We can turn it around fast

JFK taught us how to fix this. Reagan and Bush 43 followed JFK's lead.

We can put this economy in our rear view mirror quickly with the following steps.

1) Stop printing money. China warns Federal Reserve over 'printing money' http://cryptogon.com/?p=8777 China holds the largest share of Treasury Bonds. We're now going to be paying them back with money that could be worth 1/6 2008 value. They may stop buying our debt. What if they try to sell all their T Bills before inflation kicks in?

2) Stop spending money. Including canceling the unspent portion of the 787 Billion. 45% of American's say cancel the money. http://www.reason.com/blog/show/134048.html

3) Cut Corporate tax rate to 10%. http://online.wsj.com/article/SB123215398370892313.html

The willingness to take business risk and create new jobs would be immediate.

4) Eliminate Capital Gains taxes. Capital gains tax is so economically inefficient--because of its punitive effect on entrepreneurship, thrift, and investment--that the optimal economic policy for the United States would be to abolish the tax entirely. http://www.cato.org/pub_display.php?pub_id=1101

5) Make The Bush Tax cuts permanent. Fifty-one percent (51%) of Americans favor an across-the-board tax cut for all Americans to stimulate the U.S. economy, according to Rasmussen Reports.

6) Burn the money we printed that banks haven't taken. We printed 1.2 trillion and released it but not all has been taken by banks. Burn it!

7) Eliminate the tax on repatriating money. The US taxes companies moving money back into the US. Why would we not want companies to bring their money to the US and invest it.

Our Current Economy

The Fed is printing money trying to prevent deflation and to fund spending. In mid 2008 we had about 500 billion dollars in circulation. By the end of 2009 we could have 2 trillion dollars in circulation. Wrong! In March 2009 we reached 3 trillion in circulation. http://www.washingtonpost.com/wp-dyn/content/article/2009/03/18/AR2009031802283.html This will result in high inflation starting in 2010. We could see over 20%. That could cripple our economy. Inflation hurts businesses and people. Taxes are too high. Every Tax cut has resulted in increased revenue. That means taxes are strangling our economy, loosen the rope and blood flows. The Bush tax cuts resulted in a 20% increase in revenue over the 1990's. http://www.nytimes.com/2005/07/13/business/13deficit.html

If we eliminate capital gains taxes and cut corporate taxes that would jump start our economy. Eliminating Capital Gains tax would help small businesses. It would also encourage people with money to take a risk and invest it. That would help our economy. Wealthy people might pull their money back into the US and invest it. People with money ship their cash out of the US to save taxes and not get hit with our death tax. The death tax killed family farms and hurts our economy because the wealthy hide their money offshore. One estimate is wealthy people in the US have invested 14 Trillion dollars offshore. Pulling 20% of that cash back into the US would stimulate our economy.

Taxes are a noose around the neck of our economy. High taxes cut off the blood supply and businesses move or die. Loosen the noose and blood flows. We have now had three major experiments with tax rate reduction in the last half-century, and each time both economic growth and tax revenues have surged. The Bush tax cuts resulted in a 20% increase in revenue over the 1990's.

Regan's tax cuts paid for themselves within four years. This is proof we are over taxed!

http://www.freedomworks.org/publications/tax-cut-revenue-rewards

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