After November, Then What?
Happy Labor Day. For most of our neighbors, election season really begins tomorrow. Republicans, led by conservatives, are poised to do extremely well in November. But what then? The statist project has burrowed into our constitutional republic over a span of 80 years. How do we stage a concerted, long-term effort to reverse the trend, first by reigniting economic growth to ward off immediate calamity, then by slowly and methodically restoring our country?
I offer here my own omnibus American Liberty and Recovery Act of 2011, fully realizing that it is too ambitious in scope -- one of many reasons why I'm not a politician.
Liberty
- Repeal Obamacare. If repeal is vetoed refuse to fund implementation of the bill.
- Reform health care (for real this time) by permitting consumers to purchase health insurance across state lines. Also, equalize the tax treatment of employer-provided and individually-purchased health insurance.
- Deny EPA funding to regulate carbon dioxide, eliminating this backdoor effort at centralized industrial policy via administratively enacted cap and trade.
- Direct Treasury to unwind and privatize Fannie Mae and Freddie Mac.
- Direct Treasury to sell its stakes in US banks and automakers.
- Reverse the Gulf of Mexico oil-drilling ban.
- Repeal Obama’s new CAFÉ standards – automaker stimulus we can believe in.
- Repeal Dodd-Frank financial regulation – avoid the coming nightmare.
- Repeal Sarbanes-Oxley financial regulation – end the nightmare we already know by bringing back small company IPOs.
- Repeal the ethanol mandate for automobile fuel. Direct EPA to preempt state-by-state custom fuel blends, creating a truly national market.
Recovery
- Extend the Bush tax cuts – all of them.
- Reduce the US corporate income tax rate, at 35 percent the second highest on earth, to 15 percent. Get out of the way as corporate dollars and jobs flood back into America.
- Repeal the Alternative Minimum Tax. One tax system at a time is enough.
- Implement an Accelerated Cost Recovery System modeled on the Reagan-era depreciation schedule to spur investment in plant and equipment. Watch American small businesses start growing again.
- Enact the Ryan plan to place entitlement spending on a more sustainable trajectory
- Weed TARP and stimulus dollars out of the federal budget baseline. Return overall federal spending to pre-financial crisis levels.
So, fellow Ricochetans, if you were the incoming Speaker in the 112th Congress, what would you do in the first 100 days to save our country from the current crisis and set the stage for 2012 and beyond?
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Re: After November, Then What?
Midget Faded Rattlesnake
You are so right. I vividly recall my father explaining how this or that new rule promulgated to "protect the public" would have blocked him from ever qualifying as a court reporter (he taught himself at home, practicing every night in front of the radio or television) or for the licenses needed to open his construction, real estate and insurance businesses.