Wednesday, November 24, 2010

Eight Steps To Restore American Capitalism and the American Dream

UNLESS, the electorate comes to hear about, understand and take action

1. To restore the regulatory basis for Capitalism, i.e., hold to maturity accounting in the Private Sector, FASB 115,

a. To create a Constitutional Amendment to prevent mark to market accounting to ever be enacted by the government

2. To reduce taxes to 11% for those earning over $50,000, based on the Laffer Curve (2) studies showing that the result winds up both maximizing tax revenues and economic growth and the prediction of the economics of the bank regulatory mechanism that such dramatic increase in sustainable affordability of mortgages and loans will also dramatically increase lending to support all classes of Private sector loans.

3. To cut government spending and the bureaucracy in half to provide the Private Sector with access to credit not in competition with government, while

a. Another “Grace Commission” as established by Peter Grace with Edwin Rubenstein as head of Research to go through the bureaucracy to suggest and provide means to 1/ streamline the bureaucracy, 2/ eliminate bureaucratic waste, 3/ sunset bureaucracies, 4/ eliminate counter-productive regulations, 5/ propose alternatives to reduce health care costs, e.g., tort reform, and green competitive versus punitive, where green is not subsidized by higher energy costs, but provides for tax credits.

4. Release oil and gas drilling and nuclear power in the US, which will drive US energy prices down, with every 1% decline in cost of energy equaling a 3% gain in manufacturing.

5. To use the deflationary offset in a balances approach to reducing the government debt and real infrastructure and R&D stimulus, as outlined conceptually above.

6. To eliminate the Department of Education and NEA from public schools and allow the individuals credit to go to the schools of their choice, while requiring Universities and institutes to raise money from the wealthy versus the government.

7. Increase tax credits for charities and foundations, while eliminating welfare, cutting unemployment payments in half.

8. To reinstate the Founder’s vision of American Capitalism, requiring government to become a referee, opposing predatory, monopolistic and crony capitalism / State Capitalism.

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