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Thursday, September 23, 2010

GOP Pledge to America

From CBS news (link HERE), we have a Republican "Pledge to America", along with some of my thoughts [in red bold]:

- Stop job-killing tax hikes  
[And the revenue lost will be replaced by what? What about the tax incentives that encourage jobs to be shipped overseas?  Republicans like to claim that business taxes are simply passed on to consumers; well if we reduce taxes, can we then expect/demand that they will reduce costs or hire more people?  I'm not against lower taxes, but I am against blatant sloganeering.]
- Allow small businesses to take a tax deduction equal to 20 percent of their income
[And if that small business is run by a billionaire, they get it as well? By the way, adding such a tax deduction is yet another example of making our already too complex code even more complex.]
- Require congressional approval for any new federal regulation that would add to the deficit
[Agreed, as long as it applies to everything. Mark my words:  this is a double edged sword.]
- Repeal small business mandates in the new health care law.
[And replace it with what?  Making small business employees eligible for Medicaid?  Giving employees a tax credit to buy coverage?  That last question is a joke, because the credit may not be enough to buy coverage, will add to the deficit and increases the complexity of the tax code.  Republicans tend to like slogans, but also tend to dislike details.] 
Cutting Spending:
- Repeal and Replace health care
[With what?  "Free market" based solutions?  Note to file:  Health care by and large in this country operates in a non-competitive environment, so that will not work.  Repeal nothing until there is a better idea that a) Covers all, b) Actually reduces the rate of health care inflation/profiteering.]
- Roll back non-discretionary spending to 2008 levels before TARP and stimulus (will save $100 billion in first year alone)
[Agreed.  Let's not forget that it was a Republican that came up with TARP.]
- Establish strict budget caps to limit federal spending going forward
[Agreed, as long as it applies to everything.]
- Cancel all future TARP payments and reform Fannie Mae and Freddie Mac
[Nice thought, but how?  I agree that the government should be out of the bailout business, but it was a lack of proactive enforcement that ultimately created the need for TARP in the first place.  What to prevent this kind of thing in the future?  Then prevent the next AIG from happening.]
Reforming Congress:
- Will require that every bill have a citation of constitutional authority
[Fair enough.]
- Give members at least 3 days to read bills before a vote
- Provide resources to troops 
- Fund missile defense 
[How is this not a form of federal welfare to the defense industries?  Enough spending money on technology that will never be fully effective.  You think missile defense systems will protect your house?  Guess again.  This is technology that will never be fully effective.]
- Enforce sanctions in Iran
[Agreed, but let's also encourage moderate factions in  the government and society as well.]


J Curtis said...

You seem to agree with more points than disagree.

Stephen Albert said...

I'm pretty conservative when it comes to money...especially my own.