What would you have done differently?
- Thread starter Jarod
- Start date
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The Almighty
There is a big difference between asking 'what would you have done' and trying to guess 'what McCain would have done'....
Dixie - In Memoriam
New member
1. Repeal Obamacare. This is the single biggest obstacle to private sector hiring at the moment, I believe.
2. Eliminate Capital Gains Tax. This would free up enormous private sector capital and create economic prosperity and jobs.
3. Greatly reduce (or eliminate) Corporate Taxes. This would cause an influx of foreign investment, which we are currently seeing NONE of.
4. Balance the Budget. A Balanced Budget would show the financial institutions we are serious about our debt problem, and would have prevented downgrade.
5. Reduce Income Tax rates across the board, and broaden the base. This has worked to produce greater revenues every time.
6. Lift all moratoriums on oil exploration, and open ANWR for drilling. Oil independence is a huge step toward energy independence.
7. No bailouts! Let the capitalist free market work itself out on its own. Companies are NOT "too big to fail" ...if they fail, they NEEDED to fail, and something else NEEDED to take their place, it's how capitalist systems work.
8. Deregulation as opposed to massive Regulation. Obama is responsible for the largest uptick in regulatory burden, in the history of the US. This simply KILLS jobs.
I'm sure I can think of a few other things, that's just off the top of my head. If this stuff had been done as soon as Obama took office, we would be in great shape right now, the economy would be churning, jobs would be growing by MILLIONS per month, and REAL jobs, not fake temporary government jobs or low-pay menial labor jobs, but factory jobs, technical and skilled trade jobs, professional jobs that pay well... this is what is produced when business grows and expands in a capitalist system.
One thing I would not do, I wouldn't be trying to tell everybody that having more people than ever before on food stamps is a good thing because it is "stimulus"...
I absolutely would not set the number of people on the dole as a measure of my success in any way, I wouldn't want to even appear as if I was doing that. It is not a good thing to have ever more people on food stamps. If such were the case the number of starving in a nation would be a positive economic indicator.
I absolutely would not set the number of people on the dole as a measure of my success in any way, I wouldn't want to even appear as if I was doing that. It is not a good thing to have ever more people on food stamps. If such were the case the number of starving in a nation would be a positive economic indicator.
I don't think anyone said that having people on food stamps is a good thing. The comment that I read was that food stamps are a good thing, which they are.
apple0154
MEOW
I have to go with letting Wall Street fall on their ass. (I see Dixie, The Dude and I are all in agreement. Let us make a mental note for future reference.)
Then I would have made a sharp Left turn, so to say. Just as successful companies bought out the losers for pennies on the dollar the government should have used the TARP money to do that. Same with companies like GM. Pick up the spoils. Then the government wouldn't have to raise taxes. The money the wealthy investors lost would be quite sufficient. The companies that went bankrupt and were purchased for next to nothing by the government could afford to keep the employees working considering the material assets and buildings were bought for a song. No mortgage. No payments for equipment. Minimal payment to suppliers for parts already received. Basically, the same thing as happens when a person goes bankrupt.
Then the government starts running things and rides out the depression. The previously wealthy are OK as if they had money to invest they must have a bit left over to live on even if a few mansions go on the auction block. The average Joe would do OK as he/she would still have a job.
As time passed and the world economy regained it's footing our Republican capitalist friends would be bitching and ranting and raving how the country went Socialist. Democrats, being the always compromising, let's get along folks would agree and put all the businesses they had purchased at rock bottom prices up for sale at current value. The government coffers would be overflowing, the new Capitalists would be having a continuous orgasm thinking about how they could, once again, try to screw the general population and everyone would go to sleep with visions of sugar-plums dancing in their head.
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Guns Guns Guns
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The Almighty
That said Jarod... if I had the power to do so, here is what I would have done
1) Uptick rule back in place ... makes it far too easy for short sellers to run naked shorts (which are illegal, but rarely caught/prosecuted)
2) Glass Steagall back in place ... the natural firewall between retail and investment bank needs to be put back in place as wall street has shown us EXACTLY why it was put in place and maintained from FDR until the Clinton repeal. In NO way should we have let the big banks fail. It would have caused a systemic meltdown throughout our entire financial system, taking down the good with the bad. That said, we most certainly should not have allowed the 'too big to fail' to get bigger.
3) Open up all oil and nat gas drilling within the US and off our shores. Our environmental protections and our ability to police drilling in the US is far better than what is found in countries like Saudi, Iran, Iraq etc....
4) Flat tax with a standard deduction.... despite idiots like Mott being unable to comprehend, the vast majority of this country would understand and appreciate the INCOME tax code being reduced to two brackets with only a high standard deduction. Thus eliminating ALL loopholes, deductions, subsidies. It would also tax ALL sources of income equally, whether it be earned income, dividends or capital gains.
5) Elimination of the highly regressive corporate tax. It is a highly regressive hidden tax on consumers (and to an extent on employees).
6) 'Man on the moon' initiative..... conversion of our transportation infrastructure from gasoline to nat gas. THIS is the type of project the stimulus money should have been spent on. Not only would it provide jobs in the short term, but it would also drastically reduce our trade deficit and keep the majority of the money we currently send to other countries for oil HERE in the US. It would also have a positive environmental impact as nat gas burns cleaner than gasoline. The improved air quality could also help reduce health care issues related to the pollution from vehicles.
7) Mortgage industry.... simple regulation: To buy a home, a buyer must have the verified income to afford a 30 year fixed rate maturity on the property. Affordability defined as mortgage less than 40% of take home (after taxes) pay. IF the buyer qualifies, THEN they can explore ARMs should they desire.
