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Idaho's Weekly Journal of Local & National Commentary  Week 3714

 

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by Free Market Duck

  Prescription for Prosperity:  A Comprehensive Economic Revitalization Plan
(Mar 8, 2008)

Washington, DC – Listen up girl friends.  If you thought Big Brother in George Orwell’s novel 1984 or The Omnipotent State in Aldus Huxley’s Brave New World or Our Dear Leader in ‘V’ for Vendetta just popped up one day out of nowhere and stripped the people of all their rights and freedoms, you’re sadly mistaken.  These dictatorial welfare states took years of political corruption and brainwashing of the people to implement.

   But they all had one thing in common:  they were all founded upon the despotic philosophy of altruistic state collectivism.

   Historically, in the 20th century, altruistic state collectivism manifested itself as fascism in Italy, National Socialism in Germany, Communism in the Soviet Union and China, and The New Deal in America.  Same game, different names.

   Today, America’s Democratic Party advocates altruistic state collectivism under the name Progressivism but technically it is a mixture of Old European fascism-socialism with a Hillary Happy Face or Obama Smiley Wile E. Coyote grin.  Not to be outdone, America’s Republicans advocate altruistic state collectivism under the name Neo-, Theo-, or Compassionate Conservatism.

   All three of today’s remaining major 2008 presidential candidates, Senators Clinton and Obama for the Democrats, and John McCain for the Republicans advocate the same fundamental philosophy of altruistic state collectivism.  All three rely heavily upon a Keynesian, socialist central banking system, the Federal Reserve, to (1) dump the gold standard and (2) print up unlimited amounts – trillions and trillions – of non-backed paper dollars to finance their ideas of a giant Welfare State:  welfare redistribution for the Democrats and foreign military expansionism for the Republicans.

   The fundamental premises underlying all three of today’s major presidential candidates are no different than the altruistic state collectivism implemented by Mussolini in fascist Italy, Stalin in communist Russia, Mao in communist China, Adolf Hitler in National Socialist Germany, and FDR in America’s New Deal.  The only difference is that today’s economic fascism and National Socialism is being presented as what comedian George Carlin called, “Smiley Face Fascism,” in Joel Goldberg’s new book:  Liberal Fascism.

   Goldberg and Carlin are absolutely correct.

   Notice that we are NOT referring to the results of Mussolini, Stalin, or Hitler’s state collectivist policies but rather the initial premises that brought about the inevitable results:  the food rations, the loss of individual freedoms, the forced labor camps, the mass deportations, the gas chambers, the ethnic genocide.  In the case of FDR’s American fascism, we are NOT referring to FDR’s socialist WPA work programs or his criminalizing of the gold standard, forcing everybody to turn in their Double Eagles.  We are discussing the fundamental premises that led to those results.

   None of the above fascist or socialist or communist politicians – hence the term: state collectivists --  ran on a political platform of gas chambers or forced labor camps or global Recessions.  They all ran on state collectivist platforms of (1) national health care, (2) public education, (3) anti capitalism, (4) high taxation, (5) redistribution of everybody’s wealth, (6) no gold standard, (7) a government central bank issuing tons of non-backed paper money, (8) huge deficit financing, and (9) promising a chicken in every pot for all of their citizens.

   And the crowds in pre-World War II Italy, Germany, Russia, China, and FDR’s homey little Fireside Radio Chats cheered, just like today in America at the rallies for Clinton, Obama, and McCain.

   In short, the road to Hell – and Economic Serfdom -- is always paved with good intentions by fascist, socialist, and communist politicians, stomping on everybody’s inherent individual rights with their fiery bullshit rhetoric to whip up the masses because…well, because it works.  The Sheeple are easily fooled with economic sophisms and promises of security and riches by either unscrupulous or stupid politicians.

   Is there any prescription for America’s current philosophical madness with state collectivism?  The answer is an unequivocal YES.

   Only one presidential candidate, Rep. Ron Paul (R-TX), has put forth a free market, limited government, sound money Plan to put America back on the path to economic prosperity and social freedoms.  Ron Paul’s Prescription for Prosperity: A Comprehensive Economic Revitalization Plan is a simple four-step plan listed below.

   "As I [Ron Paul] said this past November to Federal Reserve Chairman Ben Bernanke, “We’re indeed between a rock and a hard place and we don’t talk about how we got here; we talk about how we are going to patch it up.”  The “solutions” proposed so far -- stimulus packages, bailouts, and interest rate cuts -- just amount to printing more money, which will lead to greater currency devaluation, contribute to the rising costs of living, and further squeeze the middle class and our senior citizens."

   Introduction to the Four-Point Plan

   America became the greatest, most prosperous nation in human history through low taxes, constitutionally limited government, personal freedom and a belief in sound money. We need to return to these principles so our economy can thrive again. When enacted, my plan will provide both short-term stimulus and lay the groundwork for long-term prosperity.

