Here are 5 Public Policy Principles worth following:
1. Bailout Economics has failed and must end — TARP has been the worse piece of U.S. legislation since Reconstruction. The law has single handedly extended the Great Recession and Housing Crisis. Less than 1 percent of the 800 Billion which was appropriated by Congress has gone to homeowner loan modifications! We must be unrelenting in demanding more accountability and transparency with big banks and Wall Street firms that took billions in federal bailout money.
2. Crony capitalism is the new source of inequality — I do not support corporate welfare, ethanol subsidies or solar panel giveaways and believe all three represent the true source of inequality in this country. I agree with a leading congressman when he recently observed the real, class divisions that threaten America are: “A society of bureaucrats and connected, crony capitalists trying to rise above the rest of us, call the shots, rig the rules, and preserve their place [in Washington DC and on Beacon Hill].”
3. Tax increases in a recession should be avoided, if possible — Instead of job killing tax hikes, or failed stimulus strategies that have done nothing more than cost shift expenses to our municipalities and school districts, let’s fundamentally reform the tax code rather than force one group of Americans against another. Free Enterprise should be encouraged rather than officials engaging in class warfare rhetoric or income redistribution.
Let’s lower rates; close loopholes and crony giveaways while developing a simpler system that rewards saving, investment and capital formation. Example: In 2011, GE paid no federal taxes on 15 Billion in profits with a 56k page return! That is wrong and must end.
4. All public officials should oppose the Generational Theft which is our National Debt and unfunded liabilities — We do not have a revenue problem; we have a spending problem which is being placed on the backs of our kids and grandchildren. Let's introduce a Balanced Budget Amendment to the Constitution, and reforms that save teacher and other municipal positions.
We can make our public pension systems solvent and avoid massive, future layoffs by acting responsibly today. And, we can shore up our budgets without abolishing collective bargaining.
5. Save Medicare for Seniors (65+) — Last June, in Lowell, the MA Democratic Party adopted Medicare for All (S Bill 509) into their party platform—effectively caving to the Far Left within their ranks. This socialized medicine plan would radically alter health care quality, diminish choice, reduce the number of MA primary care doctors and force private sector layoffs—all in the worst U.S. economy since 1929.
Let's make the original 1965 program solvent and viable for all senior citizens instead. Turning the Commonwealth’s Health Care System into a Vermont or Canadian style model would require the Legislature and Governor to adopt 5 NEW STATE TAXES (on employees, employers, self-employed and a 12.5 percent tax on unearned income).
MA S 509 would pool all federal monies (assuming a waiver was granted) for MA Health Care into a single Trust Fund to be administered by an unelected board with vast governmental powers over health care decisions.