How can America regain its economic superpower status?

With the economy flat on its back, unemployment at a 40-year high, and the housing default crisis still worsening because of President Joe Biden; is it even possible to turn our financial problems around? The last time inflation was this high was when Jimmy Carter was president.

Good political economics is neither left wing nor right wing; it’s not liberal or conservative; and for goodness sakes, it’s not Republican or Democrat; it’s just plain, straightforward economics cover a broad spectrum of views and widely diverse fields.

The politicians are still running around grabbing at straw, trying to save the economy. Hillary Clinton said that it’s the government that creates jobs. President Reagan said, “The government is not the solution to the problems; they are the problems.” To fix the economy, the government needs a businessman as president not a career politicians. When anyone tells you that the government has a solution to the economic problems, we should be very scared.

The best solution to make government work for the people and institute good economic policy is really straightforward and so obvious. As President Kennedy said, “Ask not what the government can do for you, ask what you can do for the government.” Politicians should be put on commission just like the rest of us. If they do a good job they should be paid a lot, and if they do a bad job they either should not be paid at all or they should be fired. When the government was shut down because the Democrats were crying because they couldn’t get their way, those in Congress and the Senate shouldn’t get paid. Why should the working class not get paid; while our Congressman and Senators continue getting paid? Our Congress and Senate are government workers as well. They works for the American people. We don’t work for them. We have the power to hire or fire them as we sees fit.

Those in Congress and Senate should not be allowed to place earmarks on legislation. They should not be allowed to get the perks they are getting such as inside trading. They should get the same healthcare as the American people. It will eliminate these lifers in Washington.

The President should be granted the authority for a line item vote that would require a 60% vote in the Senate to override.

To ensure a stable dollar, the Federal Reserve should operate on a price rule whereby reserves should be added to the banking system when prices are under downward pressure and should be taken out of the banking system when prices face upward pressure.

The United States is the world’s third largest producer of oil. Can you imagine what the economy would look like today if President Obama were to successfully stop the importation of oil? The U.S. economy would be in even worse shape than it already is. Why should the United States be dependent on Foreign oil and have to deal with terrorism? We should be in more control of our resources like President Trump wanting to do. We should be more independence rather than depend on other countries.

The leaders of the oil-producing countries are really just one step removed from being declared enemies of the United States. If embargoes caused people to rethink their politics and see the light, then North Korea 60 years ago would have become a free market, progrowth, democratic, capitalist nation. Trade embargoes and sanctions are not good political tools, no matter what the government may tell you. The president can bring public attention to bad behavior in order to sway public opinion to get a foreign leader to see the error of their ways. They could used this on Putin after Russia invaded Ukraine and stop that war. It could shows China that the United States is not to be messed with.

The Left will have you believe that we’re facing a global warming crisis. When in fact, man is the primary cause of global warming. Cap and trade forces the price of carbon emissions higher but without correcting for the negative impact on the long term growth rate. Due to government mandate, companies and individuals would be holding an asset with market value. The government should not expropriate assets without paying proper compensation.

Nuclear-generated power is a proven, environmentally friendly way of producing clean energy that does a great job for virtually every objectives you can think of.

If more production and employment is what is wanted, then reduce taxes on employment and reduce taxes on production. That’s how to create prosperity!! If taxes are low, wages will go up, more people will buy the products and services.

A sure sign that the people who run government don’t understand basic economics is when they take employment data as an actual measure of prosperity rather than as a proxy for prosperity. Working is the price society has to pay in order to be able to consume the goods and services society wants. When consumption and employment are confused by politicians, all sorts of mischievous consequences result. Employers were also encouraged to pay workers higher wages than the markets would dictate because those workers would then buy more and stimulate the economy. The government should not be in the business of supporting any one specific industry, whether that industry be housing, autos, insurance, or anything else. The reason why healthcare is so high is because our Congress and Senators are being bought off by the Big Pharma. They are only in it for making money, not actually helping the people get healthier.

Rich people can change the timing of their incomes. They can more readily afford lawyers, accountants, and doctors. Rich people should be more sensitive to tax rates than are poor people.

The argument for higher minimum wage is couched in terms of a “living wage,” but seriously isn’t some wage better than no wage? While increasing the minimum wage is a seductive populist agenda item, it is incredibly harmful to the economy. An increase in the minimum wage succeeds in doing is pricing people out of the job market. The times were good during the Reagan and Clinton eras.

We really have to implement positive tax reforms. The solution is to throw out the current tax code and implement in its stead a true flat-rate tax. With tax rules at all levels of government as confusing and complicated as they are today, few people actually prepare their own tax returns. It should come as no surprise to anyone that is government increases taxes on people who work and pays more to people who don’t work, there will be less work. Slashing income-tax rates and capital-gains tax rates in 1981 helped launch what we now appreciate as the greatest and longest period of wealth creation in the world history. When the tax rate is high, investors simply delay selling their assets to keep the tax collector away from their door. In most cases, people who inherit wealth are lucky by an accident of birth and really don’t deserve inheritance anymore than people who don’t inherit wealth.

Should U.S. economic policies be focused on expanding the economy or on reducing income inequality? The mantra is: “Raise tax rate on the top 5% of income earners and cut taxes for the other 95% of Americans.” If the government taxes the rich and give the money to the poor, sooner rather than later we’ll have a lot more poor people and fewer rich. How about we go to a tax rate of only 10% of what a person make. If 10% is enough for the God, it’s more than enough for the government. Good economics should always make common sense. The poor actually spend less money now than 20 years ago on such necessities as food and clothing, called the “Wal-Mart effect.” The government’s Robin Hood strategy has almost always failed because it means less not more income to take from the rich to give to the poor. This is why Socialism will not work. Lower tax-rates expand the economy and helped move more people up the income ladder.

The government is simply spending too much money. More money is going out rather than coming in. As DOGE discovered, there have been a lot of waste in government spending. The Democrats are upset because they got caught with their hands in the cookie jar.

What President Trump wants to do is cut income taxes by using tariffs instead. We can make America great again and prosper; if we only eliminate higher taxes. Taxes in the red states are either lower or no taxes at all; while taxes in blue state are extremely higher. The cost of living is lower in the red states over the blue states.

America can return to prosperity once again after the 4 years under Joe Biden. We can return to prosperity as well. There’s hope for America and for us.