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Reader Comment of the Week

Published 07/03/09 Guest Comments - Print Article
E-mail - editor@economyincisis.org

Editor's Note: The following is a reader's comment. Reader's comments may not reflect the views or opinions of EconomyInCrisis.org. Further feedback is welcomed and may be featured as a future reader comment of the week.

There is no need for more taxpayer bailouts and economic stimulus spending, if politicians would do the following:

First, repeal all sales taxes and replace the lost revenue with an import tax/tariff on imported labor and manufactured goods.

Second, repeal all local tax incentives that shift business costs to taxpayers and that create poverty wage jobs; or change these incentives to pay a living wage, minimum wage of $14/hour (parent with one child).

Third, re-regulate banks and financial corporations.

Fourth, enact a windfall profits tax on oil and gas companies; but, rebate this money through tax incentives for drilling and building refineries (including ethanol ones in other countries) as well as eliminating the $.54/gallon import tax on sugar cane ethanol. This strategy will slow these companies from using excess profits to enrich executives and to buy company stock.

Fifth, increase taxes on fuel guzzling vehicles, wealthy individuals and corporations (eliminating corporate welfare and tax loopholes) to pay for the Wall Street bailout, the Iraq war and to pump more oil in Iraq for export.

These strategies will lower the $11 TRILLION taxpayer debt leading to a stronger dollar that will reduce inflation and increase the number of good paying jobs with benefits for American citizens.

Click here to contact your Representative in Congress.

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