Newt Offers Common Sense Approach

Consensus is spreading that the Obama-Pelosi-Reid stimulus is a complete failure. Now is the time for conservatives to offer an alternative plan–one that might actually work to bring real HOPE to the millions of Americans who are unemployed thanks to Obama’s scheme to CHANGE the USA into a socialist republic. Newt Gingrinch has some suggestions that look promising and could lead to enough of a financial edge that those in Congress with guts could demand that taxes be cut and our ailing economy given a genuine stimulus. Here they are:
1. Capture as much of the TARP money as remains unexpended;
2. Carefully go through the uncommitted portion of the $787 billion politician pay off bill from February and set aside $300 billion to $400 billion to pay for the tax cuts.
3. Incorporate into the bill offshore drilling and other pro energy measures. These would be accurately scored as revenue raisers through more development and from the economic reflow in higher tax revenue through keeping the energy money at home instead of sending it overseas.
4. Sell the private sector assets the government has unwisely acquired during the last year. The economy will grow faster without the threat of government controlled, bureaucratically supervised and politician defined companies. Whatever the value of the government stake in the various companies, put them on the auction block and get them back into the market. This will yield billions in revenue.
5. Have a one time recapture of frozen corporate assets currently held offshore with a one or two year window for returning them to the United States. This has been estimated to produce a substantial amount of revenue for the government.
6. Have a six month amnesty for back taxes to generate voluntary self policing. When tried at the state level this has produced significant resources.
7. The bigger economy with more jobs will take people off of unemployment and off of welfare and will reduce the dependence on Medicaid and other government programs. The resultant drop in the cost of government will be a significant drop in government expenditures offsetting a significant part of the short term revenue loss through the tax cuts (this was our experience in the late 1990s and in this down economy it would be even more true).

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July 15, 2009 · Filed Under General Politics


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