We are being told day in and day out that we are in the midst of the worst economic crisis since the Great Depression, I guess they forgot about the Carter years. President Obama tells us that only government has the resources to get our nation out of this crisis. The Obama administration is spending trillions of taxpayer dollars all the while telling the American people that the spending is necessary to jump start the economy. In the end all of this wasteful spending is going to do little to promote any substantial long term growth and our economy will limp along under the weight of all the debt that has accumulated.

I’m not one to criticize without offering some alternatives. I have three simple suggestions that I think would create a strong economy with sustainable long term growth. My path is much different then that of the Presidents, I rely on the ingenuity and hard work of the American people.

Taxes

Eliminate corporate taxes for five years on all companies with a majority of their employees and headquarters inside the United States. Actively court companies from around the world to relocate to America by offering them the same deal. Eliminate the capital gains tax for five years to spur investment. Give all taxpaying individuals a one year federal and FICA tax holiday, giving people more of their own money to spend. Allow people to deduct the full purchase price of a new car from Ford, GM and Chrysler for two years, with a limit of four cars per taxpayer. Because of the tax holiday the deduction would be carried over to the next tax year. This would jump start sales and help get the auto manufacturers back on the road to profitability. These steps would free up some of the capital needed in the private sector to get production and consumption moving again.

Regulations

Put a freeze on all regulations including CAFE, NHTSA and all environmental laws on the books for ten years, companies would operate under the current laws. This would include opening up onshore and offshore drilling for oil and natural gas and the construction of new refineries. The car companies would benefit because they wouldn’t have too worry about any new regulations for the ten year duration allowing them to focus their resources on more productive activities. Oil and gas companies would hire people to work at the new drilling sites and the price of energy would drop due to the extra supply that would hit the market when those facilities came online. We need to lighten the regulatory load that is placed on companies, this would help lower their operating costs and allow them to focus on their core activities.

Government Spending

Freeze all government spending both state and federal for a minimum of five years, and require a two percent cut in real spending per year for the five year duration. Government has become overbearing and bloated, cutting spending would help get government back to a manageable level. The only branch I would exempt is the military, they are critical to the safety and security of our country and their ability to do that job should not be hindered. Another negative of the continued growth in the size of government is its affect on the private sector. The government continues to borrow more money every year making it increasingly difficult for private industry to secure the capital it needs for growth and investment.

We have two crises right now, the economic crisis and the Obama administration. President Obama has no faith in the American people, he thinks only government can solve this problem. History shows this philosophy is a recipe for disaster. He has surrounded himself with very educated people that have no common sense and they have no idea what they are doing. They think they have all the answers but their ideas are old and tired. Watch any of them on television and I think you’ll agree. We must put our faith in the ability of the American people to turn things around. If government gets out of the way and creates an environment that encourages free market activity then the hard working people in this country will do the rest. The citizens of America will lead the world into a better future, but only if they are given the liberty to do so.