “income”, but rather net worth.]
4] Ensure anyone facing a foreclosure over the past and the next few years, due to the predatory lending practices which created
the housing bubble in the first place, does not lose their home. To quote one of our three favorite economists
“The bailout money, instead of being given to
favored financial institutions to finance their acquisition of other institutions, should be used to refinance the defaulting
mortgages. This would slow, if not stop, the growing inventory of foreclosed properties that is driving down home prices.” -Paul Craig Roberts, Reagan’s Assistant Secretary of the Treasury
5]Any stimulus within a balanced budget should be aimed at bridges and other essential infrastructure remedies needed.
There’s only problem
with having these solutions made policy course corrections. Our leaders
aren’t the sharpest tools in the shed. America, neither the Republicans
nor Democrats are worth the salt in their blood. There is a hard fact many of you do
not want to accept; both parties, as well as the media, are owned and operated by essentially the wealthiest families in this
country. Five men own and operate for the most part 90%+
of all the information outlets in this nation.
This nation's problem is that all too many of you have been too trusting. “Eternal vigilence is the price of liberty.”, a wise man once said and it’s sad to think
of how few of you know whom that quote comes from.
You have not been vigilant.
You have trusted the people who own and operate the show behind the scenes.
We’ve had a stimulus package the last 8 years. Bush hit the accelerator and so did Greenspan. We should
have had ???% growth with stimulus they gave us ......., unfortunately most of the money went to the SCUM who control Bush
and Congress' strings.
Unfortunately, at the same time, the
economy does need some sort of “stimulus” to keep demand propped up and insure the economy does not implode.
These two needs are regrettably seemingly
in contradiction to one another.
As we see it, the first policy course correction would be to remove all of those making less than 100,000/year off the income
tax rolls. This is for the most part everyone.
This insures that those who need money the most will have the maximum amount they need.
At the same time we would recommend raising the income tax on the wealthiest one percent of Americans to whatever it takes
to balance the budget. The wealthiest one percent of Americans own over 42% of
this nations’ wealth. To be in this bracket one needs to have a net worth
of over 3.7 million. On average these individuals have over 10 million in assets. Seeing
as how the deficits of the last eight years were created for the most part because of Bush’s tax cuts to these people,
“his base”, the budget should be balanced on their bank accounts.
The problem with this “Robin
Hood” tax plan is that simply talking about it shortens ones lifespan. No kidding. Yet, it is the sanest way to save what is left of this nation’s economy.
In order to cut some of the
nation’s expenses, we should perhaps follow the advice of Ron Paul and Ralph Nader and return to the foreign policy
of the founders. If we were to bring home all troops worldwide, expenses
would be cut ____ billion/year. If the wealthiest one percent wish to have a
worldwie empire …. they can pay for it.
ASIDE: I read the columns of three economists regularly to keep abreast of economic reality. They
are Dean Baker, Paul Craig Roberts and Mike Whitney. I would suggest you begin reading their work
if you have any interest in the economy. I simply do not have the time to be the kind of “number
crunchers” these individuals are.
All three of them were against
the bailout which occurred last year since it is essentially socialism for the wealthiest individuals of society and at the
same time rewards those who created the disaster in the first place.
Unfortunately, even though all three saw the coming economic disaster unfolding thanks to Greenspan's and Bush’s
braindead and inept policies, they are not in complete agreement with one another as to the prognosis of our nation’s
economic problems at this point in spacetime. I would hope they would have
a debate with one another and come to an agreement on what is to be done.
