Posts Tagged ‘President Trump’

WILL PRESIDENT TRUMP CREATE JOBS & GROW THE ECONOMY?

After most recessions, Gross Domestic Product (GDP) growth comes back with  a strong minimum 5% increase/year.   But not the recession of 2008-09…annual growth averaged under 2% for the eight years that Barrack Obama was President and the Civilian Labor Force Participation Rate diminished to 62.8%, the lowest it had been since 1978.   Moreover, although the official unemployment rate was under 5%, it would have been about 12% if it were measured the way it was back in the year 2000, and over 20% if it were measured the way it was during the Great Depression in the 30’s.

So what’s happened under President Obama?  Why not the usual strong growth?  Business had  a few trillion dollars that it held onto oversees, so why didn’t it spend its money to expand its operations and create millions of jobs in the U.S.?  There’s a lot of  reasons why business was cautious in expansion…and we need to understand what the problem was in order to continue to turn around today’s economy and foster substantial job growth (and the increased tax revenues that come with job growth).  Of course, the Affordable Care Act (“Obamacare”) is filled with disincentives to job growth, especially full-time jobs, so it was partially responsible. The large number of regulations and tax increases under President Obama also added additional burdens on job creators and that’s another major cause.

But who am I to be pontificating on jobs and the economy?  Well, I do have a masters degree in Government Administration from the University of Pennsylvania.  And my degree is from the Wharton School in the U. of P., which is known for its econometric models of the economy.  To be clear, however, my education was in government, not economics, though I did need to have economics and accounting courses as well as a statistics course in order to graduate from Wharton with my MGA long ago.  I also worked for the Federal government for over40 years in various capacities, and have also worked for the state of Pennsylvania and the city of Philadelphia.

FORMER  SUCCESSFUL QUICK RECOVERIES

Let’s put aside education and experience qualifications because, from my observations, ideology trumps education.  I’ve seen PhD’s advocate  really stupid positions, even in light of contradictory evidence.  So I tend to look at the real world, what actually happens when a particular economic policy is followed and practiced.

I’ll start with the policies used by President John F. Kennedy in the early 1960s.  When confronted with a recession, he cut tax rates which led to increased economic growth and recovery.  In addition, when President Ronald Reagan inherited the worst recession since the Great Depression from President Jimmy Carter in 1980 (unemployment over 10%, inflation 13.5%, mortgage interest rates up to 20%), President Reagan cut tax rates to the extent that GDP almost doubled in ten years and tax revenues to the Federal government greatly increased in the 10 years following the tax rate cuts.  President George W. Bush had a similar experience with tax rate cuts, revenues to the Federal government significantly increased.

PAST FAILURES

Let’s look at what actually happened when the opposite approach was used:  it is estimated that President Franklin D. Roosevelt doubled the duration of the Great Depression in the 1930’s by using the John Keynes economic model of increasing government deficit spending, and the US still did not even get out of the Great Depression until World War II.   Moreover, when Japan’s economy went bust in the 90’s, it spent trillions over a 20-year period trying to stimulate its economy.  The huge deficit spending did nothing except give Japan a huge debt.

WHAT PRESIDENT OBAMA TRIED

Which brings us up to to when President Barrack Obama spent almost a trillion dollars in his “stimulus” package in a effort to turn around the economy…and he also devalued the dollar by having The Federal Reserve Bank print trillions of dollars with no backing through it’s so-called Quantitative Easing 1, 2, and 3.  He also tried other short-term Federal spending programs such as his “cash for clunkers” and engaged in huge annual deficit spending, the extent of which had never been seen before.  His economic policies, based on the discredited theories of economist, John Maynard Keynes,  have actually have made the economy worse by piling up huge government debt (over $20 trillion in total national debt which is greater than the annual GDP of the US), with very little to show for it,  and whose interest payments will be unsustainable when interest rates increase.

