Ok all you If I was... people...... How would you fix the economy? I know I will get some smarties here that will try to be funny
Fixing the Economy
- Thread starter Dave19642006
- Start date
To the cave in 3... 2... 1...
How to fix? Return TRUE capitalism and currently we are moving in reverse.
How to fix? Return TRUE capitalism and currently we are moving in reverse.
First and foremost, come to the conclusion that quick fixes are likely to do more damage than good in the long run.
You basically have to ensure that the pillars of the market are on a strong foundation and wait, IMO.
Cut corporate taxes to encourage investment. Stop subsidizing unsustainable energy (that means you, corn ethanol). Let the market figure itself out without a bunch of ineffective gov't meddling.
It'll take time and anyone who says otherwise is delusional or lying.
You basically have to ensure that the pillars of the market are on a strong foundation and wait, IMO.
Cut corporate taxes to encourage investment. Stop subsidizing unsustainable energy (that means you, corn ethanol). Let the market figure itself out without a bunch of ineffective gov't meddling.
It'll take time and anyone who says otherwise is delusional or lying.
Keep the government out of it. Tell people to get out of debt. Drill for oil in this country. Build coal power plants. Build a pipeline from Alaska for natural gas. Scale the governmet way back. Stop giving illegals a free ride on the goverment. Allow the strong companies to survive and the weak to fail or be baught.
Can't fix it.... very tough times are ahead. The only thing we can do now is try to help out and cushion the blow... I think thats all the Gov't is really trying to do. Only time can fix it, we are in the early states of a correction from an economy based on everybody spending money and accumulating debt that cant really all be repaid. This mess was caused by systemic greed at all levels, and I dont think there is any miracle fix for a systemic problem.
I wish I knew a fix, I'd be a rich man and ISU athletics would get a huge donation.:smile:
I wish I knew a fix, I'd be a rich man and ISU athletics would get a huge donation.:smile:
How is corn ethanol unsustainable? It can be grown every year. Oil is unsustainable.
Be honest with everyone. Say (and then do) the following: "We, as a people, and as a government, have been irresponsible in our spending habits for quite a long time now. It's unsustainable. We must reign in our government and balance our budgets. Begin to repay our debts. It will be very hard, but we cannot pass this problem onto our children and grandchildren, any more so than is already inevitable. Our social safety net must be contracted to cover those who cannot physically or mentally care for themselves. We will do what we can to ease the pain of the transition, but we will become a much wealthier and healthier nation in the future for it.
We must transform our tax code, enacting a tax program which is fair, transparent and incorruptible. We must reform the way our political structure operates, to return the power to the people, instead of lobbyists."
In short, we are going to start taking the Constitution seriously. Programs which conflict with it would be terminated and the power to run these would be returned either to the states, or to the people, wherever those rights belonged.
We must transform our tax code, enacting a tax program which is fair, transparent and incorruptible. We must reform the way our political structure operates, to return the power to the people, instead of lobbyists."
In short, we are going to start taking the Constitution seriously. Programs which conflict with it would be terminated and the power to run these would be returned either to the states, or to the people, wherever those rights belonged.
The economy has had rough times before and bounced back without govement help. Part of the problem this time is the last 15 years everytime the economy would hit a rough patch the goverment would step in and do something to "help" it and the Fed would lower intrest rates, and never raise them when times got good.
Because it's not profitable without government subsidies, especially when oil prices are low.
Even with gov't subsidies, ethanol plants are shuttering like it's going out of style at the moment.
It may be technically sustainable, but with oil prices low, it's not economically sustainable.
This is definitely true. Gov't certainly cannot fix the mess we are in, only hopefully help it from becoming a much worse mess. And obviously a huge part of the problem was loosening the regs on the banks, loans, etc. Too many shortsighted and greedy people, it all had to come down at some point.
A part of me would really like to just see us say screw the banks and let it all go to hell, it would satisfy a lot intellectual curiosity for me and probably be OK for me personally. Unfortunately that damn nagging conscience of mine gets in the way and makes it quite the hard call.
Basically I think there are a lot of things that can help a bit, but the overall correction of the economy that was based on people living on credit and debt and not saving any money is too strong a force for anything to really overcome except time... like several years.
I am seriously impressed with the respones in this thread. A lot of people have the right ideas as far as how things need to shake out. Maybe we should all vote each other for Congress in 2010.
Here are my thoughts:
1. If you are not going to bring back regulation for the banks then let them fail. We are doing the worst thing possible by throwing them money and rewarding them for their mistakes. Yet we see nothing positive of it.
When the banks were deregulated in the late 90s it set us up for what is happening. They proved to us they couldn't sustain themselves without a watchdog. So bring the dog back. If Congress won't do that, then let them fail and send the message that they need to do the right thing to succeed.
2. Let the economy hit bottom for once. Like another poster said, everytime that the economy has hit a rough patch the last 15-20 years the Government has been right there. We have been propping up an economy that needs to dip for too long.
First it was sweeping tax cuts, then more spending, then more spending on top of that. All it is doing is pushing the issues farther and farther back. We have to hit bottom to actually feel the bottom.
3. Provide incentives for innovation. Tax cuts, subsidies, etc. This seems to be the one area where Congress has it mostly right. Except they keep throwing money at corn ethanol. Or ethanol in general.
4. Rewrite the tax code. Simplify it. Make it easier for the average Joe to start a business and get on his feet.
5. Admit mistakes. Dear God, for once, just be honest with the people of this country.
#5 is a huge pipedream. So is #4 to a point. No one in Congress has that much initiative. One can dream though, right?
Here are my thoughts:
1. If you are not going to bring back regulation for the banks then let them fail. We are doing the worst thing possible by throwing them money and rewarding them for their mistakes. Yet we see nothing positive of it.
When the banks were deregulated in the late 90s it set us up for what is happening. They proved to us they couldn't sustain themselves without a watchdog. So bring the dog back. If Congress won't do that, then let them fail and send the message that they need to do the right thing to succeed.
2. Let the economy hit bottom for once. Like another poster said, everytime that the economy has hit a rough patch the last 15-20 years the Government has been right there. We have been propping up an economy that needs to dip for too long.
First it was sweeping tax cuts, then more spending, then more spending on top of that. All it is doing is pushing the issues farther and farther back. We have to hit bottom to actually feel the bottom.
3. Provide incentives for innovation. Tax cuts, subsidies, etc. This seems to be the one area where Congress has it mostly right. Except they keep throwing money at corn ethanol. Or ethanol in general.
4. Rewrite the tax code. Simplify it. Make it easier for the average Joe to start a business and get on his feet.
5. Admit mistakes. Dear God, for once, just be honest with the people of this country.
#5 is a huge pipedream. So is #4 to a point. No one in Congress has that much initiative. One can dream though, right?
