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12 American Solutions For Jobs & Prosperity

by The Reverend on March 2, 2009

in Barack Obama,economy,GOP

Is this Rosemary's Baby all grown up?

Is this Rosemary's Baby all grown up?

I have always thought that Newt Gingrich was a bit odd. I thought his Contract With America plan in the 90's was pure corporate-friendly puffball showboating. The Gingrich-led 1994 takeover of Congress quickly went to Newt's head like a good bong hit….leading his self-pumped ego to threaten Bill Clinton, a popular president, with a shutdown of the federal government. The Newton, properly spanked by a much smarter, and more popular president, lost credibility….and power…and his Speaker position….and he hasn't, really, ever recovered.

Despite this relatively recent Gingrich crash and burn fun…..conservatives, when asked about who in the GOP has any, you know, good ideas…..ideas for a modern America, post-Junior….point to Newt Gingrich. He's the Republican Party's "intellectual", he's the one conservative with well-thought out ideas, ideas that, somehow, will capture the imagination of a modern nation.

At Americansolutions.com, Gingrich lists his newly released, "12 American Solutions for Jobs and Prosperity", plan, presumably, to counter the recently-passed Reinvestment and Recovery Act championed by Barack Obama. Notice that even in Newt's title here, he can't help being the ideological prick that he really has always been. Notice that Gingrich's list is not entitled, "12 Solutions for Jobs and Prosperity",….it's 12 AMERICAN Solutions. You know, rather than Obama's "European" solutions, because as Sarah Palin has told the country numerous times, Obama is a socialist at heart, his thinking seen in those dangerous socialist nations of western Europe and (gasp) Canada, who have risked their entire existence by providing health care for all their citizens.

Here's Newt Gingrich's 12 Solutions….

1) Payroll Tax Stimulus. With a temporary new tax credit to offset 50% of the payroll tax, every small business would have more money, and all Americans would take home more of what they earn.
2) Real Middle-Income Tax Relief. Reduce the marginal tax rate of 25% down to 15%, in effect establishing a flat-rate tax of 15% for close to 9 out of 10 American workers.
3) Reduce the Business Tax Rate. Match Ireland’s rate of 12.5% to keep more jobs in America.
4) Homeowner’s Assistance. Provide tax credit incentives to responsible home buyers so they can keep their homes.
5) Control Spending So We Can Move to a Balanced Budget. This begins with eliminating Congressional earmarks and wasteful pork-barrel spending.
6) No State Aid Without Protection From Fraud. Require state governments to adopt anti-fraud and anti-theft policies before giving them more money.
7) More American Energy Now. Explore for more American oil and gas and invest in affordable energy for the future, including clean coal, ethanol, nuclear power and renewable fuels.
8) Abolish Taxes on Capital Gains. Match China, Singapore and many other competitors. More investment in America means more jobs in America.
9) Protect the Rights of American Workers. We must protect a worker’s right to decide by secret ballot whether to join a union, and the worker’s right to freely negotiate. Forced unionism will kill jobs in America at a time when we can’t afford to lose them.
10) Replace Sarbanes-Oxley. This failed law is crippling entrepreneurial startups. Replace it with affordable rules that help create jobs, not destroy them.
11) Abolish the Death Tax. Americans should work for their families, not for Washington.
12) Invest in Energy and Transportation Infrastructure. This includes a new, expanded electric power grid and a 21st century air traffic control system that will reduce delays in air travel and save passengers, employees and airlines billions of dollars per year.

Translation: 6 of 12 (1-4,8,11) "solutions" are tax cuts. 50% of Newt's plan, and he's the "intellectual" of the GOP, consists of the same "solutions" that George W. Bush and his former-majority Republicans, not to be confused with intellectuals, implemented with his radical cutting of taxes, mainly advantaging the wealthiest. How did those Bush tax cuts, historic in nature, restore "jobs and prosperity" to America? They didn't.

2 of Newtie's 12 (7&12) "solutions", power grid expansion and investing in affordable energy, Obama has included in his Recovery Act and his budget proposal. Copying off of smarter kids' work can make you seem "intelligent" at the time….but we know what usually happens in the long term.

#9 is anti-union worker…..and a boldface lie. Newt, and all those who kneel before Big Money, know that Card Check (EFCA) doesn't eliminate secret ballots. It just doesn't. So they lie and deceive.

