By: Dr. A. H. Krieg
The president’s speech on the evening of September 8 was without question not a speech about the economy or how to fix it; it was another campaign speech for Obama’s reelection. The plan as announced is “The American Jobs Act” very long on vocalization, and very short on substance. The same old class warfare of tax the rich was repeated often. I lost count on “You Must Pass This Bill”. There are according to White House sources $447 billion in this act, (stimulus 4 one would suspect) the president never once mentioned any dollar amount. The true explanation of insanity is to repeat the same thing that has repeatedly failed before. There are to be lots of tax credits, even more unemployment compensation time extensions, 12 moths more to be exact, reduction in payroll taxes, tax credits of $ 4,000 for hiring a worker more than six months unemployed, more hiring of union positions (SEIU, AFL/CIO and Teamster) jobs, school teachers, police and firefighters. The usual infrastructure fairy tale, at least we were spared the “shovel ready” line. And last but not least a $1,500 tax credit to the middle class and then all for big labor and big business. “It’s all paid for” he said, well, not really, it is to be paid for out of cuts in increases of various unnamed government agencies budgets over the next decade. In fact I heard this speech before, several times.
Where the money comes from was not in the speech, only the statement that all would be paid for In fact after about ten minutes of no substance verbiage it turned into a campaign speech that totally excluded reality or the economy. There were no specifics on funding, there was no mention of how we pay for it, there was no substance, there was the usual Free Trade expansion to Korea and Columbia that will kill as many American Jobs as NAFTA and CAFTA combined.(about 10 million) The same ridicules notion that was presented in NAFTA that Mexicans would be buying Chevrolets came up with S. Korea
Mr. President, tax credits, payroll tax deductions, and the hiring of more union teachers and construction workers does exactly nothing for the economy. Furthermore it does nothing for small business that employs 75% of our national labor force. And lastly it does absolutely nothing for manufacturing or to bring it back to America. Let me tell you exactly what must be done to turn this economy around, and I speak with 37 years of experience as a CEO.
1) Eliminate the tax on savings accounts interest.
2) Eliminate all foreign aid.
3) Eliminate the Capital gains tax.
4) Allow all business total write –off of all new equipment purchased if it is at least 50% made in America or Canada upon purchses and delivery.
5) Scrap Obamacare.
6) Scrap the Dodd-Frank bill.
7) Reign in the EPA
8) Bring all American Troops home from Europe and put them on the Mexican border.
9) Bring all American Troops home from Japan and Okinawa.
10) Bring all troops home from Iraq.
11) Bring all troops home from Afghanistan.
12) Reduce corporate income taxes to 12%
13) Stop all export import tax credits to American Business.
14) Bring before congress a constitutional amendment for tort reform.
15) Bring before congress a balanced budget amendment
16) Stop illegal immigration now.
17) Control our southern border.
18) Shut down the Department of Education.
19) Shut down the Department of Energy.
20) Shut down the Department of Housing and Urban Development
21) Scrap Mexico out of NAFTA and scrap CAFTA.
22) Fire Bernanke and all your Czars.
23) Offer a special tax exception for two years and provide an interest free construction loan to be paid off in five years for the total cost of any company building coal-liquefaction plants.
24) Offer a 20 year-long-term no tax bond license for the construction of any nuclear power station.
25) Allow any American Corporation who has accumulated profits overseas to repatriate them to America tax-free.
Do these 25 things now and be re-elected by a landslide. You will have full employment in four months. The government’s coffers will be filled. Unemployment will fall to 2% in six months. Demand for labor will be so strong that the illegal issue will die. America will in two years be the envy of the world and the EU will follow suit or collapse.
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