Stumbled across this story and the title grabbed me straightaway & made me want to read it.
Think it makes a spot-on point that the fed's incessant meddling prolonged the great depression far longer than it should have been & now some 70+ years later they are making the exact same mistakes. Long as the Gov. is constantly changing the playing field then investors & business's are going to take a wait and see attitude before doing anything. Like hiring or infrastructure spending.
A good example of Gov. meddling causing uncertainty is the Oil industry. As of right now the offshore drilling ban has elapsed and do you see any of the Oil companies even attempting to get permits and start drilling? No and you won't, reason is they are waiting to see what Washington is going to do after the elections. They know that if McCain gets elected offshore drilling will mostly likely be allowed. They also know that if the messiah steals the election he'll have a veto proof majority in the both houses of congress they've already stated they will reinstate the offshore ban and this time make it permanent.
Best thing can be done is NOTHING. Well I take that back, a few things could be done & wouldn't cost taxpayers a freaking cent.
1. Cut the capital gains tax to zero for 6-12 months.
2. Get rid of the 1977 CRA act & undo the 1995 meddling that Clinton did to it.
3. American business are taxed the 2nd highest in the world. That has to change to bring more investments.
4. Repeal any regulations or red tape that in anyway could hinder a business's growth.
5. Get rid of the IRS & institute a flat/fair tax.
If only a few of those 5 would be put into effect think this would be the shortest lived recession/depression in history and if all were done we'd see a economic explosion that would make the 90's tech boom look like cold spit.
Think it makes a spot-on point that the fed's incessant meddling prolonged the great depression far longer than it should have been & now some 70+ years later they are making the exact same mistakes. Long as the Gov. is constantly changing the playing field then investors & business's are going to take a wait and see attitude before doing anything. Like hiring or infrastructure spending.
A good example of Gov. meddling causing uncertainty is the Oil industry. As of right now the offshore drilling ban has elapsed and do you see any of the Oil companies even attempting to get permits and start drilling? No and you won't, reason is they are waiting to see what Washington is going to do after the elections. They know that if McCain gets elected offshore drilling will mostly likely be allowed. They also know that if the messiah steals the election he'll have a veto proof majority in the both houses of congress they've already stated they will reinstate the offshore ban and this time make it permanent.
Best thing can be done is NOTHING. Well I take that back, a few things could be done & wouldn't cost taxpayers a freaking cent.
1. Cut the capital gains tax to zero for 6-12 months.
2. Get rid of the 1977 CRA act & undo the 1995 meddling that Clinton did to it.
3. American business are taxed the 2nd highest in the world. That has to change to bring more investments.
4. Repeal any regulations or red tape that in anyway could hinder a business's growth.
5. Get rid of the IRS & institute a flat/fair tax.
If only a few of those 5 would be put into effect think this would be the shortest lived recession/depression in history and if all were done we'd see a economic explosion that would make the 90's tech boom look like cold spit.
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