#5, controlling spending and earmarks, is a bit hypocritical in light of all the Republican presidents in my lifetime and their problem with deficits, and trivial in light of earmarks making up less than 1% of Obama's budget. Obama has proposed halving the Bush deficit in 4 years through…wait for it….controlling spending.

#6, "No State Aid Without Protection From Fraud", seems like an attempt to slow down any economic improvement that may result from Obama's stimulus program. Muck up the state machinery with new red tape in the hopes that the federal stimulus will not succeed. All in the name of "fraud protection."

Finally, number 10. Extensive deregulation of the financial industry produced the depression we're in right now. So, naturally, the "intellectual idea man", Newt Gingrich, wants to deregulate even more. Remember Enron? Arthur Andersen? Sarbanes-Oxley was in response to all that brilliant and succesful "creative accounting" and "off balance sheet" intellectualism that came out of Enron….smartest guys in the room and all. Gingrich, full of new ideas, wants Sarbanes-Oxley revoked.

I'm just sayin'….if these are the Republicans' "solutions for jobs and prosperity", and I don't see any others, then the Jews 40 years of wandering in the wilderness will seem like a walk around the block in comparison to the GOP's self-exile to the fringes of irrelevance.

  • Andrea

    His plan is to make sure the rich can get richer and forget about the poor. Sounds like the same old republican plan.

  • mary

    Yup same old same old. Republicans seem to be very very "toughy" lately. They do not seem very confident and in charge. I am just watching CNN — so far I have managed to avoid Limbaugh clips — and they are touchy touchy. Something must be bothering them. Maybe it is their leadership. Ya think?

  • averagejoe5

    Remember congress did balance the budget and put a plan in place to get rid of the national debt. Clinton and Gingrich worked well together and we had a prosperous spell until things began to unwind at the end. Mostly I think because of Clinton's impeachment trials and all of the bubble busts.

    The DOW has been on a down trend since November. This is directly related to Obama's ideas of change. Remember, no matter how much you demonize Wall Street we need these folks to invest in and build our country. If we pile taxes on them they will invest where they can make the most profit or they will pull their profits from their current investments. It's already happening. The DOW hasn't been this low since 1997. However, here is a bright side, consumer spending and income is up.

    Andrea – his idea for tax cuts across the board and cutting middle class income taxes down to 15% and a payroll tax stimulus is exactly what we need. Cutting business taxes and capital gains taxes is exactly what we need to assure investment in businesses in America. Who cares if the rich get richer as long as the middle class benefit also, Gingrich knows this and it's in his plan. Jealousy and demonizing of the rich risk takers is going to kill what we have left of America as we know it.

    Gingrich in not Rosemary's baby. He is very intelligent.

  • Da King

    Yeah, why listen to anything dumb old Gingrich says. Gingrich's silly plan only resulted in our last balanced federal budgets. What does he know ?

    Rev says, "controlling spending and earmarks, is a bit hypocritical in light of all the Republican presidents in my lifetime and their problem with deficits, and trivial in light of earmarks making up less than 1% of Obama's budget."

    And it's a LOT hypocritical for anyone who supports Obama's $1.75 trillion deficit, projected $5 trillion in additional debt, Obama increasing federal government to 28% of GDP, etc. to complain about GOP deficits, which are all dwarfed in comparison to Obama's.

    Unlike Obama's faux stimulus giveaway to Dem constituencies, Newt's plan actually would have a stimulative effect that would create jobs in the private sector. Every time Obama makes another enormous, anti-growth, economic blunder (about every other day), the stock market tanks some more. If Obama's actual plan is to destroy the American economy, he's off to a very good start. Obama is a clever politician (especially for those who are too thick to penetrate his obviously phony rhetoric), but I can't think of a dumber president from an economic standpoint. Obama is even scaring Democrats now with his insanity.

    FYI – When taxes are lower, people have more of their own money to spend, and businesses have more money left to grow and hire people. I know this is a difficult concept for liberals to master. I suggest the use of a calculator, or, if that isn't available, use your fingers and toes to count on. You'll see that I'm right.

  • rayy

    The Dow has been on a downtrend not since November, but since October–2007!! Or were you born Nov.1, Joe? In fact, 5/7ths (71%) of the losses came before Obama was even elected, and to be fair, he wasn't inaugurated until Jan. 21.

