I keep reading all this nonsense in Washington about bailouts and numerous ideas to "spur" the economy and it makes me so sad. So I wanted to imagine a world where I was king for the day and what changes I would make.
1. Drastic Cuts To the Corporate Tax Rate - The fact that we have one of the highest corporate tax rates is one of many reasons business flees to tax-friendly states and nations. And guess what, lower taxes ALWAYS produce more revenue.
2. Drastic Cuts In the Capital Gains Tax - Don't penalize people for investing in the economy. And guess what, lower taxes ALWAYS produce more revenue.
3. Drastic Cuts In All Taxes - If I have more money in my pocket, guess what, I will spend it. If you want to see the economy improve, get people spending money again. And guess what, lower taxes ALWAYS produce more revenue.
4. No Bailouts EVER! - I'm sorry, this is just not the role of government. If you can't run your business, you probably should not be in charge or have a business. Its not the taxpayers' responsibility to save YOUR business.
5. Prosecute! - Prosecute every Fannie/Freddie punk and Democrat with their hands dirty from these banking scandals. Make them repay every cent they stole from cooking the books and jail these clowns in Congress that covered for them in Washington.
6. Freeze government hiring and salaries - In hard times, I have to make do with my income. Its time Washington should do the same. Congress especially should take an immediate 20% cut in pay and benefits. All nonmilitary pay and expenditures frozen. Drastically cut back in redundant useless Federal departments and personnel. Exactly why do we have a FEDERAL Department of Education?
7. Outlaw Democrats, ACORNs and Liberals - Well, most of them anyway. Maybe a few with brains could stay like Joe Lieberman and the more rational grassroots Democrats that vote out of fear of their union bosses or just plain ignorance. But for the most part Democrat politicians just screw up whatever they try and "fix." I call it the EVIL Midas touch. I'm only halfway kidding about this - BTW.
8. Get the Government Out - "Guvmint" needs to be removed from the medical field and a host of other industries ASAP. They only drive up costs with silly "feel good" regulation and make it harder to run a business. Get back to their original Constitutional mandates.
9. Drill Baby Drill! - Immediately open up all available land that shows promise for oil & gas exploration. Take some of the $700 Billion we send overseas each year for foreign oil and invest it in jobs in our country and grow the economy. Oil & Gas, will spike again and we cannot allow our enemies to use gas prices as a weapon against us!
10. Introduce Competition - School choice for education would empower students/parents to seek the best education. It would also create more private opportunities as business, teachers and technology create more effective and efficient ways to educate. Competition will improve education and raise the salaries for the better qualified teachers. The bloated and inefficient education bureaucracy will finally be put down for good.
11. Fairness Doctrine - Since liberals love this form of censorship as it applies to Conservative talk radio, apply this, just for fun, towards the radical left media at ABC, CBS, CNN, MSNBC, NBC, New York Times and PBS. Let's see how they like it when they have to offer equal time to offset their liberal bias and rants. This would be only for a short time to make a point. Conservatives do not believe in censorship, unlike the liberals.
12. Free Trade - Absolutely. But treat imports exactly the way they treat our exports. That is truly free trade. If they have trade restrictions, guess what their products will get them too!
13. Terrorism & Pirates - No more playing games. The gloves come off and like the Barbary Wars in the 19th century, the threat WILL be eliminated. There will be no terrorism or pirates and definitely no safe havens for either.
14. Judges - If they try and even create even the smallest law from the bench, or borrow some insane law from a foreign power, its off to jail. Their job is to interpret NOT legislate.
15. The End of Income Tax - Within a short time a Fair Tax or a Flat Tax would replace the current grossly unfair and ridiculous tax code. You should not have to have an advanced degree or pay hundreds to figure out what to pay in taxes.
16. Medical Savings Accounts - Put the responsibility back on consumers to control how much they want or need to spend for health care. Model these after 401ks that can grow tax free and be passed to survivors. Businesses could choose to contribute and/or match employee contributions as a perk. They could be used to purchase major medical and for paying for preventative care. It takes most of the insurance headaches off the table and empowers consumers to spend THEIR money wisely for the best care. Why this has not happened sooner shows you how screwed up Washington really is.
17. UN Money - Not a dime more to support the crooked institutions at the UN or to corrupt 3rd world despots. Money will be tied to Democratic reforms - not like our Democrat party - that would be stupid. But in building Democracies and economic freedom. That is the only true way to help people in poor countries - empower them to succeed.
18. Abortion - Put more emphasis on personal responsibility. This day there are far too many ways to prevent a pregnancy. Why this is such a divisive issue is beyond me. An unwanted pregnancy should never happen. Here's a novel thought - maybe medical science could find a way and save the baby and transfer into a willing mother's womb? There is some out of the box thinking for you. Murdering a baby in the womb is not what any civilized society should ever endorse.
19. Pop Culture - Short of a meteor taking out New York City and a major earthquake sinking California into the ocean, we are probably stuck with the loony left in entertainment. I guess reeducation camps can't be used. Maybe they will move to Canada? Or, we could just ignore them. Would they then cease to exist? Seems like I saw a movie that had as a concept.
20. Religion - Maybe for once I could worship or express my Christian beliefs, or any other religion for that matter, without being chased around by ACLU lawyer types. For some reason I thought I was guaranteed the freedom of worship somewhere, Now where was that again?
Well there you go. A pretty good day of work.
Its good to be the king!