Let’s look at other factors significantly adversely affecting the economy, such as oppressive government regulations.  One of the reasons for President Bill Clinton’s economic success in the 1990s was his significantly cutting back many Federal Regulations (as well as the reduction in government employment through attrition) as part of his “National Performance Review” initiative.  President Obama’s policy, on the other hand,  on preventing drilling for oil in the Gulf of Mexico, has resulted in 240,000 barrels/day less oil from the Gulf,  which would have led to large increases in gasoline prices were it not for oil companies engaging in horizontal drilling and fracking on private and State lands.  Another example of over-regulation is the Dodd-Frank bill, the stated purpose of which was to prevent future financial meltdowns…but it did not even deal with the cause of the meltdown, Fannie Mae and Freddie Mac, who threatened  and coerced banks into making housing loans to people who could not afford to repay them.  Dodd-Frank also had adverse impacts on small banks and dried up loan money for small businesses that would have otherwise been available to them to expand.

Then there’s Obamacare which has been estimated to actually cost the government up to 3 trillion dollars in the first 10 years, as well as lead to very expensive, rationed and inferior health care.   Then, of course, there’s EPA’s over-regulations, such as the one on carbon dioxide, which as we know, is an inert gas, the chief purpose of which is food for plant life, plants which turn carbon dioxide into oxygen.  Moreover, let’s not forget how hundreds of thousands of farm hands were suddenly unemployed when the US Department of the Interior shut off the water to California’s Central Valley in an effort to protect the Delta Smelt (a small fish) that was on the Endangered Species list.  All of these things have severely hurt jobs.  Finally, President Obama extending unemployment benefits to 99 weeks actually increased unemployment because studies show that, on average, unemployment benefit recipients don’t even begin looking for work until 4 weeks prior to the end of their benefits.

IS CUTTING TAX RATES FAIR?

But stimulating the economy by cutting tax rates isn’t fair, is it?  Even President Obama said in an interview a year or so before he was elected President, when confronted with the fact that cutting the capital gains tax rate in the past had actually resulted in increased tax revenues to the Federal government, that he still would not cut the capital gains tax rate because “it isn’t fair.”

So is it fair to cut tax rates even though we know that the result would be to increase tax revenues?  The nation would then have more money to help the poor, not less, so why not do it?  I can understand the “equality” argument but  is it really a good thing if everyone were equally poor as they are in many countries?   “So what” if there are some super-wealthy people…we know that in the United States they will eventually give most of their money to charity anyway and do it much more wisely than the Federal government!   Winston Churchill said that  capitalism is a bad form of government except that it’s better than all other forms of government.

THE SOLUTION

Cutting  tax rates and regulations have always worked in the past and would stimulate the economy and thereby create many jobs.   Political ideology is the only thing preventing our government from following these time-tested strategies.   Presidents Kennedy, Reagan and Bush all increased tax revenues by cutting tax rates for everyone.  Today, the bottom 50% of earners pay no Federal income taxes…the upper 10 %, on the other hand,  pay 70% of all Federal income taxes.  If you believe that’s not enough, how much is enough?  The U.S. corporate tax rate is currently 35%, the highest in the world, and consequently has led to many businesses moving their operations and jobs to other countries and has caused the United States to lose many jobs.  It’s estimated that there are at least 3 trillion dollars off-shore that we could entice back to the US if we offered a ten percent corporate tax rate for the first few years and a contract stating that the businesses would remain in the US for at least another 5 years.  The US needs to put ideology aside and focus on solving the nation’s economic problems.  Although  President Obama can appear very friendly, his policies have really hurt the United States, so it’s time for newly-elected President Trump to: 1)cut tax rates on the working and middle classes, as well as on businesses; 2)rein in the Environmental Protection Agency from over-regulation; 3)eliminate job and small business-killing regulations; 4)cut corporate income taxes from their current 35% (the highest in the world) to 20% to lure back the large number of businesses that moved overseas to escape the U.S. confiscatory taxes; and 5)repeal and replace the Affordable Care Act (“Obamacare”).   President Donald Trump has done or will do these things and by so doing will grow the economy and create jobs and consequently significantly reduce the U.S.’ annual budget deficits.

