Post by nautonnier on Oct 26, 2014 18:43:07 GMT
Oct 25, 2014 16:41:25 GMT @codewhacker said:
Guys, Theoretical question. If we didn't address our debt what would you addressThe problem we face is that the debt which was run up by politicians advised by bankers, cannot be solved by politicians and bankers. Bankers deal in money, which is a representation of wealth but is not wealth. Wealth is making or growing products that can be sold so work goes in and a product is exchanged for its worth in money. Bankers spend all their time magicking money from nothing that is NOT creating wealth. Politicians spend all their time trying to work out how they can take other people's money, that is not creating wealth.
What neither group will do is remove regulations that stunt the production of wealth.
First thing to do is to put in place a sunset clause of 3 months on ALL regulations and Executive Orders (not laws) imposed for whatever reason by whatever federal agency since say 1998. Those regulations that are seen to be needed should be voted in INDIVIDUALLY by formal vote of Congress, not on the nod, but a formal counted vote. This will ensure that only those regulations and Executive Orders that are really important will stay in place after 3 months. New regulations and Executive Orders put in place by the Federal agencies or president will have an automatic 1 year sunset clause and like the earlier ones at the end of their initial year should be voted in INDIVIDUALLY by formal vote of Congress, not on the nod, but a formal counted vote. If the agencies or the president need something more lasting than 12 months then they should go to Congress and have the requirement passed as a bill and make the subject a law. The agencies and President will be barred from reintroducing matching or very similar regulations for 10 years.
The Tenth Amendment should be revisited and enforced and have an amendment to make the 'Commerce Clause' subsidiary to the Tenth Amendment. The Federal Government, Administration and Agencies should only have remit within their enumerated powers. This also means that the EPA, Department of Energy and Department of Education would be immediately shut down. So the Federal government would no longer have 'lands' and the bureau of Land Management would be terminated.
Finally, the tax code should be completely rewritten, but within a hard limit of 10 8" x 11" pages in 11pt with NO external references. So the entire tax code would be on those 10 pages. This should allow for the disbandment of the IRS.
The wealth creators would now be free of the parasitic overhead from Federal government and agencies trying to expand their remit. If there are urgent requirements they can be dealt with at State level or at Federal level, if within their enumerated powers.
All the little levers that Federal Government uses to massage the economy via agencies would be removed.
I would expect that within a year the country would have doubled or more its wealth production and this would continue. National debt would be rapidly reduced.
As an aside - an audit should be made of the gold reserves in Fort knox, and if they are not as they should be all members past and present of the Fed should be imprisoned.