The problem solvers of Congress are a good beginning, representing 8% of our Statesmen and women. To swing votes toward the center, at least 25% of our Congressional Representatives should be willing to cross party lines for the benefit of “We the People”. People before policy!
Many would argue that their Party is ” in the right” and therefore , there’s no need to compromise. I believe we should put people before politics. We’ve had recent examples of the ideologies of both parties. All but 3 Senators in the GOP were ready to destroy our existing healthcare system, even though 88% of the country wants to stabilize the ACA, make improvements to ensure delivery and lower costs to more individuals, thus making healthcare affordable to everyone. This, in fact, was the original goal of the ACA (Obama Care): to utilize insurance companies to provide subsidized healthcare for Americans based on income, and decrease pharmaceutical costs. If we expand Medicaid to all 50 states, we will increase healthcare enrollment from 6-25 million more Americans. “We the People” are paying for the system indirectly through our tax dollars.
Next, I am still concerned with the enforcement of Dodd Frank. I haven’t always been a proponent, favoring the simpler Glass Steagall Act. I was concerned that enforcement of many important rules of Dodd Frank would be difficult and I have unfortunately been proven right. According to the Financial Times on 8/1/17, Credit Default Swaps are re-emerging, unchecked once again. I fear that these instruments of mass economic destruction, if left unchecked, could once again trigger economic collapse. It is precisely this risk that I wanted to avoid with a tax on derivatives and hi-speed trades. A 6% tax, which is not their entire spread, has the potential to provide at least $660 Billion in revenue to the Federal Government, enough to jump start many innovative infrastructure and cyber security programs. My goal is to create new jobs at all levels of income.
Noting the recent black out debacle in North Carolina and the halting of construction on 2 nuclear power in South Carolina, it is clear, we should understand and implement new processes in construction. To gradually replace fossil fuels and gas fracking, I would divide the $660 Billion subsidies these industries receive with new industries entering the renewable energy realm. It is unfair for taxpayers to pay for Westinghouse’s learning curve directly. This burden should be shared by all Americans. In our time of looking inward and rebuilding, it is time to be patriotic and share the tax burden to grow America. We all benefit by being able to vacation on the outer banks of North Carolina or from advanced generation of nuclear power. We should all pay for improving America. Taxation is a shared burden. It isn’t shared now, according to Thomas Pikettey and other Economists, $13-23 Trillion may be hidden by the Uber wealthy, as they evade paying taxes.
Equal opportunity for all should be our goal! Everyone benefits from healthcare; everyone should pay into the system. Uncap the income level for contributions to the “payroll tax”. Tax the first million up to 7.5 %. Let’s be fair! Right now only the upper middle class is burdened. Healthcare is everyone’s right and privilege. When I had hip replacement at HSS, friends of the Board were in the next bed! We are equal and should share equally!
In order to maintain orderly transitions from one industry to the next, we should maintain jobs that would be otherwise lost when we cut subsidies. This clearly was not thought out as we pursued globalization. We can, however, think and act upon the effects of worker displacement now. For example, let’s consider an enhanced social safety net for those earning $75,000 or less annually. The Fed has over $4Trillion in bonds on their balance sheet. Why not retire $1.7Trillion of those assets and cut a check for $12K for 154 Million American families! It’s a win-win for the country, since the working poor and the middle class spend, The money would also recirculate, creating and/or maintaining jobs. This concept is not new. Brazil paid their working poor monthly. Some of the Scandinavian countries continue to pay unemployment benefits, encouraging laid off engineers and IT personnel to take a chance again and join start ups!
That’s why I advocate for bipartisanship, we must think outside our ideological boxes and use the best ideas from all people. Think purple! Why wait for a crisis when we can act on behalf of all Americans now.
See you on Monday and let’s chat about our wish list for our future, yours and mine!
“the heart and pulse of the Middle Class”