America Can Only Work if Americans Are
For the first time in 26 years, we have
reached 10% unemployment. In fact, we’ve surpassed it. Back in June the Federal Reserve
predicted that it would likely take 5 years before we are
creating a substantial number of net new jobs. That could mean 9-10% unemployment for the next
We have a severe jobs crisis in America. If we are to get back on the right track in
America, we must concentrate on Jobs First.
Presidents Bush and Obama tried to fix our economy through bailouts of big companies and
big government stimulus packages. This approach has failed.
We must propose a plan for job creation aimed specifically at those who create jobs – small
businesses and entrepreneurs.
A Jobs First Approach: 3 Key Steps We Can Take Right Now
- 1. Reduce Spending and Reform Government to Achieve a Balanced Budget.
While Newt Gingrich was Speaker, federal spending rose by an average of 2.9% per year, the
lowest increase since the 1920s. We can apply the same principles that worked from 1995 to
1998 to create jobs and four straight balanced budgets through smaller government, less
spending, lower interest rates, and less debt.
- 2. Five Tax Reforms to Reward Job Creation, Entrepreneurship, Savings, and
a. Immediate Payroll Tax Relief. Allow workers and employers to keep
more of their hard earned money through an immediate, two-year, 50% reduction of the payroll
tax. This step would immediately boost the take home pay of every worker, and dramatically
free up cash for every employer to hire and invest. This tax relief could be paid for with
unspent TARP and stimulus money. (Calculate how much money you would save).
b. Incentives for Small Business Investment. Allow small businesses to expense
100% of new equipment purchases each year to help them invest in new, more productive
c. Abolish Taxes on Capital Gains. Match the Chinese capital gains rate of zero.
Federal Reserve Chairman Alan Greenspan testified in the 1990s that this was the best rate for
d. Reduce the Business Tax Rate. America has the second highest business tax
rate in the world. We should match the Irish business tax rate of 12.5%. Combined with a zero
rate of taxation on capital gains, America would become the most desirable country in the world
in which to invest and start a business.
e. Abolish the Death Tax. Inheritance is the most powerful accumulator of
capital. Studies show that eliminating the death tax would create hundreds of thousands
of new jobs.
- 3. American Energy Plan to Create American Jobs and Keep American Money at
Developing more American energy while protecting the environment would mean the creation
of millions of new American jobs and the generation of billions of dollars in new federal
tax revenues, largely without the need for any new federal spending.
- More Oil and Natural Gas
- Shale Development
- More Nuclear
- Less Frivolous Litigation
- More Science for Alternatives
- More Prizes for Breakthroughs
- 21st Century Electric Grid
- More Clean Coal Projects
- Incentives, Not Taxes
By Adam Waldeck
Visit American Solutions Website.
These steps can be achieved only after ridding ourselves of the present liberal Congress.
In the Senate, the Republicans are likely to hold all their vacant seats with the possible
exception of New Hampshire. Incumbent Democrats Dodd (Ct), Specter (Pa), Lincoln (Ark),
Reid (Nev), and Bennett (Col) are the low hanging fruit. Among the open seats, Delaware
seems ripe for the Republicans. Add to these six seats, two more if Rudy Giuliani
challenges Kristin Gillibrand in New York and if North Dakota governor Hoeven takes on Dorgan.
Mark Kirk could be the ninth pickup in Illinois. And, in a Republican sweep,
you have to respect GOP chances in California and New Jersey.
Let’s do our part and vote the incumbents OUT!