Here we go with Obama’s “stimulus” plan and his Bad Asset Relief Fund (BARF-I’m not kidding), right where I feared we’d go. Thus, I told you so. First and foremost it is primarily stimulates the government and does little to stimulate the economy. And I knew it! I knew that the Left loved their government, loved their redistribution of wealth, loved their ability to penalize success and reward failure. So here we are. Why couldn’t they just have moved to Russia or better yet, North Korea, one of the last strong holds of communism. Now the Left will argue to give it a chance, wait and see, don’t be so negative. Sorry folks, I knew it was coming and here it is.
The plan is not transparent, it is not fair, and it is not in the best interest of our country. And it doesn’t come close to creating jobs like the Left says it will. Read the bill and you will see how right I am. (I.E. millions upon millions for global warming research, honey bees, illegal aliens, NEA, off road trails, and on and on and on.) So here’s my plan. My plan is based upon the simple truth that private enterprise creates jobs and wealth and prosperity more quickly and effectively than government can ever hope too. Here is the REETZALITY FIVE POINT PLAN:
1. Eliminate corporate income taxes for two years. This will leave money in the hands of people who will spend it intelligently. No cost to the government except some lost revenues that is way less than the “stimulus package.” It will also bring in billions of dollars from “off-shore” accounts where corporations store their money to avoid taxes.
2. Change “Mark to Market” to a five year moving average. This will immediately create both solvency and liquidity in the financial markets. This will change the financial status of the financial industry greatly diminishing the need to “bail out.” This will have no cost to the government.
3. Eliminate depreciation accounting practices. If a company buys a capital good, they expense it immediately rather than over a depreciation schedule. This will inspire spending at, again, no cost to the government. This is also redundant of item number one, except that depreciation schedules are longer than two years so we need this one too.
4. Eliminate capital gains taxes for two years. This will inspire the liquidity and investment. The cost to the government will be much less than the stimulus package.
5. Reduce employment taxes by fifty percent. This will immediately put more money in the hands of the employees; after all, it is their money. Again, little cost to the government compared to the stimulus package and folks will spend. If they save, then banks have more money to lend. Either way a good stimulus.
That’s my plan folks. And the government doesn’t have to cut a single check, not one. Not one. And if you think the government will go bankrupt on this plan, get real. The budget in 2007 was 3.1 trillion and it is estimated that the defecit for 2008 will be near 700 billion. The current “stimulus plan” is a trillion dollars or a thirty three percent increase of the budget and at minimum a doubling of the deficit. There is no way that the cuts in taxes will cost the government even close to a trillion and further, it will stimulate the economy having a positive effect on other sources of revenues, i.e. sales taxes, new jobs with new employment taxes.
But they won’t do it, no they won’t, because it is contrary to their intention to redefine our country as a European Socialist style nation. Again, why can’t the Left just move? I would also again advise the parasites that they should be careful in that they are close to killing the host which are the folks who produce, innovate, earn, invent, employ, manufacture, and pay for most everything.
That’s my REETZALITY for the day.
Brett Reetz
