I'll say it again for posterity or (as they said in "The Last Boy Scout") the cheap seats-
Providing the people with CONSTITUTIONAL GUARANTEES the state, federal and local governments will NOT confiscate or tax certain percentage of income and wealth is about the only way out of this economic mess.
You CONSTITUTIONALLY BAN corporate taxes
You CONSTITUTIONALLY cap total government spending at 20% GDP
You CONSTITUTIONALLY mandate balance budgets
You CONSTITUTIONALLY ban the government from taxing any wealth
and you will get a flood of multiple-trillions of dollars into the US economy.
But no, you morons would prefer to instead focus on the "gini coefficient."
Is it wrong for me to cheer on the utter collapse of the US economy?
If you constitutionally ban the ability of Congress to go further into debt in order to purchase votes from non-workers, the entire Goverment as we know it might fail.
ReplyDeleteI say go for it! It is a good plan.
Constitutional bans only work if the government abides by the constitution. This government clearly doesn't.
ReplyDeleteGreat ideas on ceasing taxes on the corporations.
ReplyDeleteCan we also add that one must contribute to government to vote? IE: in the form of taxes or volunteering.
Another good one is that the politicians cannot be paid unless there is a working budget in place. The only tax that can be collected is a Federal sales tax. At least then the people would have the choice through economic activity if they wanted to support the government.
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ReplyDeleteSorry, Cappy Capt. The formerly great state of California has amendments mandating a due date for an annual budget, and that said budget must be balanced.
ReplyDeleteYou've seen how well that works.
Voters have to let the various levels of GOVT do as little as possible, and hold their feet to the fire daily - or hourly. Anything less is window dressing and sound-bites.
Yeah it's wrong. Understandable though.
ReplyDeleteAs an economist you should know the quote, which I'll paraphrase:
Inflation: A measure of the fiscal immorality of a nation.
(and "official" inflation rate doesn't count)
Here's another " The fastest way to destroy a country is by debasing it currency"
There's another famous quote, that'll paraphrase; that being that a national cannot long survive the immorality of it's people.
The US constitution + bill of rights is a work of genius, it is clear, as well written as any legal document ever was, and concise. But if "the people" as represented by "their rulers/representative" are bound and determined to pervert the the spirit and letter of the law then there is no hope.
In a Representative Democracy, a constituency creates its government.
ReplyDeleteWe live in a constituency that is more concerned with people like Kim Kardashian or who is winning American Idol than they are with who is running the country and watching the money.
Yet somehow we are surprised when the people running the country turn out to be idiots.
They are merely a reflection of the electorate. Only way out of that one is to move.
You mean the original Constitution. You want to repeal the 16th Amendment? There's no chance of that.
ReplyDeleteYou mean the original Constitution. You want to repeal the 16th Amendment? There's no chance of that.
ReplyDelete