Five Things Leftists Won't Let Obama Do to Help Economy

Commentary by Jeff Carter - President Obama spoke in a time of crisis yesterday. What little credibility he had with the market was blown. The market tanked further after his comments. This time, it was looking for a little pick me up. He advocated for a payroll tax cut (meaningless) and extension of jobless benefits(meaningless). He criticized S&P, but his words are hollow because the scoreboard shows markets the truth. can see a way for the market to rebound. However, it would take the Congress to pass some very aggressive legislation. That is impossible right now because of the Democratic party. My ideas would provide incentives for the private sector to administer a huge positive economic shock to the system. Critics will cite accounting numbers. We need to look at economics. We also can’t control events in Europe-so we need to remedy our situation at home and hope they take care of business there.
Here is what Washington should do:
1. Flat tax everyone at 19%-no write offs

2. Push corporate tax rates and corporate dividend taxes to 0%

3. Take capital gains taxes to 0%.

4. Immediately lift regulations on exploring for domestic energy in oil, gas and coal.

5. Allow highly skilled people to immigrate to the US, and grant them citizenship if they start a business and buy a home.
The market would stop it’s decline. I wouldn’t worry about government revenues. They will come soon enough due to the exponential economic activity that would be created. Read more

Five Things Leftists Won't Let Obama Do to Help Economy