8) Social Security: create a donut hole.... SS taxes kick back in for those earning more than $500k
9) Defense... cut the unnecessary weapons programs, admin, close foreign bases that no longer offer any strategic advantage. Target... 30% cut overall
10) Education.... cut the unnecessary admin, move tenure to 10 years, quit teaching to the lowest common denominator
11) Health care..... get rid of defensive medicine, enact tort reform, make sure insurance companies show corresponding decreases in malpractice premiums, then make sure hospitals/doctors cut their rates
1) Uptick rule back in place ... makes it far too easy for short sellers to run naked shorts (which are illegal, but rarely caught/prosecuted)
2) Glass Steagall back in place ... the natural firewall between retail and investment bank needs to be put back in place as wall street has shown us EXACTLY why it was put in place and maintained from FDR until the Clinton repeal. In NO way should we have let the big banks fail. It would have caused a systemic meltdown throughout our entire financial system, taking down the good with the bad. That said, we most certainly should not have allowed the 'too big to fail' to get bigger.
3) Open up all oil and nat gas drilling within the US and off our shores. Our environmental protections and our ability to police drilling in the US is far better than what is found in countries like Saudi, Iran, Iraq etc....
4) Flat tax with a standard deduction.... despite idiots like Mott being unable to comprehend, the vast majority of this country would understand and appreciate the INCOME tax code being reduced to two brackets with only a high standard deduction. Thus eliminating ALL loopholes, deductions, subsidies. It would also tax ALL sources of income equally, whether it be earned income, dividends or capital gains.
5) Elimination of the highly regressive corporate tax. It is a highly regressive hidden tax on consumers (and to an extent on employees).
6) 'Man on the moon' initiative..... conversion of our transportation infrastructure from gasoline to nat gas. THIS is the type of project the stimulus money should have been spent on. Not only would it provide jobs in the short term, but it would also drastically reduce our trade deficit and keep the majority of the money we currently send to other countries for oil HERE in the US. It would also have a positive environmental impact as nat gas burns cleaner than gasoline. The improved air quality could also help reduce health care issues related to the pollution from vehicles.
7) Mortgage industry.... simple regulation: To buy a home, a buyer must have the verified income to afford a 30 year fixed rate maturity on the property. Affordability defined as mortgage less than 40% of take home (after taxes) pay. IF the buyer qualifies, THEN they can explore ARMs should they desire.
8) Social Security: create a donut hole.... SS taxes kick back in for those earning more than $500k
9) Defense... cut the unnecessary weapons programs, admin, close foreign bases that no longer offer any strategic advantage. Target... 30% cut overall
10) Education.... cut the unnecessary admin, move tenure to 10 years, quit teaching to the lowest common denominator
11) Health care..... get rid of defensive medicine, enact tort reform, make sure insurance companies show corresponding decreases in malpractice premiums, then make sure hospitals/doctors cut their rates
Again, the problem is the appearance. And again, if such were the case then all the starving nations just need to make "food stamps" and BOOM their economies will explode. Solve two problems with one stone. All you need is that magical food stamp, see?
I'm doing a good thing as the President with more people than ever before on food stamps! WOOOT!
I would avoid the APPEARANCE of that last sentence, I would not be proclaiming it as a "good thing" in any way. It is not an indicator that things are going well for him, even if he has convinced himself that it is "stimulus"...
Maybe you should quote the President directly. What exactly did he say? I'm guessing that the problem is your interpretation of what he said and the appearance you want to create rather than the actual words the President used.
And again, food stamps are good things and they do stimulate the economy. For just a few minutes, maybe you should try to be a human being with respect and dignity for your fellow man rather than a Republican and I'm sure you'll be able to understand why.
No, that is what you would have done, I don't think McCain would have done those things! I am pretty sure he wouldn't have done some of those things!
"Every American should buy an Amway distributorship, sit back and watch the cash pour in," the Arizona senator declared. "I've studied almost every page of the Amway pamphlet. Everybody will get rich. My economic advisers tell me this would have a very fundamental effect on fundamental things -- like jobs."
McCain further predicted that Amway's vast line of household products, spurred by huge new demand after franchisees start beating the bushes to sell Amway distributorships to others, who will sell distributorships to still others, who will sell distributorships to the yet others, one of whom will actually have to buy Amway products to sell,
He would have us become involved in a pyramid business scheme!
Minister of Truth
Practically Perfect
I agree with Rana. Remember, people, McCain is a budget hawk, not a tax cutter.
Maybe you should get a clue lad....Both Nancy Pelosi and President Obama’s Secretary of Agriculture, Tom Vilsack, said that food stamps are stimulus. Not only that, he’s excited about the “job growth” food bring about. You know, because there’s no form of welfare these Democrats don’t think of as stimulative to the economy.
Thats two of the senior people representing his administration....his silence about their quotes says to everyone that he agrees with them....its his administrations position....
So just because the words did not directly come out of Obamas mouth is irrelevant....stop being such an obvious hack.
He wants to reduce the corporate tax rate from 35% to 25%, let businesses immediately write off investments in new equipment and technology, and keep the capital-gains tax rate low, but he wouldn't eliminate it!
http://articles.moneycentral.msn.co...stingTrading/HowMcCainWouldFixTheEconomy.aspx
http://articles.moneycentral.msn.co...stingTrading/HowMcCainWouldFixTheEconomy.aspx
Minister of Truth
Practically Perfect
I'd be willing to jack up taxes on high levels of personal income if we could slash the ridiculous 35% corporate tax rate.
Which changes nothing about what I said. Nothing at all. Having his toadies go out and tell everybody how great it is as a stimulus will only create the impression that his administration is touting that record as a good thing, and it will undoubtedly write the ads for your opponent. I would not do this, not if I wanted to actually win a second term.