The Quitter Economy

Give us back our taxes BIG TIME ! We will buy things then start by:

1) Reduce permanently 10% of the federal and state work force - those left need work harder like most workers still working are forced to do,

2) Make all government employees INCLUDING senators, house of reps & the President /VP give up earning any more pension benefits (like most americans no longer have), INSTEAD give them a match of 50% on up 6% of their annual wage they contribute into a 403B plan - USE the TAX savings resulting from the dropping of new pension TO PROPERLY FUND SOCIAL SECURITY FOR THE TAXPES SINCE THATS 10 year from going BROKE

3) Have the FEDERAL government stop paying 80% for federal employee families health premium - drop it to 50%,

4) Increase the FEDERAL employee health insurance deductible to $1000 like most private employers now have,

5) make all senators and house of representatives serve NO MORE than 2 term limits - ends the power of long term senators, etc to force senators, etc to approve EARMARKS on bills alreday released from committee

6) Go to a flat tax Federal tax program so the IRS audits can stop (laying off 50% of that organizations tax payer supported staff)

7) after 1st child's birth to a single mom STOP paying for single mom's child birth , offer free sterilization - more than 1/2 the baby's being born in the US now being paid for by the government (TAXPAYERS in other words) and don't give these single mom's, who are abusing the free childbirth /single mom welfare system by having child after child out of wedlock, money to support more than 1 child

8) NO Social Security, Medicaid or Medicare benefits to ANYONE NOT A US CITIZEN even if their "citizen" child brings them into the US - as are all being done now for NON Citizens!

9) Give the President Line Item Veto rights

10) Give life in prison to ANY politician find guilty of any abuse of power or corruption while in office

11) OUR prisons - lower the taxes to care for the Prisoners - no more coffee or juice, let them drink water at ALL MEALS, feed them oatmeal/toast for breakfast, peanut butter/jelly sandwiches with crackers for lunch and inexpensive stew (easy to make and serve requiring less kitchen labor) And for medicines make them pay the FULL COST of medicine - why reduce their costs out of taxpayers pockets ? I didn't unjustly put them in prison THEY BROKE the law - suffer the CONSEQUENCES


STOP THE MADNESS


P.S. Anyone running on the above platform will WIN any FUTURE elections, so Go for IT you TRUE AMERICANS!

Can we really do it? Artist impression: http://gijsbertkoren.wordpress.com/2009/02/22/no-we-cant/

We all know how the economy behaves without the social net and stimulus plan; it was well illustrated during the Great Depression.

The important thing is to stimulate sectors of the economy that really needs correction by analyzing supply and demand.
For instance; US oil consumption is 20 millions of barrels per day; while oil production is only 8.5 millions per day. Therefore; domestic production should be encouraged to increase in such a way that it is cheaper making it at home than buying overseas and shipping it back.

For sectors in which products are generally produced cheaper at home and production exceeds consumption ( like automobile production); of course buying domestically would be great for the economy. Policy makers should encourage domestic comsumption in that sector at all costs.

With limited resources; sectors that need help should be prioritized. The domino effects will take well care of the whole economy.

Actually, Paulson had the correct solution with the original TARP idea. I don't know why they lost their cool and just blew that money. We can do this the same way we did the S&L, which also involved real estate and, unknown to most, ultimately did not cost the tax payers anything. In fact, we actually made money.

Create a resolution trust company, a "toxic bank" and give a ball park price on these toxic assets, say 40 cents on the dollar. All mortgages bought up by the Gov't automatically reset to 3%. After one year, the rate will increase to 4% four five years, after which time they will reset for the remainder of the term of the note at 5%.
Borrower retains the right to refinance into the private sector.

Any bank selling agrees that all other non-distressed mortgages it holds on owner occupied property as of the date the bill goes into effect will immediately reset to 30 years at 5%. unless they otherwise qualify for a better rate or term.

With this plan, you fix the banks by clearing their bad assets off the books, you raise household income by reducing mortgage payments, stop the decline in real estate by stopping most foreclosures, support housing for the underprivileged, and ultimately the Gov't will make a profit either on the interest or by selling all or part of the portfolio after seven years.

Oh, and did I mention that Gov't revenue might actually go up, not just because of the increase in disposable income, but also because of less in mortgage interest write-offs as a result of the reduced rates.

JFK put it best, not that it is not known to every first year economics student.

