There are a few good plans out there to deal with the deficit and reduce taxes. A blueprint was unveiled Tuesday by Democrat Erskine Bowles and Republican Alan Simpson to address just that. It’s bi-partician for at starter and sounds good. It’s a start. One thing thats needs to be pointed out is that any plan Congress considers must start at a baseline figure before the 2008 Obama stimulus package to be taken seriously by the American public. Another thing the Bowles Simpson plan does not include is Obama-care.
Arthur Laffer today in the Wall Street Journal lays out another simpler plan for Congress to consider. Extend all the Bush tax cuts. An easy thing to do at this point. The full repeal of ObamaCare. A tougher sell to the President and Congress, the cancellation of all spending that punishes those who produce and rewards those who don’t, the enactment of stalled free trade agreements with South Korea, Columbia and Panama, a true flat tax, price stability, passage of a balanced budget and incentive pay for politicians based on stock market performance and economic growth.
The last thing is for the President to change his approach to the job. Quoted as saying Thursday “I’m going to need Congress to work with me” on the tough decisions. He might consider saying he needs to work with Congress. – DSMW