Lawson for Congress: What to DoSubmitted by Gmartine on Fri, 09/26/2008 - 15:09
I don't know if all of you are subscribed to B.J. Lawsons campaign but he has been very good at keeping all his supporters up to date of his Policies. He really is proving to be a great Ron Paul candidate.
We know we don't want taxpayer financed bailouts of poorly managed financial institutions. We know we are in an unsustainable position with respect to taking on more debt from foreign lenders.
Here are some thoughts about how we might navigate this precipice:
The executive summary is as follows:
Practically speaking, what should we do? As unpleasant as deflation sounds, collapsing our currency is worse. We must not collapse our currency to bail out corrupt institutions who benefited from unsound practices. A bailout attempt must not tip us over into a run on the currency. With an existing $9.7 trillion debt and $53 billion in long-term entitlement liabilities, we are not the world’s best credit risk to abruptly increase our borrowing.
If pain is inevitable, how can we temper the economic turbulence to come?
Here is a plan that I would support:
Eliminate capital gains taxes on real estate purchases to encourage existing private capital to buy underlying real assets.
Affirm that all voluntary barter transactions between two individuals (human individuals, not “corporate persons” or legal entities) are tax-free, regardless of the medium of exchange.
The first step will help stem the fall in real estate prices without increasing debt or bailing out irresponsible borrowers or lenders.
The second step will restore a more reasonable balance of power between individual Americans who have been pistol-whipped in this economic mess, and the corporations who benefit from an unsustainable system.
Together, they will reduce near-term economic dislocations, while providing a platform for sustainable community-based growth over the long term.
This moment in American history calls for principled leadership by an irate minority in Congress who is willing to stand up for the American people. The human people, the individuals — not corporations who already run Washington through their lobbying machines.
Please help us spread the word about the need for principled change in Washington. Where is my opponent's contribution to this critical dialog?
William "BJ" Lawson
Congressional Candidate, North Carolina's 4th District