…in my opinion! I’d like to quote something from a fellow commie on Facebook this morning. Think of the American political process as an automobile transmission. “D” is for drive, move forward, also Democrat. “R” is for reverse, move backward, also republican!
As America moves closer and closer to total political gridlock, third world status, and just a dysfunctional entity, it’s time to analyze the situation and promote ideas that will help the country as a whole, not just select groups.
Two items that must be acted on immediately are the raising of the debt limit and reaching a budget compromise that will include SOME cuts and SOME revenue generators. This is THE only way a budget can be done.
The most daunting and threatening problem facing the country today is the ever-widening gap between the classes of population. As the top 3% of the population gathers, controls, and banks over 70% of the wealth and savings in the country, the middle class is shrinking considerably and they are going down, not up. The number of people living below the poverty line is increasing lightning fast. This is the recipe for a nation on the verge of implosion. Think this over, when was the last time in human history a rich ruling class in a tiny minority was able to maintain that status quo for any length of time. This country is going to come apart at the seams if this problem is not addressed soon.
The ruling class, the republicans, fueled by billions of dollars from the Koch brothers and the U.S. Chamber of Commerce, keep maneuvering for yet more wealth to flow to the top 3%. The republicans are demonizing the wrong people and group in this unbalanced equation. They are making their followers believe the working class, both in the middle and the working poor, are responsible for the economic mess the country is in. The SCOTUS ruling on “Citizens United” has only strengthened the position of the wealthiest people in the country. The right-wing now simply buys politicians and influence in Washington to work legislation in their direction. Simple and easy. But look at the toll it’s taken on our country and the economy. The right sees no wrong with this ongoing grab and redistribution of wealth to those that are already mega-rich. What is lacking in the performance since 2000 by the right-wing and republican party is morals and ethics. They simply don’t care about anyone making less than 100,000 dollars a year!
So, let’s fix it! The tax codes have to be scrapped and we need to start all over again. Tax law one is a progressive tax rate that rise with income level. Now, before you scream about this, the rates ultimately will be lower because a new tax code will eliminate all loop holes and unwarranted deductions. Corporate tax rates will also be based on a scale via-a-vis income levels. Corporate taxes will be lower than today because all loop holes and invented deductions will be eliminated. Any income earned by U.S. business in foreign countries will taxed. U.S. based companies will be barred from setting up phony business headquarters in other countries to avoid paying tax. Businesses caught doing this practice will be severely punished and fined. Anybody or any company found to be hiding income in foreign financial institutions will also be severely punished and fined. Conversely, to make it a more level playing field in a global economy, any country putting up barriers to trade for U.S. made products will face the same if not more stringent barriers to them exporting product to the U.S. One thing that sorely needs to be fixed is the granting of tax cuts to businesses in the guise of needing more working capital to expand and hire more people. Tax cuts have proven, time and again, DO NOT juice the economy or business growth. It is also proven that when the wealthiest people and businesses get tax cuts, that money goes directly to the business bottom line as profit, and is rarely used to grow the business. Right now in America, businesses are banking over one trillion dollars! This money is not being spent to grow or add to the payrolls. U.S. banks are holding 1.3 trillions dollars by not making loans to business. These are two areas that have stalled the economy. How to correct this, eliminate tax cuts! They don’t work, it’s more free money for the people who don’t need more money! Change granting tax cuts to tax credits based on performance. In other words, don’t just give entities or people free and unaccounted for money, make them spend money to grow and expand, then award tax credits depending on the scope of the their growth process. If they actually spend money to start, expand, and hire more people for the business, then they get rewarded, but not until the have performed what they said they would do! Everyone benefits!
Obviously making these changes in the tax system will make a huge difference in the rate we can pay down the debt. With more revenues flowing in, the deficit can be addressed.
Spending cuts: start at the biggest waster of money in the budget, the Pentagon. I am convinced there is at least 100 billion dollars a years wasted in the Pentagon through, waste, fraud, no compete contracts, etc. Congress’ blank check to the Pentagon has to come to an end. How much does the U.S. spend per year maintaining way too many bases around the world. Do we really need these? We are no longer living in the “cold war” years. Conflict has taken a different turn. It no longer can be dealt with by sheer numbers of troops and armament. It now should be addressed by technology, special forces, drones, etc. That is why terrorist entities really don’t fear the U.S. any longer. We simply try to fight it the old-fashioned way, troops and bombs. Very expensive and very inefficient. Remember also, President Bush gave us two UNFUNDED wars in Iraq and Afghanistan. These will take decades to pay off. Bottom line, what did the U.S. gain in these wars? NOTHING, except debt and needless fatalities. President Obama, it’s time for you to grow some balls and face down the generals and the old folks like Grampy McSane(R-AZ) and bring the troops home. That two billion dollars a month we are sinking in the quagmire in Afghanistan can be used at home for infrastructure improvements.
The only way to fix MediCare is to fix big medicine and big pharma first. Sorry republicans, but the only way to do this is tighter regulation on these industries. Right now medicine and health insurance in the USA is based on greed rather than patient care and fairness. Once brought under reasonable control, these industries will be more flexible, cheaper, more fair, and MediCare can administered in a much more efficient manner.
Social Security will benefit greatly from tax reform. With the elimination of tax cheats, loop holes, and deductions for the rich to get richer, the tax rates will fall dramatically. Based on a smaller tax bite to wage earners, a small bump up in Social Security rate will help refill the coffers. That doesn’t mean that waste and fraud should not be rooted out in both Social Security and MediCare.
These are longer term solutions to bring the economy back to health. It will take the closing down of business for the lobbyists on K Street, the overturning of the “Citizens United” SCOTUS ruling, and lastly the removal of private money from the political process in America. All campaigns for office MUST be publicly funded, thus eliminating the purchase of favors by special interests. Any lobbying done by private industry MUST be done in the open public, preferably in hearing rooms in Congress.
I’m not sure anyone can disagree with my theories in this article. They represent what is good for the people and the economy of the country. I will comment soon on the “social aspects” of reform in this great country of ours. Thanks for your read today, and I look forward to your comments!