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There has never been a better opportunity to get our country back on solid footing than right now. But doing so is going to require several things that the President hasn't yet done:
1. Economic recovery doesn't trickle down. - that we are still embracing parts of a trickle down theory is simply beyond me. How many times does this snake oil need to be exposed before we can put it to bed once and for all. The overwhelming focus of an economy recovery plan needs to be on putting ordinary people back to work, not funneling trillions of dollars to failed executives in the largest upward wealth transfer in history.
2. Friedman-economics is a failed, discredited ideology - and yet here we are, still dabbling our feet in its waters! If ever there was a time to ride public consternation for wall street and popular support for a president to a new era of responsible economic ideology it is right now. This is not the time for a tempered, one-foot in a discredited past, one-foot in an alternative future approach. We've seen thirty years of failure, and when you take the ideological rhetoric out of it, crystal clear concrete indicators show just how big of a failure the ideology has been. We need to eliminate some of the more lunatic and ridiculous money making schemes of wall street, which are very much like a child making up the rules to a game she doesn't understand in order to win. We need to reset consumer and market regulation in this country and deliver a new rule book along with a new generation of referee agencies and individuals to wall street.
3. Washington and Wall Street must be decoupled - Obama talked big on lobbying reform in his administration and then completely broke those promises since then. He needs to pick that ball back up. The economic game will never be anything but rigged as long as the players also make the rules for their own game. We need a set of players, then we need a separate set of referees and at no point should the players be able to become referees or buy referees off.
4. The tax rate needs reset to levels we had during periods of rich, sustained economic expansion when that expansion was still coupled with rising wages and rising standards of living. That would be prior to the late 1970s. In other words, forget the Bush tax cuts, we need to roll back the Reagan tax cuts and return to a responsible progressive tax system in which the people who use the most of the public commons pay the most to reinvest into its long term sustainability - because that's simply the only way a system such as ours ever effectively works.
5. Federal Public Policy must be created to develop a specific future procedure for companies that are reckless and irresponsible and then expect the tax payer to save them. I would cry tears of joy of Obama were to stand up and announce that the "era of privatized profit and socialized losses is over." There needs to be clear law in place so that this never happens again, and that law needs to be scary. Wall Street needs to be feared into straight, responsible business practice, knowing that if they are deceitful, reckless or incompetent they'll lose everything they have - including their freedom if even a whiff of criminality is detected.
6. We need to release our non-violent prisoners incarcerated for simple low-value substance possession charges (since we put more people in our (frequently) for-profit prisons than any other industrialized country in the world and start putting our ponzi schemeing, public raping, lying, cheating, manipulating corporate criminals behind bars for twenty to life. And they need to be imprisoned in the exact same prisons that non-violent offenders regularly find themselves in. Those would not be the little cushy resorts the Martha Stewart's of the world "summer" in.
That would be a start.
Otherwise, who gives a fuck if a president has a 62% approval rating or not. DO SOMETHING BIG WITH IT.
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