I understand that the GOP may not wanted a public backlash of raising taxes on the middle class. But the increased revenue raising without any significant spending reduction will be harmful to the US economy in the long run. And I still believe that raising taxes on those who employ is a bad idea as well. Fine.
But come the debt ceiling the GOP should starting to manage and frame the conversation in terms of a bloated government with out of control spending and that the debt limit is there to limit too much borrowing by the government and thus should not be tampered with. They don't even have to bring anything to the floor for a vote. Just let the debt limit be applied.
Showing posts with label Fiscal Policy. Show all posts
Showing posts with label Fiscal Policy. Show all posts
20130103
20090413
Tax Day Cometh
I did my taxes yesterday. Two days from now will be tax day, and many will turn out that day for a Tea Party protest. Here is a great summary of what taxes should be like from Bookworm Room:
Principles of Sound Tax Policy
¨ Simplicity. Administrative costs are a loss to society, and complicated taxation undermines voluntary compliance by creating incentives to shelter and disguise income.
¨ Transparency. Tax legislation should be based on sound legislative procedures and careful analysis. A good tax system requires informed taxpayers who understand how tax assessment, collection, and compliance works. There should be open hearings and revenue estimates should be fully explained and replicable.
¨ Neutrality. The fewer economic decisions that are made for tax reasons, the better. The primary purpose of taxes is to raise needed revenue, not to micromanage the economy. The tax system should not favor certain industries, activities, or products.
¨ Stability. When tax laws are in constant flux, long-range financial planning is difficult. Lawmakers should avoid enacting temporary tax laws, including tax holidays and amnesties.
¨ No Retroactivity. As a corollary to the principle of stability, taxpayers should rely with confidence on the law as it exists when contracts are signed and transactions made.
¨ Broad Bases and Low Rate. As a corollary to the principle of neutrality, lawmakers should avoid enacting targeted deductions, credits and exclusions. If such tax preferences are few, substantial revenue can be raised with low tax rates. Broad-based taxes can also produce relatively stable tax revenues from year to year.
20090209
Economic Stimulus: Work vs. Job
This exchange between Steele & Stephanopoulos highlights something that has been adequately addressed by the media's discussion regarding Obama-Democrat's "stimulus/pork package."
When the government spends money on short term projects, such as construction, work is created but not jobs. A job is something is stead work, something you can go to the bank with and use to get credit for a house or a car. A work is a temporary arrangement where you get paid for a limited duration, whether it be picking crops in the field or building a bridge. Any stimulus spending should keep this difference in mind.
The more I think about it, the less it make sense for the Government to spend money as a stimulus. Firstly, it takes money from taxes to spend, and in the process serves as the middle men. Be certain that the money it collects and the money doled out is not one for one. Secondly, the Government consistently acts in the short term, without sufficient thought to long term consequences. The government emphasis on works rather than jobs is a clear example of this. Thirdly, the taxpayer is in a much better position through his or her interaction with out capitalistic economy to direct spending dollars to what he, she, and the community needs as a whole. Fourthly, the increased in government spending for any stimulus package will only drive the deficit up, further limiting the availability of credits to the economy while increasing foreign ownership of our economy.
As such, the government stimulus should primarily be in the form of tax cuts. This will also have the added benefit of forcing the government to trim its budget. The primary spending of the government should be directed toward national defense.
The only stimulus spending at this point that makes sense to me are grants for research (both scientific, industrial and economic) that will lay the foundation for further discoveries.
HT: Right Wing Sparkle
When the government spends money on short term projects, such as construction, work is created but not jobs. A job is something is stead work, something you can go to the bank with and use to get credit for a house or a car. A work is a temporary arrangement where you get paid for a limited duration, whether it be picking crops in the field or building a bridge. Any stimulus spending should keep this difference in mind.
The more I think about it, the less it make sense for the Government to spend money as a stimulus. Firstly, it takes money from taxes to spend, and in the process serves as the middle men. Be certain that the money it collects and the money doled out is not one for one. Secondly, the Government consistently acts in the short term, without sufficient thought to long term consequences. The government emphasis on works rather than jobs is a clear example of this. Thirdly, the taxpayer is in a much better position through his or her interaction with out capitalistic economy to direct spending dollars to what he, she, and the community needs as a whole. Fourthly, the increased in government spending for any stimulus package will only drive the deficit up, further limiting the availability of credits to the economy while increasing foreign ownership of our economy.
As such, the government stimulus should primarily be in the form of tax cuts. This will also have the added benefit of forcing the government to trim its budget. The primary spending of the government should be directed toward national defense.
The only stimulus spending at this point that makes sense to me are grants for research (both scientific, industrial and economic) that will lay the foundation for further discoveries.
HT: Right Wing Sparkle
20081222
Automaker Bailout
W is using the TARP moneys to bailout the auto industry. It would have been best if no bailout occurs at all. Second best would have been restructuring ala bankruptcy as a precondition for a bailout. But using the TARP at least means no additional new money is being spent by the feds during the whole economic crisis.