The U.S. Senate, however, due to its slim Republican majority and arcane rules, may not be able to approve the bills necessary to implement the necessary changes.  If this happens, many Senators will lose their jobs in 2018.  However, even without major tax cuts, President Trump, through Executive Orders and deals with many countries and corporations, has increased GDP to over 3% growth for the last two budget quarters.

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THE DEMOCRAT, LIBERAL, PROGRESSIVE LEFT

Although I’m mostly conservative, I always try to be even-handed in my writing, giving both sides of issues.  However, the Left has become so radical, and even criminal, that I thought one article that was not even-handed is in order and appropriate…just one.

1. Donald J. Trump was not a politician.  Over the years, he contributed millions to both Democrats and Republicans.  As President, he is not ideological but looks for policies and solutions that are practical.  Democrats, Mainstream Media, Hollywood, Universities hate him so much that it looks like those groups have become unhinged and even deranged.   Large sums of money are spent by George Soros and other Democrat Party supporters and benfactors to employ paid agitators to be on call to be violent and counterprotest any group or issue the’re told to protest.

2. The media has become so dishonest that absolutely nothing it says about President Trump can be believed.

3. Democrat Party leaders refuse to debate issues but instead make “ad hominen” (personal) attacks against Republicans.  The reason for this is that their policies are really stupid and cannot be successfully argued against informed conservatives.

4. Democrat policy positions on everything, from Healthcare to Tax  Cuts, are disengenuous and are geared soley to further the Democrat Party at the expense of the American public.

5. Far-left Democrats should commend President Obama because he really tried his very best to drasically weaken our military, economic system, and Healthcare in order to further his Socialist agenda and that of the Democrat Party.   He also allowed a large number of illegal alliens into the U.S. since most will vote Democrat, and he doubled the National debt (from $10 trillion to $20 trillion), coming close to bankrupting the country.

6. The Democrat Party and Barack Obama destroyed healthcare insurance for millions of Americans.

7. The far left shouts down conservative speakers on college campuses, thus demostrating it does not believe in the First Amedment to the U.S. Constitution on freedom of speech.

8. If the news media competently did its job and reported fairly on both sides of every issue despite its leftist views, much of the problems I mention above would go away.

9. Many Republican leaders are timid and cannot competently argue conservative policy positions though those positions are usually far better than liberal positions.  Were it not for Fox News, talk radio and President Trump, the Republican Party would be in terrible shape.  In other words, as stupid as most liberal postions are, the timidity of many Republican leaders really hurts conservative policy positions.

CHARLOTTESVILLE: OBSESSED with RACE!

Charlottesville, Virginia, is just another page in race relations in America being corrupted by politics.  Other relatively recent pages that turned political include Mike Brown in Ferguson, Eric Garner in New York, etc., etc.   The Brown incident was due to a policeman protecting himself from being killed; the Garner incident was due to the police being overzealous and inappropriate in its use of force.  Years later the U.S. is still agitated from those incidents, and others, including Charlottesville, to the extent that two New York City police officers, Rafael Ramos and Wenjian Liu, were ambushed and killed for revenge while sitting in their police car. Why?

I believe that many Americans are obsessed with race!   Dr. Martin Luther King, Jr. said that his dream was that one day his four little children will live in a nation where they will be judged, not by the color of their skin, but by the content of their character.  In other words, a “color-blind” society was his dream.  The opposite has and is taking place even though race relations in the U.S. for most people are okay.   Democrat politicians and their minions call anyone a racist who disagrees with them on anything, whether or not it has anything to do with race.   Moreover, the government encourages discrimination in many, many ways including something so minor as requiring race and ethnic information in order to get medical care (I refuse to provide it calling it “racist” on the form).

My credentials for stating the above: while working for the Federal government for over 40 years,  I volunteered to perform three “collateral-duty” jobs that took up to 20% of my official work time, each for a minimum of five years.  Two of the three involved fighting racial, ethnic, and gender discrimination.  In one of my collateral-duty jobs, I was instrumental in increasing Latino employment by my Federal Bureau from under 1 % to 6% of the workforce (as the Hispanic Employment Program Manager); in the other collateral-duty job, I counseled about a dozen minorities and women in seeking remedies for alleged discrimination (as an EEO Counselor).  Each of these positions required extensive training which I was happy to take and I performed well, to the extent that I received EEO awards from my bureau and the Department of Interior.   These experiences, plus working at my father’s butcher shop (with a 99% African-American clientele) when growing up, working as a counselor at a camp with 50% African-American “campers,” and attending a Junior High School with 50% African-American students, gives me a far better perspective than most white Americans in understanding race relations.

