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It's Only Part of The Story.

4/24/2014

My friend Denny Boyd sent me this New York Times article:

The American Middle Class is No Longer the World's Richest.

It is full of some good data but completely misguided analysis. Sure there are elements of truth here but they completely miss the REAL culprits of the income inequality and the losses in the middle class here in the USA. The solutions proposed are equally totally incorrect.

In order for a problem of this or any magnitude to be solved, we must first identify the true causes of the problem and do so separate of ideology, especially extremes in ideology which we see in this article. The true causes of the problem that is the subject of this article are much onerous than that discussed by these writers.

WAKE UP AMERICA! ……..Let’s make it about the true issues….US non competitiveness due to: mercantilist trade---over regulation---over taxation and lack of international tax competitiveness---poorly negotiated and enforced trade agreements, and yes we need a revitalized education system and vocational training system focused on developing the skills needed by innovators, builders, and manufacturers! Everyone can have an impact on getting the discussion on track…..become champions! Let’s become once again the world’s leader in innovating….making and building things and servicing this sector!

My new book , “Rebuilding America”, will be out soon and will address all of this in detail. I focus on what the real problems and solutions are.

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Let’s do it Together!
Dan

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I'd like to Share Dr. Ben Carson's Newsetter With You

4/24/2014

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Richard,

America is the land of dreams, and it has fulfilled the dreams of so many people from so many places. As a child, I dreamed of becoming a doctor. And by working hard, embracing my mother's values and seizing opportunity, I was able to become a neurosurgeon. But I worry that today's generations have been lulled into a complacency that is destroying the promise of The Dream.

The ruling elite have convinced too many young adults today that it's OK to stay at home and live in your parents' basements playing video games or aimlessly roaming the night streets with friends. After all, you can get a monthly check, a free cell phone and health insurance from Uncle Sam for doing nothing. Opportunity has been replaced by despair. Embracing character, values, marriage and family has been ridiculed. Government dependence has been substituted for self-reliance. And mediocrity has eschewed excellence.

I want you to join me today in demolishing this culture of failure and standing up to the media elite, who for too long have treated black Americans as a monolithic bloc addicted to a single political dogma. We need a new media source that embraces hard work, moral character, family values, good education and self-reliance and inspires the next generation with role models who have cast off the chains of mediocre expectations and proven that the America dream is alive and well.

This is why I have joined forces with friends of mine like Armstrong Williams, Rev. A.R. Bernard, Juan Williams and a few others to create American CurrentSee, a new digital magazine that gets delivered every Sunday to your email inbox and works on your computer, smart phone or tablet. It aims to arm us for this bout by boldly tackling the adverse dependency on entitlement programs through demonstrating how big government's well-intentioned nanny state has created lasting pathologies like broken families, overtaxed businesses, underperformance in our schools and crime-ridden neighborhoods. Most importantly, American CurrentSee will serve as a catalyst inspiring you to embrace a new envisioning of economic opportunity, moral leadership and freedom from a suffocating government.

I love the last stanza of our national anthem. But I also know that in order to be free, first you must be brave. Be brave. Sign up today for American CurrentSee and together let's demolish the tired old dogmas, free today's generations from dependency and mediocrity and build a better America.

Your friend,
Dr. Ben Carson

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China: Currency Manipulators

4/17/2014

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With regard to this article, China's Currency Significantly Undervalued, once again we cowardly hold back from declaring China a cheater and from declaring them what they are, CURRENCY MANIPULATORS! Cheating on their WTO COMMITMENTS and their promises they made to have free access to our markets and to gain 'Favored Nations' trading "partner" status in the 90's.

This manipulation gives them a 40-50% cost advantage over US Manufacturers before we open up our doors for business each day. To all those who say....American consumers have a right to those cheaper goods, even if illegally traded, I say never forget that 'every consumer must first be a producer' with a good paying job. It's those good paying jobs that have disappeared because of China's cheating and Mercantilist Trading practices of which currency manipulation is the most egregious but only one of many hundreds of illegal trading activities.

WAKE-UP AMERICA!

Let your political leaders know that they must hold China accountable and now!

2 Comments

Don't Squandor This Opportunity, America

4/16/2014

9 Comments

We have a game changing energy opportunity, let’s make the most of it by creating millions of more jobs by keeping most, not all of it here! Why? To dramatically grow manufacturing HERE and reducing our energy trade deficit by using it HERE, not by exporting it. When we have dramatically increased our global competitiveness in manufacturing, created the 25,000,000 new NET jobs we need over the next 5-7 years, benefited from the hundreds of billions in new tax revenue to rebuild America(both physical and social Infrastructure)…….then we can consider exporting more than 10-15% of our annual energy production.

The idea that we have any global responsibility to export our natural resources of gas is wholly without merit. This is particularly true for the EU/Ukraine/Russia mess. It is also true for Japan and China.

THEY WANT TO BE FREE OF Russian gas then they should allow fracking all over Europe and restart their nuclear fleet in Germany, etc…not demand that we rescue them….likewise for the comments of Exxon et.al.

