If we are to work our way out of the economic mess we are in
nationally then we have to take some bold steps soon. Let us not forget that
this is a global issue as well, and that we are all in this together – each and
every nation – whether they played a direct role in making the mess or not. And
also let us not forget that the American economy is often a leader in the world
of high finance; we are relied on; yet this time we played a heavy role in
bringing down the international economy. So we have a responsibility to help
fix it. Here are my suggestions.
First, restore the Glass-Steagall Act or something very much
like it. Build an armored wall between the insurance, investment and banking
industries. They serve distinctly separate functions, each of basic importance
to the nation’s economy. More importantly, all three establish strict elements
of trust and faith in our economy. That is very much in short supply these
days.
Second, restore tax rates on those earning $500,000 per year
or more to the pre-Bush tax cut rate. These dollars are to be focused on
balancing the current budget and the following two; after that, reduction of
the national debt.
Third, establish an alternate energy investment program with
a goal to produce enough new energy to reduce oil consumption by 50% by the
year 2018. Tax credits to be liberally provided to all investing in this goal.
Fourth, establish a national education task force to
redesign the entire public education system, removing impediments to learning
and social discrimination both cultural and financial. The goal is to create a
life long learning culture that enables personal adaptability to change
throughout all life phases.
Fifth, reform campaign finance laws to eliminate
contributions from corporations and political action committees. All campaign
costs to be covered by the government entity to which the candidates are
seeking election: states pay for state candidacies; cities pay for elected
officials; federal government pays directly for senate and congressional
elections. Established budgets to be created; no funding from any other source
allowed.
Sixth, cut congress in half: one senator from each state;
exactly half of all congressional seats in the House of Representatives. At the
same time, eliminate all elected official health and retirement benefit
programs. If they need these programs, let them live on Social Security,
Medicare and Medicaid like the rest of the American people.
Howls of protest will be heard. Tough. It’s time the elected
became a part of the solution. So far most of them have been creators of the
problems. There are good people in the Senate and the House of
Representatives. Unfortunately their
good work is overpowered by the bad apples. As long as they are unable to
police their own institutions, then the electorate has to do it.
We have chaos in the land. There will be more before it is
settled. So let’s bite the bullet and move forward toward solutions that serve
our future as a nation, not special interest groups and political parties.
Eventually, political parties will change or be eliminated.
One person means one vote. No more or less. Parties mess up this balance. They
no longer earn our loyalty because their leadership has run amok. Time to say
so. Time to do something about it.
Are you game to try?
July 30, 2012
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