Fixing the economy

US is still rich and powerful. The economy should be easier to fix but we all have to bite the bullet. Bailing out every one would only buy votes for the politicians and will not help the economy in the longer term. Economy affects every one and it should not be a political game. Here are some of my thoughts.

* When GE pays no taxes to US, but to some foreign countries, we've a problem. So are many global companies which should be headquartered in US instead of some foreign countries. We've not done enough to lure them back. At least we need to force them to pay taxes on the profits they made in US.

* The rich should pay their fair share of taxes. If we force them to pay more than their share, they will move else where. This is call the straw that breaks the camel's back or killing the goose that lays the golden eggs.

* Relax environmental enforcement on drilling and let the construction of the pipe line from Canada start. We have more natural gas than God.

* The complicated regulations and high legal expenses force some drug companies to move the research else where. If  nothing is being done, I predict China and India will be the countries to produce new drugs in the next decades and we will lose the competitive edge eventually.

* We need to limit the unemployment incentive, the burden of Obamacare... to small businesses.

We have to give the rich incentives to take risk to start business, or they invest else where. Without more investment (whose objective is for profit and it is the same objective we invest in stocks), we do not have more jobs.

* There are many ways to balance the budget.

We need to cut the entitlements (I receive SS and eventually medicare). It is called bite the bullet that the politicians will not do as they want to buy your vote.

We need to encourage the poor to work instead of receiving welfare. Why should they work if work means cutting the housing subsidies, food stamp and free health care.

There are many US jobs are done by illegal aliens. Check who pick your lettuce, or empty your waste basket in your office. The poor should take out those jobs instead of fixing their motor bikes, watching TV all day long, or the teenagers taking care of their babies.

* Hiring more employees for government jobs is the most inefficient way to boost employment.

We cannot afford the two wars (one war costs us 2B a week). Why we need a carrier powered by two nuclear generators is beyond my reasoning.

I'm in IT and now in investing. Hence, I do not know much about social systems, but they're just common sense.

(c) TonyP4 2011. Written in 8/1/11. Updated 8/1/11.

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Disclaimer: All my posts are for informational purposes only. I'm not a professional investment counselor. Seek one before you make any investment decision.