My perspective on race relations today versus throughout the past is that, with the exception of the past 9 years, relations have improved significantly in the past 60 years.  But if my perspective is accurate, why is racism such a major concern today? Is it really politics as I stated earlier?  Author of the book, The Big Black Lie, Kevin Jackson, blames the Democratic Party in its attempt to convince voters that Republicans are racists.  In his book, Wrong on Race, Bruce Bartlett enumerates the Democratic Party’s history of racism.  Most recently, author of the book, Mugged, Ann Coulter, gives a very detailed account of racial demogoguery by the Democrat Party from the seventies to Obama.  My own experience and observations validate what I read and make me hopping mad.  The pain and suffering by all parties has been perpetuated solely for political gain.  I also agree with Dinesh D’Souza’s book, The End of Racism, that the American obsession with race is fueled by a civil rights establishment that has a vested interest in perpetuating black dependency.

Will this obsession with race ever end?  Only when the deception behind it is fully exposed and widely acknowledged.  Unfortunately, that day may never come.  What would Dr. King say?  Nothing…I believe he would be  in tears!

Let’s go back in time to when African-Americans were freed from slavery and see what Booker T. Washington, born a slave, who established the Tuskegee Institute in Alabama to educate and train African-Americans and was the most prominent African-American in his day (1856-1915), said in his book, “Up from Slavery”:  “…the policy to be pursued with reference to the races was, by every honorable means, to bring together and to encourage the cultivation of friendly relations, instead of doing that which would embitter.”  What is happening today is the opposite of what Mr. Washington advocated and is being done mostly in order to keep 90% of African-Americans voting for the Democratic Party.

Obviously, the violent protests by the racist groups were reprehensible and the violent protests against them were also wrong.  The violence was wrong. President Trump condemned the violence on three occasions on TV as well as in a few tweets yet he was still criticized.  This indicates how political race has become in America.  It needs to stop.  The first amendment to the U.S. Constitution gives all Americans the right to protest but no one has the right to protest violently and hurt others.  Police need to do their job and immediately arrest anyone being violent.

 

NATIONAL DEFENSE AUTHORIZATION ACT: PROS & CONS

Each year, the National Defense Authorization Act is controversial.  In 2012, for example, it basically funded our military for the year but also was the first time it contained provisions for apprehending and detaining indefinitely any U.S. citizen suspected of terrorism without charging him/her with any crime or giving a trial.

It might be understandable why President Obama wanted such power, however, this was not in accordance with the U.S. Constitution and could have been a slippery slope, where a well-meaning law, eventually morphs into something sinister.  President Obama added a “Signing Statement” specifying when he might use the authority, but even if you take him at his word, opponents ask “how about future presidents?”  Might they use it?  How about President Trump?  The 2012 National Defense Authorization Act, however, was for only one year, so didn’t the provision expire at the end of that year?

What made this interesting was that President Obama stopped the U.S. using water-boarding and other interrogation methods because he said he thought they were unconstitutional, but his abundant use of drones in blowing up foreign combatants was OK with him.  Nearby innocent civilians, referred to as “collateral damage” were also inadvertently killed when an enemy combatant was killed with a drone.

Because President Obama could be so charming and was such a persuasive speaker, it’s hard to believe anything negative about him, so one must look at his actions  and not simply listen to his rhetoric.  A number of civil rights organizations, including the ACLU and Human Rights Watch, had denounced his signing the Bill into law.  To date, it appears that the President had gone even further in using this authority.  One well-known example of this is the imprisoning of the person who created the DVD that allegedly insulted Islam, and the Obama Administration contended led to the rioting that led to U.S. Ambassador Christopher Stevens and three other Americans being killed at the U.S. embassy in Benghazi.  Of course we now know that the DVD had nothing to do with the rioting.

