Not-So-Funny Money

Says the President of the United States: “If were going to rebuild our economy on a solid foundation, we need to change the way we do business in Washington. We need to restore the American people’s confidence in their government — that it is on their side, spending their money wisely, to meet their families’ needs.”

Got it, Mr. President. Here are my proposals:

(1) Eliminate all Cabinet Departments except for those present at the founding of the nation. Simply zero out their budgets, come up with a plan for severance pay for employees, and set them free.

(2) Educate people that the purpose of the federal government is not to “meet” anyone’s “needs,” but to simply protect them from violent criminals.

(3) Scrap all plans to nationalize health care. Put people under 40 on notice that Social Security and Medicare will not be available for them — which they won’t be, regardless of what anyone wants or thinks — and provide them with tax credits to save for their own old age.

(4) Stop funding education with federal money, appoint Supreme Court justices who will forbid states from taxing people to pay for public schools, and leave education to the private sector.

(5) Massively reduce taxes for everyone. End the income tax and outlaw “progressive” taxation in which people who earn more pay higher tax rates. Yes, the rich will benefit from this the most because they pay, by far, the most in taxes. But they will be free to produce and profit far more than they presently do, thereby benefiting the consumer every bit as much as themselves — solely because of the profit motive, and no other reason. For example: Costs passed along to the consumer at present because of ever-increasing taxes on corporations will no longer be passed on to the consumer. Business will now be free to produce more and more, thereby creating more jobs and providing better benefits to attract the best possible staff.

(6) Work with sane and sensible economists to figure out the most rational and time-effective manner in which to phase out the Federal Reserve and return American currency to a gold standard–thereby preventing future administrations and Congresses from ever again spending the nation into near-oblivion, as it has done to date.

These are just a few suggestions. I welcome more. No, none of them will be enacted under this administration. But file them away for the future. Yes, these suggestions are radical. But the actions of this administration and Congress will make them seem a lot less radical, once the policies of this President and Congress have time to take effect.

To those who call such a set of proposals “crazy” I can only reply: How sane is it of a government to spend trillions and trillions of dollars — and that’s just so far — of money nobody in the nation has or will have in his or her lifetime? This is morally wrong as well as fiscally insane. Not only do the people whose future earnings are being spent have no say in the matter, and will not benefit from this spending. The decline in economic growth — if not outright destruction of our economic system — ensures that these future generations from whom we’re stealing wouldn’t have had that money in the first place. Government has already spent everything we have. Now it’s spending money nobody will likely ever even possess, nor ever have possessed. They’re going to finance our massive and ever-expanding government with imaginary money.

How sane is that?