It's Time For The Government To Leave The Financial System Alone
By Malcolm Hedges (10/18/08)
The Feds have dumped a lot of money into the system already. Now it's time to get out of the picture and let things settle.
They can retain the potential for banks to sell stock to them if they so wish, but further hands-on meddling is just mucking up the recovery.
Instead of throwing more money around they should lower capital gains taxes and corporate taxes.(Corporations would no longer receive Federal grants not tied into specific products or services to be provided to the government).
Additionally, all fluid savings (Savings Accounts,etc) should be exempt from income taxes and a 3% credit give for such saving held for a calender year. This system would be forever.
The recovery is trying to start, but keeps stumbling and hesitating because nobody has a clue what pie the Feds will put there fingers into and destabilize.
Energy and Food prices are lowering so the consumer and business operator now have more funds to operate with.
The "credit freeze" is starting to thaw a bit and a "reasonable" credit atmosphere should be coming online in the near future. The good ol' days of "credit for nothin" are pretty much gone and that's the way it should be.
If the Feds don't quite sticking their noses into stuff they have no clue about, we will probably have a very deep recession and very possibly a depression!
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