Strengthening the military was one of the tenets that President Trump ran for President on.  However, building up the military  should not require doing anything unconstitutional.  We will know soon.

 

 

 

POLITICAL TALK IS CHEAP

President Trump is not a great speaker, but thus far he appears to be getting a lot of things done (whether you agree with those things or not).

President Obama, on the other hand,  was a great speaker but his actions demonstrated that he was a poor manager.  Or was he?  If you liked how the economy and his job-creation efforts performed (lowest civilian labor-force participation rate since 1978), and liked the declining strength of the military, and think our foreign policy helped the United States, then you may have believed that the President performed well.

I heard many times each day that “Obama said this,” or “Obama said that.”  However, whatever the President said is irrelevant because his actions told us better than any words how he and we were doing.  When the President said that he thought about the economy every day but didn’t meet with his “Jobs Council” for many months at a time, it’s was  natural to question the President’s sincerity.  When Obama suggested he “felt our pain,” but took Air Force One to New York where traffic was stopped for hours so he and Michelle could have a “night out” in “The Big Apple,” that said a lot more about his true feelings.  Camp David in Maryland was developed specifically for our presidents…it’s a waste that  presidents don’t use it  for their vacations.

What about President Obama’s $800 billion “stimulus” the first year he was in office?  Wouldn’t unemployment have been even worse without it?  Much of the stimulus was a waste of money…only 6% of it went for infrastructure projects within the United States though infrastructure was touted as one of its justifications.  Reality is that much of the stimulus went for failed so-called “green” projects, like Solyndra,  led by his friends and supporters.  The President can certainly “talk the talk,” but he obviously can’t “walk the walk.”  Of course, now the Federal Reserve is pumping billions/month into the economy with nothing to back it…which is why the Stock Market continues to rise though the economy is not doing well.

If you saw the movie, “2016” you may think this is exactly what Obama wanted…larger government, smaller and weaker United States.  I think the creators of that movie gave the President far too much credit…it’s a lot simpler than that…he simply didn’t understand how free enterprise works and that it not only leads to economic success so that a country can afford to take care of its poor and have an effective military, but it is morally and ethically superior to all other forms of government because it gives everyone an opportunity for the satisfying  “earned success,” while taking care of the less fortunate.

The President talked a great game but it’s taking all of the mainstream media, most of Hollywood, most universities and colleges, the Unions, and far-left, multi-billionaire, George Soros’ money, to keep him from not having worse job approval numbers than he currently has.  I believe the only way the Democrats were able to win the popular vote in 2016 was by massive voter fraud in California , which goes back to “Boss Tweed” and Tamany Hall, which  is part of the heritage of the Democratic Party.  Specifically, California passed a law allowing undocumented immigrants (or illegal aliens) to get California driver licences; and then passed a Motor-Voter law that almost automatically registered them to vote.  A Harvard study showed that in 2008, 6.4% (certified), (14% uncertified) of illegal aliens voted.  I believe these numbers will be dwarfed by the 2016 numbers.

President Trump is not a great speaker, but he seems to be a great doer, insofar he has gotten a lot done.  We’ll see if he stays the course or reverts to a usual politician who is all talk and no action.

 

 

DEMOCRAT PARTY & OBAMA POLICIES FOOLED US TWICE

I didn’t vote for Barack Obama in 2008 or 2012.  In 2008 it was a very difficult choice for me because I had devoted many years to fighting racial discrimination and eagerly wanted to vote for the first black President.  However, on eight of the top ten National issues, I disagreed with Obama’s positions, so I couldn’t vote for him in good conscience.  Though I didn’t vote for Obama, I believed what he said about his being “post-partisan” and wanting a “transparent” Presidency.  While there were some rumblings on the right about Obama really being a far-left radical, I was unconvinced and believed his message of “hope and change.”  By the 2012 Presidential election, I had become convinced that President Obama followed Democrat policies which destroyed many businesses and jobs, and made health insurance unaffordable for anyone who paid for Obamacare themselves.