20081111
Political Party & Elections
With the recent 2008 election losses, some commenter have suggested that the Republican Party become more centrist in order to win. I think this misses the point of political parties in general. If the goal of any political party is to win election, then it is only about empowering some to lead others. Shouldn't we be primarily concerned about where we are being led to? It has to be about ideology first.
And if the party's ideology is in tune with the center, then how can any candidate from that party even possibly be leading rather than just manage the status quo once elected. Now if the status quo is great, then we may not want to expend the effort to make things better. But i assure you that things can be better. And once the premise that things can be better, then you have to ask how can you enact policies to change and make things better. And as soon as you do so, then you are proposing non-centrist ideas.
The goal then of any party is to suggest actionable plan that appeals to the center, to be adopted by the center, to make the party ideals mainstream. When this occur, it is not the party becoming more mainstream, it is actually the center being shifted toward the party's ideology. Thus in order for a party to be successful, it must have non-mainstream non-centrist ideas. However, if the party actionable plan is too extreme, then it will not appeal to the center. Society adopt changes very slowly.
In a previous post i suggested some principles the Republican party should adhere to, cultivate, and build upon.
These may not be new ideas, but they are great ideas have made our nation great and should continue to guide our nation forward. These ideas continue to appeal and resonate with most Americans. Thus the solution for the Republican party to win elections is not to become more centrist. Rather, it is for the Republicans to offer and deliver meaningful changes and improvement to America that remain congruous to these principles.
And if the party's ideology is in tune with the center, then how can any candidate from that party even possibly be leading rather than just manage the status quo once elected. Now if the status quo is great, then we may not want to expend the effort to make things better. But i assure you that things can be better. And once the premise that things can be better, then you have to ask how can you enact policies to change and make things better. And as soon as you do so, then you are proposing non-centrist ideas.
The goal then of any party is to suggest actionable plan that appeals to the center, to be adopted by the center, to make the party ideals mainstream. When this occur, it is not the party becoming more mainstream, it is actually the center being shifted toward the party's ideology. Thus in order for a party to be successful, it must have non-mainstream non-centrist ideas. However, if the party actionable plan is too extreme, then it will not appeal to the center. Society adopt changes very slowly.
In a previous post i suggested some principles the Republican party should adhere to, cultivate, and build upon.
Strong National Defense
Small Government in Society
Conservative Fiscal Policy
Fair Economic Opportunity
Culture of Personal Responsibility
Traditional Family Value
These may not be new ideas, but they are great ideas have made our nation great and should continue to guide our nation forward. These ideas continue to appeal and resonate with most Americans. Thus the solution for the Republican party to win elections is not to become more centrist. Rather, it is for the Republicans to offer and deliver meaningful changes and improvement to America that remain congruous to these principles.
20081108
My Political Party
As part of my on going “back to the blackboard” rethinking of everything (political), I want to work out some ideas on what and how I want my political party to work. When I say “my” what I mean is the party I want to be a part of rather than having my own political party.
Firstly, I want to know what are our core principles. I want these principles enshrined in the party's charter or its constitution. The principles that matter to me, and ones that I also believe to have broad appeals are:
These may not be new ideas, but they are great ideas have made our nation great and should continue to guide our nation forward. The current issues and challenges should always be considered, referenced and debated on these core principles. While these should be our principles, our actions should remain decisive, ethical and magnanimous. Our means must be compatible with our goals.
Secondly our spending priorities should be:
Thirdly I would like the party to interact more with its members. The party cannot be just about fund raising and votes. I would like to see that every year (or every other year) a convention is held for party members. During this convention current stance in response to current issues and challenges should be addressed. Proponents and opponents should debate where and how the party should respond. Then the members (those present and over the net) votes and thus party positions delineated and updated. Politicians can also make announcement for the upcoming year.
Fourthly political candidates for the party should be judged based on how close they are to the core principles of the party. Their appeals are determined through a series of state level election. The states should be grouped regionally; one state from each region would then hold its primary election each month. Allow a few weeks for the candidates to debate, retool, hold rallies, and then repeat with a new set of states, again one from each region. The states within each regional group can decide among themselves what order they shall hold their primary election. Likely I would prefer that each primary election is limited to party members but at the same time, each primary election should also serve as recruiting opportunity for non-members to join up and thus vote.
What I do not want my party to be a hateful opposition party. When they other party cannot do something, we should take no glee if the America would suffer for it, we should say we can do it. When they do something right, we don’t say that it was no good, we say we can do better. I also do not want my party to be into identity politics. We should court Hispanics because they share many of our principles of small government, conservative fiscal policy, and economic opportunity. We should reach out to African-Americans because only through returning to traditional family value, accepting a culture of personal responsibility, and embracing economic opportunity can they be strong and free. We should stop bashing gays. We should be pro-immigration and come up with a new term for “illegal immigrants.” We cannot be viewed as an anti-minority or anti-immigrant party.
