Friday, July 10, 2009
When Will The Recovery Begin? Never
When Will The Recovery Begin? Never by Robert Reich
One reader response to this article caught my attention because I would construct a very similar list. I've copied it below.
Response to this article from Cygnus-X1-isaHole:
Mr. Reich is a bit wiser than Mr. Krugman. There'll be no recovery until EVERY problem is addressed.
Here's my short list:
(1) Shred NAFTA, WTO
(2) Dissolve the Fed into the Treasury and restore the job of controlling money supply and credit to the people.
(3) Increase the minimum wage to at least $10/hr.
(4) Pass EFCA
(5) 90% Top Marginal Tax Rate on incomes over $3 million
(6) Close all corporate tax loopholes
(7) Put Glass Steagall back in place
(8) End trading in Credit Default Swaps, Eliminate all debts owed thru them
(9) Tax Hedge funds between 35-50%
(10) Cut Defense Budget 50% Immediately
(11) Freeze all Pentagon funding until they can pass an audit
(12) End all wars/occupations and close all military bases
(13) Pass single-payer healthcare
(14) Enact a Public-works program ($3 trillion) to build an entirely new energy infrastructure (solar, wind, thermal and the lines that'll carry the new electrons) putting millions to work.
(15) Force banks to properly state the actual debt on their balance sheets. End government subsidies. If they cannot survive let them fail or let the FDIC reorganize them.
(16) Pass cram-down legislation allowing homeowners to renegotiate mortgages before bankruptcy judges
(17) Imprison every person involved in financial fraud...from the Wall Street Banker to the most powerful in government.
(18) Return control of the airwaves to its rightful owners, the public, and use antitrust legislation to break up media megaliths. The people MUST KNOW WHAT'S GOING ON TO PREVENT RECURRENCE OF THE ABOVE.