From the NY Times Published: September 18, 1984 : Rationale for Kennedy's Tax Cut

In a speech before the Economic Club of New York on Dec. 14, 1962, President Kennedy said:

''Our true choice is not between tax reduction, on the one hand, and the avoidance of large Federal deficits on the other. It is increasingly clear that, no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenue to balance the budget - just as it will never produce enough jobs or enough profits. In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low - and the soundest way to raise revenues in the long run is to cut rates now.''

http://query.nytimes.com/gst/fullpage.html?res=9505E2D6163BF93BA2575AC0A962948260

I am amazed that all these economists and "experts" keep on working on rescue packages. I think that it should be clear by now that this help just prolongs the agony. We need to let the economy follow its normal cycles. Let it fall and it will recover. This lifeline is just prolonging the failure with no evident help. No matter how much money gets poured on the problem, dynamics of the industry continue their course. Executives find a way to get big compensation and bonuses, employees gets laid off even in the companies that got Feds money to help them ???cope??? with the downturn , people are still afraid to spend except some who are spending $1,400 for a trash can.

I am amazed that all these economists and "experts" keep on working on rescue packages. I think that it should be clear by now that this help just prolongs the agony. We need to let the economy follow its normal cycles. Let it fall and it will recover. This lifeline is just prolonging the failure with no evident help. No matter how much money gets poured on the problem, dynamics of the industry continue their course. Executives find a way to get big compensation and bonuses, employees gets laid off even in the companies that got Feds money to help them ???cope??? with the downturn , people are still afraid to spend except some who are spending $1,400 for a trash can.

I can't think of a more stupid article title or attitude towards the economy. Does Daniel Gross really think that people want to hand in the keys to their homes?

As a very recently former employee of Circuit City's eCommerce department, I take Daniel's opinion of Circuit's "quitter" attitude with great offense. There were many of us who continued to do our jobs supporting the web site just as ardently as we did for peak, faithful employees to the bitter end. Daniel obviously only topically researched into Circuit City's woeful tale. A tale which began even before CEO Philip Schoonover took over the helm (and in my opinion, did little more than pillage the treasure to the tune of $30M/year, while those of us on the 'lower decks' thrashed wildly with bailing buckets). Perhaps Daniel Gross should have read the Trading Markets' insightful and detailed article to get the facts. The current CEO, Jim Marcum, did everything he could to sell the company. The fact is, in this economy - there just were no buyers. Nobody wanted a national retailer chain in as much debt as Circuit City. Judge Huennekens made the final, sad decision with all of the facts on the table. The liquidators had solid legal offers on the table, and time had run out.

How such a company, with circuitcity.com pulling in over $1.5B - yes, that's Billion - in revenue, could get into so much debt would be a very interesting story indeed.

My computeris messed up I'd like to see Halliburton's books too and Obama's donoor list too since he is refusing to release it so much for his transparency he promised

I'd like to see Halliburton's boooks too since he refuses to release his doonor list.oks too. Obama's b

Harley the final total were 1.2 million of Mc399K for Obama but Obama got more from the CEO's then Mc Cain unteresting since the dems always say the GOP is for CEo's and companies Mc Cain got more from the rankand file wow never wooud have thought that

Name a Bush lie?

See you know so little about the senate 60 votes are needed to advanxe legislation that is why the dems were so hot and heavy too get to 60 so they could ramrod their initiatives thru. Having a majority will do nothing unless you have 6o or more.he minority party can kill bills proceduraly by fillibuster and in commiees. Why do you think Ogama is lobbying repubs so hard now for his stimulus package he needs 60 votes in the senate.

The question marks were not in the article which I simply cut and pasted I don't know where they came from I am noot responsible for them

Sorry for the spelling my laptop keys are sticking.

Harley did you ever check to see how much Obama took from big oil - you're in for a surprise and again I don't care if its legal to suggest he has never been influenced by lobbyists is a joke. If you believe that I have a bridge to sell you.

My point is you asked for sources about Bush wanting to regulate Fannie and Freddie. It is in the New York Times. The democrats opposed any regulation and now they have both collapsed yet you blame Bush. I don't care who they took money from for their compaigns as long as it was legal. The dems caused the mortgage meltdown not Bush and just so you know I am not a republican I have no party affiliation I actually vote for people based on things like their views, positions, opinions and whether or not they seem sincere and honest. Look out more sniper fire coming in.