Numerous ways have been suggested to grow the economy by Republicans and others. They have fallen on deaf or uncaring ears.
Here are just three of many simple ways to jump-start the economy, create good jobs and put more tax dollars in the U.S. Treasury that could be used to reduce our enormous debt.
• Sign the go-ahead on the Keystone XL Pipeline.
• Lower the corporate tax rate from 35 percent to 25 percent, which would be still higher than most of the world. We are second-highest now.
• There are now billions of U.S. dollars in other countries around the world. They belong to American companies that have moved offshore to take advantage of lower corporate taxes, and less regulation and harassment from government in those countries. To bring that capital home to work in the United States, companies would have to pay an additional tax of 35 percent here. They are understandably not inclined to do that.
If the tax rate were to be reduced to, say, 7 percent on those specific repatriated funds, most would come home. The government would get 7 percent of a very large amount of money; companies would be less inclined to go overseas; plants would be built and jobs created here; and our American-made products would be more competitive on the world market.
All of this is just common sense – a commodity in very short supply in the White House. Do these things immediately and watch many good things happen. The Republicans in Congress would quickly approve and accommodate the president in passing the necessary legislation.
The only reason I have heard that the so-called “Progressives” might object is that it helps the “rich.” Yes it does – and everyone else, especially those who want to work and earn their way.
Work, capital and brains are what built this country and made it great. Please, let’s keep it going for those we love who are coming behind us.