Randy's Blog

RSS Feed
Economic Freedom
Posted by Randy | June 10, 2010

Many in Washington promised Americans that government spending in the so-called “stimulus” package would put Americans back to work and get the economy going again.  Yet, unemployment still remains near 10%, and implementation of the stimulus has been characterized by delays, fraud, and poor management.  

The trillion-dollar-plus government stimulus programs and taxpayer-funded bailouts have failed.  A growing private sector economy is the only “stimulus program” that will create the jobs needed to restore America’s economic strength.

It’s time for real solutions to America’s fiscal crisis, which is why I am cosponsoring the Economic Freedom Act, H.R. 5029.  This legislation would:

  • Terminate the TARP program,
  • Repeal the remaining “stimulus” spending,
  • Reduce the payroll tax in half for 2010, increasing workers’ paychecks and improving the bottom line for employers which leads to job creation,
  • Eliminate the death tax, ensuring that small businesses and family farms will continue creating jobs for future generations
  • Eliminate the capital gains tax, which would encourage the risk-taking and investment that is at the heart of the entrepreneurial spirit, and
  • Reduce the corporate tax rate to 12.5%, improving America’s competitiveness in the global market and providing incentives for expansion and job creation.

This comprehensive approach will help to restore economic freedom in the United States and put our country on the path to a brighter future. 

 
Comments
The opinions expressed below are those of their respective authors and do not necessarily represent those of this office.
  • Larry Saffioti commented on 6/11/2010
    Everyone needs to read Arthus Laffer's article from June 6, 2010 in the WSJ Op/Ed page about the implications of not doing the things Randy Forbes enumerates in this blog. We are looking at an economic abyss if we continue the path we are on with President Obama's agenda!
  • Mark Cernak commented on 6/11/2010
    Arthus Laffer was the economic advisor for President Reagan and once the President received a presentation from Laffer the Presidnet took it and ran with it and the rest was history! Laffer is the creator of Supply Side economics of which a major componet was cutting taxes which caused increased economic activity and increased tax revenue to the government! It is a concept that the Demorats can not comprehend to this day even though Presidnet Kennedy did it too! Presidnet Obama now wants to use stimulus” spending to give teachers raises and save their jobs and if there was a place to cut jobs it is in Education. But again he is just using this slush fund to provide for his and demorats polictcal base! I guess this is OK if you are on the Obama team .
  • Andrew Fowler commented on 6/18/2010
    I agree with Mark. Stabilizing the dollar(tightening money) through stabilizing gold, raising the fed rate, ect. is the other piece of the supply side solution. The supply side solution is 100% effective at correcting a recession. The supply side solution was applied to the worst economic recession in American history, the recession of 1919. The roaring 20's followed and the effect was immediate. This is just one example but Kennedy and Reagan used it as well.
  • Andrew Fowler commented on 6/18/2010
    I agree with Mark. Stabilizing the dollar(tightening money) through stabilizing gold, raising the fed rate, ect. is the other piece of the supply side solution. The supply side solution is 100% effective at correcting a recession. The supply side solution was applied to the worst economic recession in American history, the recession of 1919. The roaring 20's followed and the effect was immediate. This is just one example but Kennedy and Reagan used it as well.
  • Jeffrey Austin commented on 8/24/2010
    I propose a 1 trillion dollar Infrastructure Repair Bill. Now, the money can be used only to repair roads, bridges, water treatment facilities, airports, fresh and sewer water pipes, etc. Only raw materials from American sources can be used under this bill. If American sourced materials can't be found then and only then can Canadian and Mexican sources be used. No sources outside of North America. All construction employees must be US citizens, naturalized citizens or documented aliens. Now, this bill will be paid for by a few simple facts. First, companies that are selling goods and services pay taxes. Second, working people pay taxes. Third, it greatly boosts the productivity of the US thereby increasing the income for companies and then their employees. Increasing tax revenue for all levels of government.
Post a Comment
We encourage you to analyze and comment on the posts featured on this blog, but please understand that comments including inappropriate language or personal attacks will be removed from the site. Please note that there may be a brief delay in the publication of your comment. Users are solely responsible for the opinions they post here and their comments do not necessarily reflect the views of Congressman Forbes.



Services

Other Services

Issues

More Issues