The funny thing is that I have never truly identified myself as a Republican until this election. I voted for W and have been fairly happy with him (I am primarily a Strong National Defense guy) and since he won, I could remain an independent. I was never really all that into McCain until Palin. Now that the Democrats are in power I figure the best way get them out of power is to throw my lot in, for now at least, with the Republicans. And if the Republicans do not offer me participation other than my vote, then I will still judge each candidate based on my party platform and vote appropriately.
Firstly, I want to know what are our core principles. I want these principles enshrined in the party's charter or its constitution. The principles that matter to me, and ones that I also believe to have broad appeals are:
Strong National Defense
Small Government in Society
Conservative Fiscal Policy
Fair Economic Opportunity
Culture of Personal Responsibility
Traditional Family Value
These may not be new ideas, but they are great ideas have made our nation great and should continue to guide our nation forward. The current issues and challenges should always be considered, referenced and debated on these core principles. While these should be our principles, our actions should remain decisive, ethical and magnanimous. Our means must be compatible with our goals.
Secondly our spending priorities should be:
1. Fund our party organization and groups on all college campus. They will be the future of the party. Even if they don’t, an educated voter is much preferred over an ignorant one.
2. Develop a 50 states effort. If we give up states like California, Washington, and New York we will never win.
3. Fund election campaign. How much funding support should consider the candidate compatibility with party principles, appeal to party members, and electability.
4. Fund charity projects. Our ultimate goal through politics is a stronger and better America, but crisis will develop that will transcend politics. We have to demonstrate we care for more than political power.
5. Fund research projects. We need proof that our principles as applied to the issues are actionable, effective and beneficial.
Thirdly I would like the party to interact more with its members. The party cannot be just about fund raising and votes. I would like to see that every year (or every other year) a convention is held for party members. During this convention current stance in response to current issues and challenges should be addressed. Proponents and opponents should debate where and how the party should respond. Then the members (those present and over the net) votes and thus party positions delineated and updated. Politicians can also make announcement for the upcoming year.
Fourthly political candidates for the party should be judged based on how close they are to the core principles of the party. Their appeals are determined through a series of state level election. The states should be grouped regionally; one state from each region would then hold its primary election each month. Allow a few weeks for the candidates to debate, retool, hold rallies, and then repeat with a new set of states, again one from each region. The states within each regional group can decide among themselves what order they shall hold their primary election. Likely I would prefer that each primary election is limited to party members but at the same time, each primary election should also serve as recruiting opportunity for non-members to join up and thus vote.
What I do not want my party to be a hateful opposition party. When they other party cannot do something, we should take no glee if the America would suffer for it, we should say we can do it. When they do something right, we don’t say that it was no good, we say we can do better. I also do not want my party to be into identity politics. We should court Hispanics because they share many of our principles of small government, conservative fiscal policy, and economic opportunity. We should reach out to African-Americans because only through returning to traditional family value, accepting a culture of personal responsibility, and embracing economic opportunity can they be strong and free. We should stop bashing gays. We should be pro-immigration and come up with a new term for “illegal immigrants.” We cannot be viewed as an anti-minority or anti-immigrant party.
The funny thing is that I have never truly identified myself as a Republican until this election. I voted for W and have been fairly happy with him (I am primarily a Strong National Defense guy) and since he won, I could remain an independent. I was never really all that into McCain until Palin. Now that the Democrats are in power I figure the best way get them out of power is to throw my lot in, for now at least, with the Republicans. And if the Republicans do not offer me participation other than my vote, then I will still judge each candidate based on my party platform and vote appropriately.
20081105
Conservatives & Republicans
Conservatives and Republicans are not synonymous. The contentious line between the two will only be highlighted with this election losses. There has been consideration for Republicans to build a bigger tent to get more independent voters. Conservatives have considered moving to form their own party that better represent their thoughts. And then there are the Libertarians, with many similar ideologies.
I believe the Republicans should continue to be a political machinery to elect candidates. I believe the Republicans should be a party of strong national defense, sound fiscal policies, small government, personal responsibility, economic opportunity, and family value.
I believe if people can identify personally with 3 or 4 of these six platform, then they should be welcomed into the party, as long as there will not be compromises on the other 2 or 3 platforms. Then we can have that big tent without driving away conservatives or independents. I do not believe there needs to be or should be a split between Conservatives and Republicans. I also believe that it would be a good thing for the Republican Party and conservatives to continue to have some differences of opinion as a contest of ideas can only make both stronger.
I believe the party should also reach out to Libertarians for similar reasons.
I believe the Republicans should continue to be a political machinery to elect candidates. I believe the Republicans should be a party of strong national defense, sound fiscal policies, small government, personal responsibility, economic opportunity, and family value.
I believe if people can identify personally with 3 or 4 of these six platform, then they should be welcomed into the party, as long as there will not be compromises on the other 2 or 3 platforms. Then we can have that big tent without driving away conservatives or independents. I do not believe there needs to be or should be a split between Conservatives and Republicans. I also believe that it would be a good thing for the Republican Party and conservatives to continue to have some differences of opinion as a contest of ideas can only make both stronger.
I believe the party should also reach out to Libertarians for similar reasons.
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