   Other candidates talk a lot about stimulus packages, but my record stands alone. I have fought for these measures for years as a member of Congress and will make them a top priority as president.

   Ron Paul, a 10-term Republican Congressman from Texas's 14th District, is currently the ranking member of the House Financial Services Committee's Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. He has been named "Taxpayers' Best Friend" for 10 consecutive years by the National Taxpayers' Union. Ron Paul is also the author of several books on monetary policy and economics.

The Four-Point Plan

  1. Tax Reform: Reduce the tax burden and eliminate taxes that punish investment and savings, including job-killing corporate taxes.
     

  2. Spending Reform: Eliminate wasteful spending. Reduce overseas commitments. Freeze all non-defense, non-entitlement spending at current levels.
     

  3. Monetary Policy Reform: Expand openness at the Federal Reserve and require the Fed to televise its meetings. Return value to our money.
     

  4. Regulatory Reform: Repeal Sarbanes/Oxley regulations that push companies to seek capital outside of US markets. Stop restricting community banks from fostering local economic growth.

1. Tax Reform

  • Eliminate Taxes on Dividends and Savings. The basis of capitalism is savings, and Americans who do so should be rewarded.
     

    • Pass HJ Res. 23 to encourage savings over consumption.
       

  • Repeal the Death Tax. Attacking small businesses and breaking up family farms smothers growth and kills jobs.
     

    • Pass H.R. 2734 to make the Bush tax cuts permanent.
       

  • Cut Taxes for Working Seniors. Grandmothers and grandfathers working to make ends meet should keep all the fruits of their labor.
     

    • Pass H.R. 191 to amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of Social Security benefits.
       

  • Eliminate Taxes on Social Security Benefits. That money belongs to seniors, not the government. They paid into the system for a lifetime, and they should be free to spend every penny as they see fit.
     

    • Pass H.R. 192 to amend the Internal Revenue Code of 1986 to repeal the 1993 increase in taxes on Social Security benefits.
       

  • Accelerate Depreciation on Investment. We need to help companies grow and create jobs.
     

    • Pass H.R. 4995 to amend the Internal Revenue Code of 1986 to reduce corporate marginal income tax rates.
       

  • Eliminate Taxes on Capital Gains. Investment should be embraced and rewarded.
     

    • Pass H.J. Res 23 (The “Liberty Amendment”), proposing an amendment to the Constitution of the United States relative to abolishing personal income, estate, and gift taxes and prohibiting the United States Government from engaging in business in competition with its citizens.
       

  • Eliminate Taxes on Tips.The single parents and working students who earn their income chiefly through tips deserve to keep all of their money. This tax on "estimated income" is unfair and should be ended.
     

    • Pass H.R. 3664 to amend the Internal Revenue Code of 1986 to provide that tips shall not be subject to income or employment taxes.
       

  • Support the Mortgage Cancellation Relief Act. Working families who lost their homes should not be punished a second time with a big IRS bill.
     

    • Pass H.R. 1876 to amend the Internal Revenue Code of 1986 to exclude from the gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations.

2. Spending Reform

  • Reduce Overseas Military Commitments. Our bases and troops should be on our soil.
     

    • It's time to stop subsidizing our trading partners in Europe, Japan and South Korea.
       

  • Freeze Non-Defense, Non-Entitlement Spending at Current Levels
     

    • I vote against all bloated, pork laden spending bills and will veto them as president.

3. Monetary Policy Reform

  • Televise Federal Open Market Committee Meetings. An institution as powerful as the Federal Reserve deserves full public scrutiny.
     

  • Expand Transparency and Accountability at the Federal Reserve
     

    • Pass H.R. 2754 to require the Board of Governors of the Federal Reserve System to continue to make available to the public on a weekly basis information on the measure of the M3 monetary aggregate and its components.

  • Return Value to Our Money. Legalize gold and silver as a competing currency.
     

    • Level the long-term boom and bust business cycle by passing H.R. 4683, which would repeal provisions of the federal criminal code relating to issuing coins of gold, silver, or other metal for use as current money and making or possessing likenesses of such coins.

4. Regulatory Reform

  • Repeal Sarbanes/Oxley. It has seriously wounded our capital markets and helped make the UK a financial center at our expense.
     

    • Ending these misguided regulations would bring jobs flooding back to the United States
       

    • Pass H.R. 1049 to reform Sarbanes-Oxley and reduce the burden it places on small businesses.
       

  • Repeal or Remove Costly and Unnecessary Federal Regulations. Neighbors know best how to help their neighbors.
     

    • We need to make it easier for community banks, credit unions, and other financial institutions to better serve their communities and to help people in these communities get access to credit and capital.
       

    • Pass H.R. 1869 to enhance the ability of community banks to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes.

FM Duck

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