Saturday, August 23, 2008

It's the Economy Stupid ~ An Economic Recovery Program for America

It's the Economy Stupid ~ An Economic Recovery Program for America
by Lord Stirling & Monica Davis

Barack Obama's selection of Joe Biden as his running mate signals that Obama has made a strategic choice, not a tactical one. A tactical choice would have been Evan Bayh, who would have brought him Indiana's normally Republican eleven Electorial College votes. Instead Obama chose a bare-knuckle fighter with an Irishman's gift of gab. This is a choice that implies a strategy to fight hard and across the board for the American white middle class voters. It is also a choice that negates the advantage that McCain has on national security issues. Joe Biden has been in the Senate since 1972 and is Chairman of the important Senate Foreign Affairs Committee.

This sets the battle up for one over the economy. That is a battlefield that is custom made for the Democrats. The American middle class is running scared; already in the early stages of a recession with fears of an all out depression. The economy is a mess; the foreign debt and overall national debt that George Bush has accumulated in almost eight years of serious mismanagement of the nation's economy is staggering in the extreme. In fact, Bush has increased American national debt more that all other US presidents combined.

The American public, still paying almost unheard of prices at the gas pump and at the grocery store, and seeing retail prices rise almost weekly as their wages stay the same is in the mood for some serious change. However, what Obama must very clearly articulate is how his vision of change will effect them and their self interest.

One thing that I have observed over the last few years, and something that the corporate controlled mainstream news media has not give much coverage to, is that the average person in American is very aware that the overwhelming majority of American consumer goods are foreign made. This is a dramatic departure from the historic American self-identification as the world's manufacturing leader.

The Obama-Biden Team needs to simply and clearly spell out a plan for American economic recovery; one that will see American consumers supporting American jobs and strengthening the American economy by facilitating the purchasing of American made goods.

What we need is a plan that will create a competitive edge for American manufactured products without trigging a trade war with our global trading partners. The nation is in dire need of an economic strategy that will turn the power of Wall Street back to Main Street with investment in American manufacturing infrastructure and American jobs.

Taking a leaf out of FDR's economic recovery programs, we need a Economic Recovery Program Administration. An ERP Administration that will recreate the American manufacturing base via the following: (1) Retailers will get US income tax credits for ERP qualified 100% American made goods sold; (2) New ERP corporations and new ERP subsidiaries of existing corporations will be US corporate income tax free for five years; (3) Shareholders of ERP companies will pay no Federal income tax on corporate dividends for five years; (4) ERP qualified 100% American manufactured goods will earn 100% rebates on Federal gasoline taxes for shipping costs; (5) ERP tax breaks are contingent on non-dividend profits being reinvested in the United States; (6) State and local sales tax waver programs at the point of purchase of up to 5%, with US Treasury reimbursement to the states and localities of the waved sales tax, for newly created ERP qualified 100% American manufactured goods sold.


Jason said...

Without honest money, we cannot have an honest recovery... The dollar is doomed!

rotsamuck said...

If the system is based on an elitist banking system gaming the public, it is corrupt from the get go. No civilized society can exist without some kind of exchange system (i.e. money, wampum), but the extent of corruption in what we call our money supply, economy and banking system is beyond measure. M. Davis

Eamon said...

I see others have already pointed out the OBVIOUS - the Fed MUST be abolished, and a sound money system implemented. All other measures, without this, are POINTLESS.

pedrofru2 said...

If the World Trade Organization is in
the equation .....just expect manipulation,desperation and desolation.

PD; (not an English as the first
language spoken person)