How to Raise the Dow by 5000 and Add 1,000,000 Jobs
"I think it's time to set the record straight. There has been all this nonsense thrown around about how I'm a socialist, that I hate business, that my agenda is for government to take over the economy.
"It isn't true. Yes, I flirted with a lot of left-wing thinking in my youth. Who didn't? But history's verdict over the past four decades is completely undeniable. The free market, on a global scale, is the path to prosperity for the USA and the rest of the world.
"I am not an ideologue. I'm a politician, and a pragmatic one. The best politics for me and my party is to convince the US business community that the Democratic Party is a better vehicle for prosperity than the Republicans. That isn't a strange idea. Look at Jack Kennedy's tax cuts, and Bill Clinton's commitments to free trade and welfare reform.
"So, starting right now, here's the message to the US business community: we are with you. We get it. We know perfectly well that government doesn't create jobs, and that we aren't going to prosper and compete in the world economy unless government is the wind under the wings of the free market.
"I'm announcing three steps today. First, I am issuing an executive order that requires our agencies to implement the recommendations from leaders of the information technology industry that should save us $1 trillion dollars over the next ten years by going after waste, duplication, fraud, and abuse in federal programs.
"Second, I'm going to push for federal litigation reform. I'm going to propose rules that say if lawyers bring frivolous claims to court, they and their clients will have to cover the other side's legal fees. Contingency fees will be capped, so that we aren't going to have lawyers getting multi-million dollar fee awards.
"Third, we are going to push to change our tax laws to ensure that if you take your company's profits and put them back into the business, they won't be taxed. Period.
"And that's just a start. From here on, so long as I'm President, I'm going to do what it takes to see that the federal government listens to business. Here at the White House and in Congress, we are going to stop treating business people like criminals and start asking their advice."
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7 comments:
Unfortunately, I do not believe that President Obama believes that "The free market, on a global scale, is the path to prosperity for the USA and the rest of the world." I don't believe that either he or the rest of the progressive left cares about prosperity. The progressive left cares about "leveling the playing field"-a very different concept from maintianing a system in which the realistic possibility of becoming and staying prosperous exists.
Which raises, to me, the interesting policy equation: If your system has Johnny making $100 and Mikey making $10, and you change tax structures so that Johnny makes $300 and Mikey makes $15, shouldn't Mikey be happy? He should be. But he won't be.
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