Federalism Amendment
A Federalism Contitutional Amendment
23/April/2009 09:45 Filed in: Oikos
Thoughts | Web News
by Jerry Bannon
I have to admit I am a very recent convert to Fair and-or Flat Tax proposals. While I considered the concepts interesting, I believed that the current system was somewhat working and even if it appears broken at times, it would be more cost effective to fix our Income Tax system rather than starting over.
The last few months and the gargantuan Federal spending associated with all the meltdowns and the bailouts have changed my perspective considerably. Then when you add the Obama Administration’s (never let a good crisis go to waste), simplistic and pedantic narcissism, something needs to change.
In yesterday’s weekly post the essential focus of “TEA Party Flavors” was the reestablishment of the Founder’s absolute constitutional values, making money again related to real wealth, and limiting the power of special rights — special interests.
In today’s Wall Street Journal, “The Case for a Federalism Amendment” is a practical and doable option to rein in our bloated and out of touch Federal Government. All three constitutionally prescribed branches of the Federal bureaucracy need to be included, the Congress, the Executive, and the Judiciary.
Most of our current economic troubles however stem from the Fed and the monetary expansionist policies of Alan Greenspan, which exponentially exceeded the linear natural growth in the economy. By allowing unregulated growth in debt, especially debt leverage, cheap credit forced consumer consumption leading to an unsustainable cancer. Current Fed Chairman Bernanke’s belief that tight money and speculation brought about the Great Depression, does not look at all at the systemic overvaluation of assets, especially real estate, which truly brought about the bursting bubbles both in the Great Depression and in our present condition.
Briefly checking the economic news this morning, there were discussions on whether the bottom had been reached at this time. The consensus was not yet, but the declines was showing signs of easing. All those commentators were really just blowing the smoke of their own opinions, not much better than a campfire, or a toxic cigar. Only the reestablishment of the Founder’s constitutional controls stemming from Natural Law and Nature’s God will give some absolutes for a profitable dialogue. Then perhaps some might begin to see that Natural Law did a more than decent job of predicting this mess and provides a path to a sustainable future based upon wealth creation, rather than monetary spin and debt leverage games.
I have to admit I am a very recent convert to Fair and-or Flat Tax proposals. While I considered the concepts interesting, I believed that the current system was somewhat working and even if it appears broken at times, it would be more cost effective to fix our Income Tax system rather than starting over.
The last few months and the gargantuan Federal spending associated with all the meltdowns and the bailouts have changed my perspective considerably. Then when you add the Obama Administration’s (never let a good crisis go to waste), simplistic and pedantic narcissism, something needs to change.
In yesterday’s weekly post the essential focus of “TEA Party Flavors” was the reestablishment of the Founder’s absolute constitutional values, making money again related to real wealth, and limiting the power of special rights — special interests.
In today’s Wall Street Journal, “The Case for a Federalism Amendment” is a practical and doable option to rein in our bloated and out of touch Federal Government. All three constitutionally prescribed branches of the Federal bureaucracy need to be included, the Congress, the Executive, and the Judiciary.
Most of our current economic troubles however stem from the Fed and the monetary expansionist policies of Alan Greenspan, which exponentially exceeded the linear natural growth in the economy. By allowing unregulated growth in debt, especially debt leverage, cheap credit forced consumer consumption leading to an unsustainable cancer. Current Fed Chairman Bernanke’s belief that tight money and speculation brought about the Great Depression, does not look at all at the systemic overvaluation of assets, especially real estate, which truly brought about the bursting bubbles both in the Great Depression and in our present condition.
Briefly checking the economic news this morning, there were discussions on whether the bottom had been reached at this time. The consensus was not yet, but the declines was showing signs of easing. All those commentators were really just blowing the smoke of their own opinions, not much better than a campfire, or a toxic cigar. Only the reestablishment of the Founder’s constitutional controls stemming from Natural Law and Nature’s God will give some absolutes for a profitable dialogue. Then perhaps some might begin to see that Natural Law did a more than decent job of predicting this mess and provides a path to a sustainable future based upon wealth creation, rather than monetary spin and debt leverage games.