Eight years after electing Barrack Obama president, President Obama had a record of a number of failures, of wasting trillions of dollars, of race relations being much worse than when he became President, and of focusing on a health care system that was far worse and much more expensive than most Americans could afford.  After eight years of Obama, we had a Civilian Laborforce Participation Rate the lowest since 1978, 62.8% and a Gross Domestic Product (GDP) whose growth did not reach 3% annually for his entire presidency.  Calling President Obama economically incompetent doesn’t come close to describing the situation accurately.  I started following elections in 1952 with President Dwight Eisenhower.  Of the eleven Presidents I have followed since then, President Obama is the worst.  He was unqualified to be President, in part, because he had no executive, managerial, leadership, or even administrative experience.

Now we’re in 2017 and the economy is slightly improved but still not healthy. “But he’s done his best,” you might say.  President Obama’s best was simply not good enough.  He’s was in over his head.  He is a good father and husband, and I’m sure he was a terrific community organizer, but his policies as President have been a disaster and therefore whoever ran as the Democrat nomiee in 2016 should not have been elected because Democrat policies simply did not work.  However, far more important than President Obama’s lack of any relevant qualifications and having had many failures as President, is the fact that he was constantly untruthful to the extent that nothing he said could be trusted as being accurate.  What does this have to do with other Democrats who might run for President in the future?  Everything!   Most democrat policies are very destructive.  There is no war on women (see my post, “War on Women”), no longer very much new man-made Global Warming (see my post, “Global Cooling”), not much racism (see my post, “Obsessed with Race”), a phony gun issue (see my post “More Guns, Less Crime”), etc., ad infinitum.  I spend over six hours/day following national and political issues, and have my Masters degree in Government Administration from the University of Pennsylvania, so it’s easy for me to know who knows what they are doing and who does not (and President Obama doesn’t know, economically,  and has surrounded himself with economic advisors who all believe in Keynesian economics although it has never worked).  Though the U.S. was fooled twice by President Obama and the corrupt Democrat Party in 2008 and 2012, I don’t intend to be fooled by them again.  Let’s see what President Trump and the Republican House and Senate does.

CONSEQUENCES to the U.S. from PRESIDENT OBAMA’S ECONOMIC POLICIES

 

President Obama meant well.  He sounded sincere and touted “fairness” as his primary concern in his governance of the nation.  However, it’s true that “the road to hell is paved with people with good intentions.”  In plain English, it almost doesn’t matter if the President was sincere  and meant well if the results of his policies were to cause great  harm to hundreds of millions of people.  The percentage of Americans with full-time jobs (“Civilian Labor-force Participation Rate”) has not been as low as today (62% of civilian labor force) since the late seventies and if unemployment statistics were calculated the way they were in the year 2000, unemployment would be about 10%.  If they were calculated the way they were during the Great Depression, unemployment would be over 20%.  Below is my analysis of those major policies of President Obama that destroyed the American dream for many Americansand which President Trump and the Congress need to reform:

A. OBAMACARE/AFFORDABLE CARE ACT: This  law is a wet blanket on the economy. While I’m for good healthcare, and for insuring people with pre-existing conditions as well as kids up to the age of 26 years-of-age on their parents insurance, Obamacare is a bureaucratic nightmare with much more expensive premiums for most people, and unbelievably-high deductibles and co-pays.  This turns most Obamacare policies into catastrophic care only because most people will never meet their deductibles and will therefore be paying out-of-pocket for most of their healthcare.  This turkey needs to go and hopefully will be replaced with something created by a combination of Senators and Representatives from both major political parties.

B. IMPEDING ENERGY PRODUCTION:  A decision on the Keystone pipeline was made for political reasons.  Oil production on government land was significantly down, however, basically because the environmental lobby was against all fossil fuels.  Meanwhile, America has more gas, oil, coal, and shale oil than all of the countries in the Middle East combined but government regulations prevent most of it from being developed.  The wealth created by all of this energy could pay off the National debt, the trillions in unfunded liabilities, and produce an economic boom the likes of which no country has ever seen.  And as thoroughly, scientifically, and irrefutably proven in David Archibald’s, Twilight of Abundance, the warming trend of the earth over the last century, up until 18 years ago when it stopped,  is due mostly to Sun Spots and Solar Flares, not to the burning of fossil fuels.  

