GOP and Democratic economic fixes do not impress me at this juncture. Why? They are about slowing the leak not fixing the hole. Anyone who understand how to solve the economic woes of the USA are nit picked and labeled as fringe. Even respected economists debate in their ivory towers while the ship is still going down. What would I do?
What would help the US economy:
Eliminate the income tax – This could be replaced with something else besides direct taxation, which is constitutionally questionable and a complex way to penalize the productive. Even a country like Slovakia has a better tax system with a simple, do it on the back on an envelope flat tax. Why is the USA so great? – Spending cuts and taxes
- Balanced Budget amendment – This alone would not to anything other than make government responsible and people would feel the pain of expansion. It would eventually free up fund that are siphoned off by the government that squash free market initiative and innovation (crowding out effect). – Balance the budget
- Eliminate the Federal reserve – Replace it with either a gold standard or free money – This would decrease monetary shocks and the government’s micro managing of you. The economy by its nature is not something you should micro manage. The economy is me and you, not some engine that starts and stops.The Federal reserve is dangerous. – Abolish the Fed
- Stop being the police officer of the world – Bring the troops back home – Strengthen US defenses by shifting focus on high-tech and not WWII type military tanks and submarines and ground troops. Focus on home defense. We will be paying for these wars for the rest or our lives via government benefits. I know it is not politically correct and I come from a family of veterans (who were drafted) but war is an a waste of fertile productive young minds. These brave people could have developed great things with their youthful minds. Instead they were sitting in a desert. What a waste. We create enemies to fight. What will we do about Pakistan now? Will there not be terror units formed there? Focus on home defense. – Military is a waste
- Let the markets work – Zero tolerance for bailouts, pork or government waste. Cut regulation and market distortions that lead to high prices. – Free market
- The government is not your mommy and daddy – People need to stop seeing government this way. People do and it takes money from the poor and those who need to be helped. It takes money not from the rich, who will be rich but the poor. I know it seems to be untrue but thing about East Germany compared to West German. Which was richer? Anything the government does free market does more efficiently. Just live in a communist or post socialistic country for a while and you will see what I mean. Look at UPS Vs. USPS. – Health care insurance solved
These ideas seem radical but they are not. They are simply bringing the US back to respecting the constitution and how the USA was for a good part of its history to one degree or another. What will it take? I do not know. I do not think American is doomed. However, I do not see we have any way out of this either. It seems like we will have bigger and bigger government that will not be solved by slowing and I repeat slowing the leak.