The use of the term "free trade" in connection with gas exports by Exxon, etc is ridiculous. Global trade in energy today and for my lifetime is anything but market based and supported by free trade principles. It is completely dominated by governments or cartels….Russia, Venezuela, OPEC, ……..

The numbers clearly show we are much better off to use our abundant, low cost natural gas to support a resurgence in domestic manufacturing than to export it.

Recent discussions about the unreliability of natural gas pricing…high winter prices and wide pricing volatility that use that as an excuse for why NG is not an energy game changer is complete BS. The pricing issues were all caused by pipelines not being adequate to get the volumes of gas needed. Not because we have a shortage of gas we need more gas pipelines in certain parts of the country-namely the North East.

Wow! What a great opportunity across the board. Go America and American innovation that for once we can take full advantage of her to drive healthy long term economic growth and job creation sure to reinvigorate our country and our middle class!

Wake- Up, America! Don’t let a few squander this game-changing opportunity.

Let’s do it Together,
Dan

Click here to view a more easy-to-read version of this infographic.

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Tax Day

4/15/2014

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On tax day, it seems appropriate to reprise this article ….

Tax Reform -- Eliminate the Income Tax and IRS Altogether

Peter Morici

NEW YORK (TheStreet) -- Americans desperately want a fairer tax system and relief from arbitrary treatment by the IRS. True reform requires simply junking the personal and corporate incomes in favor of a consumption tax.

House Ways and Means Committee Chairman Dave Camp estimates tax filing, recordkeeping and the like amounts to $168 billion a year -- a terrible waste exceeding 10% of the taxes collected. Much of the personal information revealed is a terrible invasion of privacy, and the constant fear the IRS will audit taxpayers for their political activities is outright tyranny.

The tax code is riddled with special interest provisions that favor rich donors to political campaigns, distort business decisions and consumer choices, and handicaps economic growth and jobs creation.

Camp proposes to eliminate or modify many exemptions, deductions and other special provisions, but just the summary of those reforms takes 194 pages to explain in language only a tax expert could fully comprehend. Despite noble intentions, much of the morass would remain, and the biggest beneficiaries would be lawyers and accountants tasked by the rich and big corporations to game the new system.

The tax code would continue to heavily tax America's biggest jobs creators small businesses who cannot afford those professionals to effectively compete with big corporations and to disadvantage American businesses in foreign markets where governments rely more on consumption taxes than levies on income.

In 2013, the Treasury collected $1.6 trillion from corporate and personal income taxes. This could be replaced by a 12% sales tax on all private purchases and other paymentsbe they computer equipment, college tuition or lunch at the corner takeout.

Businesses and institutions would then pay to Treasury the taxes they collected less sales taxes paid on purchases of materials and equipment, rent and the like. This subtraction would avoid the double taxation of materials and equipment businesses purchase and create a value added tax often proposed by advocates of reform.

It would end forever all the headaches associated with valuing inventories, calculating depreciation on capital equipment and other work that cost billions in accounting and legal fees.

A VAT would favor no activity over another, and by taxing goods and services at the point of sale, it would end the problem of U.S. firms parking profits abroad to avoid taxes.

Businesses and institutions would file a three line return, how much tax they collected, how much they paid and the difference. Individuals would file no tax return at all!

Temptations would abound to exclude or exempt all kinds of activities but that is the kind of thinking that gave us the current mess and inequities, slow growth and exceeding complex tax returns.

Two problems remain. A VAT is not progressive it taxes rich and poor consumers at the same rate. The elderly, who more or less live on savings, have already paid income taxes on those savings and would be taxed again.

A simple solution would be to raise the rate to 15%, and award each parent $4,000 for each child and pay similar amounts to each American over 65.

If Congress wants to spend more, it could raise the rate further. That would make transparent to all the cost of spending more on government activities. If conservatives on Capitol Hill want to cut programs, they could explain to voters how much those savings would lower the rate.

Elegant, egalitarian and efficient, such a value-added tax without exemptions would give Americans the tax reforms they want but privileged rich folks and big businesses spend a fortune avoiding.

The economy would grow faster, create more jobs and Americans would live better and in less fear. And that is what America is supposed to be about.

Peter Morici is an economist and professor at the University of Maryland Robert H. Smith School of Business and a widely published columnist. He tweets @pmorici1

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Why A Blog?

I want to help educate Americans about what we can do and need to do to drive economic growth, massive job creation, rebuild our Middle Class, and most of all provide the opportunity for our Children and all future Americans through the Free Enterprise System for a better tomorrow! In doing so we will have a stronger, healthier America and in spite of our imperfections the world will be better off because of our continued leadership in the world.

Also, I want to share my experiences on leadership and what it takes to develop the full potential of individuals, build a successful team, company and long term success.”

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It's Only Part of The Story.

I'd like to Share Dr. Ben Carson's Newsetter With You

China: Currency Manipulators

Don't Squandor This Opportunity, America

Click here to view a more easy-to-read version of this infographic.

Tax Day

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Why A Blog?

Pre-Order Your Copy Today

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