C. DEFICITS/NATIONAL DEBT: President Obama doubled the National Debt (from $9 trillion to $20).  The Federal government is still borrowing billions/month from the Federal Reserve so the annual budget deficit is currently over 1/2 trillion dollars/year.  Each year the Annual Budget Deficit is added to the total National debt and currently the National debt is about $20 trillion.  This amount of deficit spending and National Debt is unsustainable. The Federal Reserve  has the authority to print money and by doing so has been able to get away with this huge deficit spending,  but doing so without the backing of gold and/or legitimate loans from other countries, simply inflates our currency.  The U.S. dollar is currently the world’s “reserve currency,”  but our borrowing and spending may eventually change that.  When it occurs, the dollar will immediately decrease in value by about 30%, our credit rating dramatically reduced and interest rates on our borrowing dramatically increased, and our ability to borrow severely curtailed.

D. REGULATIONS:  Regulations are necessary in our society but government needs to be very careful in not over-regulating since this can and does add significant costs to the economy, negatively impacts business creation, and reduces freedoms.  The regulations written pursuant to Dodd-Frank, the Endangered Species Act (ESA), and the Affordable Care Act  (“Obamacare”), among many others, are excessively burdensome to people and the economy.  ESA, for example, has caused the destruction of most crops in California’s Central Valley due to the Delta Smelt, a small fish on the Endangered Species list. Dodd-Frank is a financial nightmare that does nothing to prevent future bank problems.  Obamacare has and is destroying jobs.

E.  HIGH TAXES:  Money taken from the economy in taxes should be limited because it hurts the economy.  Tax money should be used only for legitimate purposes.  Higher taxes is a drag and drain on the economy so  government needs to be careful to spend it wisely.  Lowering tax rates on everyone who pays taxes in order to stimulate the economy is the preferred way of increasing tax revenues and growing the economy to pay for Social Security, Medicare, Medicaid, unemployment benefits, etc.

F. CORPORATE TAXES:  A significant Obama policy  that has unintentionally done  harm to many people is the retention of the 35% corporate tax, which is higher than any other country in the world.  This has led to the flight  of many U.S. corporations and businesses to other countries, and with this flight, the jobs and taxes that go with them.  They need to be reduced to 15-20%.

G. PROLONGED UNEMPLOYMENT BENEFITS:  Extension of the duration of unemployment benefits for more than  12 months is very harmful to the unemployed as evidenced by studies showing  the unemployed usually do not even look for jobs until a few weeks prior to their unemployment benefits expiring.  At one point, Obama, in conjunction with a Democrat Congress, extended unemployment benefits to 24 months. “Compassion” was the stated reason, but getting the unemployed off of of the official unemployment roles  so that the official unemployment rate would be lowered is the real reaon.

H., I., J.,K., L., M., N., etc.

In closing, most Americans were proud that the U.S. elected an African-American President 151 years after the Emancipation Proclamation freed  American slaves, even if they personally did not vote for him.  The United States inherited slavery from England when it took over the country in 1776 but had to temporarily retain slavery  in order to form the Union to include Southern States (the “Great Compromise”).  At the first opportunity, the U.S. rid itself of slavery (in 1863).

The first African-American President unfortunately had no experience in managing anything or in guiding an economy and therefore the U.S. consequently is badly hurting economically.  While I believe President Obama meant well, he also still believed that failed liberal/”progressive” economic policies (“Keynesian economics”) were the way to stimulate the economy and therefore turned a blind eye to workable economic policies.

President Reagan demonstrated how to get an economy working and the proof is the fact that the Gross Domestic Product (which measures the size of the economy) of the United States almost doubled 1n the 10 years following Reagan’s implementation of his large reduction in tax rates (1983-1993) and curtailing Federal regulations.  President Kennedy also stimulated the economy during a recession in the 60’s by cutting tax rates.

 

 

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