THE WHOLE ENCHILADA

As I did for the health care crisis, I’d like to take this opportunity to summarize all the elements presented in prior rants that I’ve laid out as necessary for a full and enduring economic recovery:

1. Close the tax loopholes with a flat tax; consider a consumption component to derail tax-avoidance though the underground economy.

2.  Limit CEO salaries to reflect performance and prevent abuse equivalent to racketeering.

3.  Strictly regulate credit default swaps.

4.  Ban high-risk no-money-down mortgages.

5.  Close the loopholes in our anti-monopoly laws to prevent the “too big to fail” conundrum.

6.  Ease the capital gain tax to fuel the economy’s engine.

7.  Cut spending to at lease 2008 levels, preferably 2005. A balanced budget amendment would be nice; in the long term, essential.

8.   Start whittling down the size of the federal government; start with the Departments of Energy and Education.

9.  Rethink the role and function of the Federal Reserve.

10.  End defined benefits. We need to all share in our own risk.

11.  Reform Social Security and make is self-sustaining.

12.  Reform Medicare and make it self-sustaining; physicians need to look to cleaning our own house, as well.

13.  Find ways to limit outsourcing of jobs—a difficult task in a global economy with widely disparate standards of living.

14.  Encourage a resurgence of the values that made this country great. Values instilled by family, community, and religion such as self-sufficiency, work ethic, and charity.

15.  Encourage a resurgence of the values that made this country great. It’s worth mentioning this twice since corruption of values is at the core of every other problem, and no sustained relief will ever be attained without attention to this.

And that’s my 2 (15 in this inflated economy) cent’s worth.

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