What is Necessary To Rejuvenate the American Economy?

Bush, Pelosi, Reid, & Paulson Accelerate Corporate Socialism!
.....Obama vows to accelerate personal socialism!
..........McCain has a difficult time trying to clearly explain what
..........needs to be done!

THE BOTTOM LINE

Until the U.S. economy can regain its footing, it is going to be an ugly chapter of American history. Until American companies can successfully compete on an international basis, our economy will not reignite. People who are losing their jobs are not going to purchase a new house. Until people are finding jobs, buying cars, and purchasing new houses, the economy will remain in the tank. The government is sucking huge amounts of money out of the economy to bailout the Wall Street money meisters and the investment bank barons. Those hundreds of $billions will not create jobs. Instead, by removing the enormous weight of corporate taxes and healthcare costs from our corporations we could immediately change the dynamics of this financial stranglehold.

A GOLDEN OPPORTUNITY

Other countries have also stumbled because of lax lending standards, excessively low interest rates and unchecked greed. When a big country sneezes, many other countries catch a cold. While the rest of the world is also trying to revive their own economies, we need to make quick, intelligent and bold moves and take advantage of this moment of opportunity. Obama has a big box of band aids and McCain has a giant roll of duct tape. WHERE IS A REAL LEADER?

WHAT IS NECESSARY
TO REJUVINATE THE AMERICAN ECONOMY?

First and foremost, corporate and personal socialism, while sounding wonderful, have never been successful in practice – EVER - ANYWHERE! Why try something that has a 100% failure rate? This is not rocket science. The solutions are simple, obvious and necessary. While there are numerous items that need attention, there are three major issues that collectively can make a huge positive impact on our beleaguered economy and promote job creation:

1. REDUCE OR ELIMINATE CORPORATE TAXES. The U.S. has the 2nd highest corporate tax rate of all of the major developed countries. Companies pursue profits – not patriotism! If expenses (including taxes) are significantly less in another country, companies will build or relocate facilities in those countries. Companies do not pay taxes – they simply collect them for the government. The cost of the taxes is merely added to the price of the product that we purchase. We can not afford to ignore the fact that our companies are at a severe disadvantage because of our tax structure. Millions of American jobs are now in China, India, Korea and many other countries whose corporate taxes are much lower than ours. THAT MUST CHANGE IMMEDIATELY!
2. HEALTH CARE COSTS – same points as above on corporate taxes. America is the only major developed country that does not pay for healthcare through the government (that does not mean that the government has to take over healthcare – just provide the funding) WHY? Again, our companies are at a severe competitive disadvantage because none of their international competitors have that additional expense. General Motors and Ford each have more than $2,000 of extra costs (healthcare) that must be included in the price of a car – costs that their competitors do not have. That means Mercedes, BMW, and Honda etc. are selling more cars – and thus employing more workers! Hello!!!!
3. PURGE THE CLINTON/RUBIN FACTOR (OVER A $TRILLION OF FRAUDULENT LOANS) OUT OF THE ECONOMIC SYSTEM + REDIRECT THE BAILOUT $$$. Corporate bailouts + federal government partnership with American companies - are you kidding? Now even the worst run companies will not be allowed to fail – the very essence of capitalism (Remember Penn Central Railroad, Nash Rambler, Eastern Airlines and Pan Am?). The worst CEOs will be propped up with our taxes. All of the incompetent, greedy, big risk takers, who contributed to the financial meltdown, are being rescued with our money (corporate socialism). Mike and Mary Main Street (you and me), who had no potential upside in the financial orgy that ended up an economic disaster, are being robbed in order to cover the losses of the people who did have upside potential. That is immoral, probably unconstitutional and defies common sense.

Jimmy Carter cut the kindling wood (Community Reinvestment Act of 1977 – no need for a down payment, credit or a job – if you are still breathing you are qualified).

Bill Clinton and Robert Rubin lit the fire (manipulation of Fannie Mae and Freddie Mac in order to process enormous quantities of “sub prime loans”).

Alan Greenspan poured gas on a raging inferno of senseless and shameless borrowing (lowered interest rates and kept them low even when there was virtually no reason to do so).

Bush, Pelosi, Reid and Paulson are throwing our furniture, economic framework and our futures into the financial flames. They have arranged a taxpayer heist that makes Al Capone, Bonnie and Clyde, and Jesse James look like choir boys (and girls). Bush, still suffering from the “Katrina effect – afraid of being accused of not taking action quick enough – is quite willing to sign off on anything – even total stupidity.

The money for corporate bailouts should be redirected to laying the foundation of new alternative energy industries. These new industries can employ millions of U.S. workers and help our country become energy independent. If the government is going to put our money in the private economy (first, the very concept should be debated vigorously) then at least put it where it would do the most good.

The pain that will be suffered because of the stupidity of lenders and borrowers should be borne by the people who acted foolishly – not everyone else! Let those companies sell, merge or fail! Their stronger competitors will buy their assets – just not at the price that the “gambled but lost” want to get. As long as there is over a $trillion of fraudulent assets occupying space on corporate balance sheets, the credit markets will not function properly. Fire Henry Paulson and let’s get on with realistically solving the problem.

THE FUTURE WILL HAPPEN TO US -
OR WE WILL CREATE IT.
THE CHOICE IS OURS!