Fiscal Cliff, Spending, Taxes, Deficits
Ladies and gentlemen, with U.S. National debt now over sixteen trillion dollars and annual budget deficit topping 1.1 trillion dollars, , the, so called, major political parties are again engaged in yet another political gimmick, while disastrous fiscal cliff hangs on American people, in a real way. The purpose of this fake fight is to create an impression that both parties are ready to fight for their ideologies and voters, and their bosses in corporate lobbies and media are fully supporting them. Please, do not be mislead by this fight, one more time. The two parties in the congress, want us to believe that they have stark ideological differences. As a matter of fact, they don’t. This is the same congress which, as reported by reason.com, passed the “ideologically non-partisan bills”:
“In just the past few months, for instance, the ostensibly gridlocked Congress reauthorized the Export-Import Bank program that gives money to foreign companies to buy U.S. goods; extended sharply reduced rates for government-subsidized student loans; re-upped the Essential Air Service program that subsidizes airline service to rural communities; and voted against ending the 1705 loan-guarantee program that gave rise to green-tech boondoggles such as Solyndra and Abound. None of these were party-line votes — all enjoyed hearty support from both Democrats and Republicans.”
So, there are no differences, when it comes to the wishes of their bosses in lobbies and media. They play these extremely polarizing drama, every once in a while, to force Americans, on siding with one party or the other. If you are a conservative and do not support Republican party, then, Democrats will do this and this, which will be extremely disastrous to our country. If you are leaning towards left and do not support Democrats, then, Republicans will do this and this, which will be a disaster for everyone. The bottom line, for this frequently repeated drama, is to keep you distracted from other choices in politics, the other political parties and their leaders. As usual, somewhere near the deadline, there will be compromise reached, for the greater benefit of American people. This way, both parties will save their faces. If ever asked, later, why did you agree to this disastrous proposal, they can easily say, “Huge fiscal cliff was hanging over. We were left with no choice. We did that for American people. To divert the crisis”. But, if you do a deep analysis of legislation done as a result of these grid locks, you find out that they took a great advantage of widely spread and prevailing nervousness, and did the law making which only benefited their corporate bosses and billion dollar campaign financiers.
These deadlocks, provide them other benefits, too. This way they can avoid long term solutions and get away with temporary and emergency measures, which leaves the cliff hanging, for long term. Since problems do not go away permanently, and only temporary solutions are offered, lobbies money keeps flowing in, making their campaigns, pockets and bank accounts fat.
Wake up people. This financial and fiscal situation we are in, is not a temporary issue, which just emerged out of blue. The bad politics of both leading parties has been creating these issues, since these parties starting alternating each other on every avenue of power, White House, Congress, states, cities and counties, starting from Abraham Lincoln, when Republican party was formed. The roots of these issues are long and deep and belong to the special interest which runs both parties, specially in financial terms. Since, problems cannot be solved by emergency and temporary measures, as the leaders of these parties and media would suggest, we need a complete overhaul of our financial system and government to solve these problems. The problem causing issues are deeply and widely embedded in taxation system, financial system, and government size and spending. Therefore, no permanent, effective and efficient solution is possible without a complete overhaul in all these inter-related spheres. We make the following proposals to deal with the issues related to current financial cliff:
1. End all taxes, including income tax, social security tax, Medicare tax and corporate tax. This will, immediately, make trillions of dollars available for spending in U.S. economy, which is seventy percent of U.S. GDP. Existing, businesses will have more money for expansion and hiring. End of corporate tax will spur a huge growth of start-ups. With reduced burden on businesses and consumers, and less risk involved, banks will lend lot more money to businesses and consumers, making even lot more money available for spending and business ventures.
2. Government cannot be run without tax money. So, replace all these abolished taxes with a 23% consumption tax, applicable at the points of sale. Make sure that the tax is not duplicated at the subsequent points of sale. This will ensure that money flows to the government through channels that people chose, and not through pre-determined, pre-spending channels like pay-check deductions. This new tax system will have zero pay check with holdings. This system will also make sure the participation of everyone in tax payment system. Citizen or non-citizen, legal or illegal, if you buy something you pay the tax.
3. Abolish IRS. This will cut down on bureaucracy and red tape. Will also help in reducing government spending.
4. Abolish Federal Reserve. The tax payer will not have to pay interest on money in circulation, and reckless spending and un-audited printing of money will stop, resulting in stronger dollar, improved buying power and reduced inflation.
5. Government is borrowing 31 cents on every dollar it spends. So, thirty-one percent across the board cuts on federal spending. When liberal media, economists and politicians say that huge spending cuts will cause serious unemployment and result into another recession, they ignore some critically important economic realities. For example, the 31% spending cuts will reduce the need for printing the money and borrowing from countries like China. This will result into much stronger dollar, reduce inflation, bring down the prices and cost of living, making it easier to live and do business. In addition to this it will divert the money from the most inefficient institution, government, to the far more efficient channels like private business, individual consumers and families.
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