    Any part of that which is related to Obama is "noise"–stock holders may be frightened by some of the things being proposed, but does that mean we shouldn't do them? Do we want to manage the economy to the DJIA? No, obviously not. Besides, the downturn in the economy and the stock market are due to financial corporations making ridiculously bad bets, and losing huge, life-threatening (theirs) sums of money.

    Gingrich is clever, but he is a rat. He has his own interests and those of the moneyed classes who support him at heart. He's a good little shill.

  • The Reverend

    "Newt's plan actually would have a stimulative effect that would create jobs in the private sector."

    Newt's plan is more tax cuts for the wealthy. And all those tax cuts for the wealthy, under Bush, didn't stimulate anything.

    The government spending money, as they are about to do, WILL have a stimulative effect. I know you don't believe that, but that doesn't change the empirical data which demonstrates that it will.

    Wouldn't all the Gingrich tax cuts have to be offset by spending cuts? So then you would have smaller government, lower taxes for the wealthy….and our johnsons in our hands……because the wealthy would just do what they did last time, stash the money, hoard it….along with their other rich bounties.

  • averagejoe5

    No Ray I wasn't born on Nov 1, but I make much of my living trading. You need to look at the charts, and see where the major decline started. Sept 08 started the major decline when investors realized that Obama was probably going to win. Obama hates the rich,(except for his friends who are getting more cash from this plan than Cheney ever gave to Haliburton.) he hates everthing that elevates others to greater prosperity than their neighbor. He is losing the current investors traders and they are pulling their cash until they see what happens next. When alternative energy sources come into play aand the auto industry gets it stuff together, then investors will begin to invest in American companies. He is so negative about everything that people are going to pull and hold their cash. You would too.

    Rev, why do you only read the parts of the plan that you feel benefit your thoughts. I see good ideas all the way through. Gingriches plan does alot to help the middle class. Much more than the $15 per week Obama is giving them. You also tend to assume alot.

    To bad Obama doesn't want people to get rich and achieve the American dream, I love how just throwing the libs a blue bone makes them happy and content, even though the bone they get will be offset by increases elswhere. LOL

  • The Reverend

    Appreciate the comment, average.

    I disagree a bit with the Sept. 08 major decline date. I remember distinctly writing in August of 2007, based on the massive and extensive selling I'd seen that day, all day….that the recession would start March of 2008. The official date of the recession start was later deemed to be Dec. 2007.

    The retraction of the markets were in full swing long before Obama won the election. You are correct that the market began declining more rapidly in September, 2008…..but that was not because people knew Obama would win. It was because Bush-Paulson told us, rightfully, that the economic sky was falling.

    Just out of curiosity….what do you trade, average? Stocks, options, index funds? See opportunities now? P/E ratios down enough or should they go lower? Obama mentioned P/E's yesterday.

  • averagejoe5

    Rev I trade some stocks and commodities. My favorite is the foreign currency market. It is the highest risk but the most profitable, for me.

    Buy clean energy stocks. This is the next big boom that will pull us out of this recession if the govt lets them.

    Rev there are as many opinions on the subject as their are economists because so many things have caused this. It happens during almost every election where the current administration is leaving. I can tell you that the people that I talk to and the chat rooms that I get on blame alot of it because Obama is and was creating an air of uncertainty in the markets.

  • The Reverend

    Fair enough average. I'm with ya' on the clean energy stuff.

    Stock trading chat rooms are interesting, I used to read some of them.

    I'm not sure, though, that it's Obama's creation of an air of uncertainty, that's stirring a fuss. Traders are thinking 6 months in advance, and don't you think that they have known for quite awhile that the overall economy was tanking?

    Dow 6000….just up ahead.

  • averagejoe5

    It's not about the market tanking Rev. Many of the traders that I know are selling their positions short and are investing short term. The only ones I know right now that are holding long in the market are commodities and the big banks and in the forex and the healthy hedges. There are also some energy stocks that are holding and believe it or not some oil futures.

    Rev if you are into the markets, look at the how some of the economic indicators are actually getting better but the govt is holding back on these announcements. Why? To me it seems that some of the technical indicators are getting better while the sentiment and consumer confidence indicators are falling. A little tweaking of this economy and we could be back. In my opinion the psychology is holding us down. It wouldn't take a stimulus package full of pork to turn this around.

  • The Reverend

    You may be right. You just may be right.

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