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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.
William Frederick Binder
Virginia Beach, USoA,
2009, February, the 17th of...,
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