STUPID IS WHAT STUPID DOES aka ARE OUR ‘LEADERS’ INSANE?

Neither President Obama’s nor the Republicans’ offerings for debt and deficit solutions appear to be anything but complete inane and infantile nonsense. Both schemes are so deleterious to our economy, my only response is, ‘You cannot be serious!’.

Assuming the Republicans’ plan is adopted, it would be national suicide, since cutting spending is cutting jobs. Our already weak economics would lose even more energy and we would be in an accelerating and downward spiral, rather than just in a terrible situation of economic erosion.

The Obama Administration’s concept is somewhat less than just inept. The centerpiece of the concept is the glaring Presidential malfeasance of signing the legislation on December 17, 2010, which continued the 2001 Bush tax legislation for those with taxable incomes in excess of $250,000 per year. Reversing that portion of the 2001 legislation should be just the starting point.

Now, in an effort at winning a popularity contest, I offer the following few ideas:

1. All government (municipal, state, and federal) salaries, retirements, and other benefits should be adjusted, significantly, in lieu of layoffs.
2. All minimum wages (federal and state) should be eliminated with a massive expansion of the EITC (earned income tax credit program) for citizens and those with green cards, who are over 17 years old.
3. A $4.00 per gallon additional federal excise tax, at the pump, with a tax credit of $2,400 per year for taxpayers who own an automobile, which is adequately insured.
4. There should be a permanent ‘federal income tax credit’ equal to 100% of the Social Security taxes paid on the first $60,000 of wages.

NOTE: Section 4 of the 14th Amendment to the U.S. Constitution states that the validity of the public debt, authorized by law, shall not be questioned.

Based upon that Section, anyone who purposes actions or votes in opposition of that stipulation may be in violation of his or her Oath of Office.

mz
July 26, 2011