Ideas for a better Union: The Economic Freedom Act
Here are a few ideas all bunched into one and amazingly enough they are in legislation already introduced in the House. The Economic Freedom Act was introduced last month by its sponsor, Representative Jim Jordan of Ohio. It has 24 Co-Sponsors. Here is what it would do (I say ‘would’ because it is highly unlikely Pelosi will give it much of a chance) :
- Eliminate capital gains taxes for both individuals and corporations.
- Reduce the corporate tax rate to 12.5%
- Eliminates the death tax
- Provides immediate business expensing
- Reduces the payroll tax by half
- Repeals any money not yet used from the “Stimulus Bill”
- Terminates the powers given to the Treasury by the TARP legislation and forces the government to sell any stock or warranties acquired through the program.
Many of these are old throwbacks from the days of President Calvin Coolidge. So many of the policies of this administration involve the government stepping in and taking more authority and more of our tax dollars. This legislation does the opposite. It takes out the government middleman and leaves the money where it should be…with the individuals and businesses that earn it. Even more amazing is that you can actually read this legislation in one sitting as the bill accomplishes all of this in about 5-10 pages…if that. It really brings to light how shady the other recent pieces of legislation are. If you need 2,000 plus pages, it is pretty obvious that you are hiding something, blowing smoke, or both. Here is a link to the legislation so you can read it if you wish. It was apparently based upon American Solutions Jobs First Plan.
So simple yet so effective. But will the President listen. I doubt it.
{ 1 comment }
great post tsc, these are great ideas and would help a lot that’s for sure. how can we deal with the following macro problems with the state:
we have an open border, and the entity with the power to enforce the law refuses to do it. everyone is on arizona’s case and all they are doing is what the feds refuse to do. wall street collapsed, taking our money with it, and the feds can’t figure out what to do because they are deeply complicit in the crash. both parties are loaded with politicians whose careers have been made possible by wall street. in the meantime(great song by spacehog), we pass huge laws that no one knows what’s in them and no one really knows how they will be executed or interpreted. which contributes to americans just throwing their arms in the air and becoming disconnected to the entire process, which is exactly what the feds want. washington insists they’re in control and they go to great extremes to show their in control. no one on the hill takes responsibility and real authority. all this adds to a growing disconnect between we the people and they the holders of the purse strings. wasn’t judas in charge of the money purse?
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