Dear Mr. President,
You’ve been in the Oval office for nearly four years now. You’ve dealt with one of the worst economic times in our history. But the time has turned the tide against you in this coming election.
In 2008, Americans elected you to bring change that our nation was awaiting for. We, the people, liked you as you vowed to cut deficit in half by the end of your first term. After four years, our national deficit has gone up by whopping $4 billion per day since 2007. Every American owes over $50,000 in national debt. With over 27 million people without job, it’s starting to feel like 1992 all over again.
Mitt Romney can steal the slogan from Bill Clinton to win the White House — It’s the economy, stupid.
I just read in the local newspaper that — close to where I live — Jackson county has attracted Carter’s, the largest branded marketer of baby and young children’s apparel in the United States, to build a multichannel distribution center. It will invest $50 million and create 600 new full-time jobs. Carter selected this site partly due to the property tax abatement offered by the county.
It’s clear to me that to grow our economy, we need thousands of stories like this that I just read about in the local newspaper.
I am not one of the brightest minds you’ve been surrounded with. I don’t have a degree from an Ivy League school, but I am an astute student of life with plethora of common sense.
I can help you win this election, if you can campaign on my four point plan to grow our economy.
1. Create more jobs.
While both parties have offered rhetoric to create more jobs for Americans, neither has a bold idea that can jump-start our economy. As you know, backbone of any leading economy is its growing manufacturing sector. America led the world during the industrial revolution, but we’ve lost our competitive advantage to the rest of the world due to over regulations and anti-capitalistic policies.
An American automaker selling cars in Germany, for instance, has to pay corporate income taxes to both governments of Germany and the United States. An automaker in Germany selling cars in America only pays corporate taxes to America. Government of Germany has VAT(value-added tax) applicable only to cars sold in Germany. Naturally, our automakers and other fortune companies have not only built plants overseas, but also moved their headquarters to other countries. Americans have lost millions of jobs due to our tax policies.
2. Enact the fair tax plan.
“Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government.” — John F. Kennedy, Jan. 17, 1963, annual budget message to the Congress, fiscal year 1964
Our tax code has over complicated lives of hard-working Americans. The very reason that you’ve blamed big oil companies getting billions of dollars in tax breaks, reminds us that — for long time — politicians have used tax breaks to favor one or another industry at the cost of those who elected them into the office in the first place — we the people.
The fair tax plan can jump-start our economy by taking away billions of dollars giveaway to major corporations, and by allowing average American to keep all of his or her earnings. Entrepreneurs will invest and risk more capital in new businesses once you eradicate capital gains tax. Most of the jobs in America are created by these entrepreneurs who work hard and live by the very principles that our founders had envisioned. The fair tax plan can bring more revenue to the federal government with the national sales tax as more businesses will open doors in every corner of this great nation.
With no tax on capital and labor, most global companies will find good ole’ America to build their plants and hire millions of most productive workers in the world.
Your name will be immortalized in the pages of American history forever for the fastest job growth in the history of our nation, Mr. President!
3. Fix the housing problem.
What happened in 2008 was beyond any one leader to cope with. It was insurmountable economic disaster by any measure. The housing problem still is the biggest drag on our economy. With millions of unsold homes, financial plight to our economy is worst ever seen in the recent history.
I’ve a simple idea. Why not attract new breed of citizens who can occupy these homes and start moving the wheels of our economy again? People around the world crave to become citizen of this great nation called America. Why not offer conditional green card — to those skilled workers on H1-B or those foreigners with business visa — with the condition that they have to own one of those unsold homes valued at more than $100,000 with substantial down payment. Also, they will lose green card unless they can pay off the mortgage or own home at least for the life of the loan.
By the way, with the fair tax plan, every house will bring 22% sales tax revenue to the federal government coffers.
Mr. President, you can fix housing problem without intervening with federal help to this painful problem holding the growth of our economy.
4. Drill more oil onshore and offshore.
While I admire your bold ideas to promote alternate forms of energy to ease financial pain felt by my fellow Americans at the gas pump, let’s face it — most cars are still running on gasoline.
Our domestic oil industry can create 1.4 million new jobs, add over $800 billion tax revenue and — most importantly — help Americans save more on gasoline by adding 50% more supply. The key to fuel economy is to cut over regulations imposed on the oil industry. While environment is always important to all of us, threat to our national security and $4 per gallon gasoline price at the pump are more important factors on the minds of millions of Americans now.
I don’t have a silver bullet to fix the economic problem that has inflicted pain to so many of us for so long, but I am dumbfounded that we are trying to fix a problem of uncommon magnitude without thinking about common sense solutions.
My task over the last two years hasn’t just been to stop the bleeding. My task has also been to try to figure out how do we address some of the structural problems in the economy that have prevented more Googles from being created. — President Barack Obama
(Photo Courtesy: MyeyeSees)