Libertarian Party's Prosperity Plan
Saturday, May 30, 2009
The Bush & Obama Administrations have brought us false stimulus and offensive bailouts. So, what is the Libertarian Party's alternative? Its' 3-point Prosperity Plan:
1) Repeal the income tax: Adopt legislation repealing the income tax and abolishing the Internal Revenue Service. Until the income tax is repealed, adopt legislation preserving the 2001 and 2003 tax cuts and enacting across-the-board income tax cuts.
2) Adopt the Balanced Budget Amendment: Adopt a constitutional amendment requiring the federal budget be balanced, and balanced exclusively by cutting expenditures, not by raising taxes.
3) Abolish corporate welfare and bailouts: Adopt federal legislation prohibiting any federal spending program that provides payments or unique benefits and advantages to specific companies or industries, terminating programs that provide direct grants to businesses, eliminating programs that provide research and other services for industries and ending programs that provide subsidized loans or insurance to businesses.
Taxes are a drain on productivity. Sure, some taxation is necessary in order to fund the proper functions of government, as enumerated in the Constitution. But, that's the limit, for the greater the tax burden, the greater the drain.
We keep hearing that cuts will be 'painful'. Painful? You mean, more painful than our disappearing purchasing power? More painful than having to work longer to keep more of the money you earn? If you have a job at all? Let's try that 'pain' that cuts are alleged to bring.
The bailouts are just wrong. Every parent knows that if you reward a child's naughty behavior, you get more of it. We know that bailing out businesses that make lousy decisions corrects nothing, it only encourages more bad decisions. So, why are we doing it? Ask a Republican or a Democrat.
Those two parties have proven their ineptitude. The more they do, the less prosperous we are.
Get involved. Become a Libertarian candidate. Support Libertarian candidates. Only then will you get real change, and better than that, real prosperity.
Labels: bailouts, Libertarian Party, Prosperity Plan, stimulus, tax cut, taxes
posted by Mike Kole @ 11:32 AM,
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One Candidate Was Against The Bailout
Tuesday, September 30, 2008
Yes, that was Bob Barr. He was consistently against any bailout, from the onset.
Bad decision making must not be subsidized. Barr has the right solution: Prosecute those engaged in fraudulent lending, and privatize Fannie Mae & Freddie Mac.
posted by Mike Kole @ 5:05 PM,
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President Barr Would Veto This
Monday, July 28, 2008
The bailout of Fannie Mae and Freddie Mac appears set to happen. What does it mean to every taxpayer in the US and their share of the national debt? About another $1,300.
The bill passed the House of Representatives and will be taken up in the Senate and once through that pork factory, President Bush has said he will sign it. If I were your President I would veto it so fast, heads would spin.
The bill - and that’s exactly what it is - is a bill you are going to be expected to pay! It’s for an estimated $400,000,000. That is, of course, $400 Million that we don’t have, so more borrowing is ahead. Your share of this expense? About $1,300.
And that’s on top of the more than $31,000 you already owe!
McCain and Obama have tip-toed around this. Barr is plain: No bailout for failed lenders!
Link to full Barr statement.
Labels: bailouts, Bob Barr, Fannie Mae, Freddie Mac
posted by Mike Kole @ 9:32 AM,
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Bob Barr Says Privatize Fannie Mae & Freddie Mac
Wednesday, July 16, 2008
Bob Barr isn't talking about bailing out bad decisions, like some other candidates are. He's talking about ending a disaster:
Oklahoma City, OK -- The latest financial crisis involving Fannie Mae and Freddie Mac, which guarantee home mortgages, demonstrates yet again how government intervention in private markets almost always comes to grief. Both Fannie Mae and Freddie Mac are nominally private, but were created by Congress and enjoy significant advantages over truly private companies, including cheaper borrowing, lower capital requirements, and an implicit federal guarantee.Link to Barr's full statement on Fannie Mae & Freddie Mac.
As a result, the two organizations behaved irresponsibly, confident that they were “too big to fail.” They own $5.1 trillion in mortgage debt, almost half of the nation’s total. With the sub-prime lending crisis in full swing, their losses are up, their capital is down, and their ability to borrow is falling. Immediate privatization is difficult because the markets doubt the organizations can survive without government support. Insolvency and a forced asset sale would roil both the housing and financial
markets.
These problems are almost entirely the fault of the federal government. Congress created programs to artificially inflate the housing market, established Fannie Mae and Freddie Mac to be exempt from normal scrutiny, oversight, and competition, and expanded their activities in response to the sub-prime lending meltdown. Government must get out of the mortgage business, but must do so in a way that least harms taxpayers and the economy.
Update: McCain & Obama campaigns have ties to Fannie Mae & freddie Mac. That could explain their interest in bailouts.
Labels: bailouts, Bob Barr, Fannie Mae, Freddie Mac
posted by Mike Kole @ 9:42 PM,
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