English: A map of the 12 districts of the United States Federal Reserve system. (Photo credit: Wikipedia)
Organization of the Federal Reserve System (Photo credit: Wikipedia)
Many years ago I had ran across an article that I would like to run by you for your thoughts.The article was from the leading economist of that time period a few years back.The author s name isLiewellyn H.RockwellJR. President of the Ludwig Von Mises Institute,Auburn University,Auburn Alabama,36849-5301
Its a 30 day plan to turn the economy around by raising funds from the resources that “WE” the american people have as assets.With no further comment till the end and a hardy Thank-You Sir,for the expert opinion on the ever growing disaster area that we have as our economy…I give you the honorable President of Tha afore mentioned Institute:
Day 1)The federal income tax is abolished and April 15th is declared a national holiday.The 40%reduction in federal revenues is matched by a 40%cut in spending.The budget is still as big as Former Prez.Jimmy Carter’s.
Day 2).All other taxes are abolished,including the corporate income tax,The capital gains tax,The gasoline tax,”sin”taxes,Excise tax,etc.Business would boom and the new legitimate federal functions are funded with an inexpensive head tax.People that choose not to vote would not have to pay taxes(that’s the way the 19th century worked it).
Day3)The federal government sells all “its” land,freeing up tens of millions of acres of forestry,Private parks,farming,developement,etc.The government uses the revenue to pay off the national debt and other liabilities.
Day4).The minimum wage is reduced to zero,creating jobs for exfederal bureaucrats at their market wage.All pro union laws and regulations are scrapped.The jobless rate falls to dramatically.
Day5)The Bureau of Labor Statistics,like the the Labor department,is sent to that big hiring dept in the sky.Without the detailed economic statisic,future planners will be blind and deaf.
Day6)the Department of Commerce is abolished .Therest of Big business has to make its own way in the world,without subsidies and privileges at the expense of its competitors and customers.
day 7)The plug is pulled on the Dept. energy, oil and Gas prices plummet.
Day8)All regulatory agencies,from the Interstate Commerce Commision to the Federal Commision are deep sixed.Competition is legalized.
Day9)Hud is squashed like a bug.Theres a building boom in cheap,private apartments.
Day10)The interstate hiways reopen as private businesses.Road entrepeneurs price travel according to customer demand.using modern technologies,drivers are billed once a month.non drivers no longer pay for roads they don’t use.
Day11Government welfare is wiped out.Bums work or starve.The deserving poor find a cornicopia of private services to make them independent.Private charity explodes,as American people already the most generous in the world,find their incomes almost doubled,thanks to the tax cuts.
Day12)The federal reserve closes its open-market operations and stops protecting the banking industry from competition.But banks can now engage in all the non-bank financial activities previously forbidden to them.The business cycle,which is caused by monetary expansion through the credit markets,is liquidated.
Day13)The Federal deposit insurance is scrapped.All insured deposits are redeemed from federal assets which include the personal assets of high level government employees. The threat of bank runs forces the banks to keep 100% reserves for their demand deposits and prudent reserveson all other accounts.There are no more inherently bankrupt banks that proopt up pby the government,at taxpayer expense,and no more bailouts.
Day 14)The shaky flat dollar is defined in terms of gold,with the ratio determined by dividing the governments gold stock by all existing dollars on that day.
Day15)The federal government sells National and Dulles airports to the highest bidder and stops all subsidies to other socialist airports around the country.All constraints on airline prices and services cease.It costs more to fly during peak hours than off peak,but overall,air travel drops in price.
Day16)All government regulations that create and sustain cartels are abolished,including those for the past office,telephones,television,radio,and cable TV.Prices plummet,and a host of new and unforseen services become available.
Day17)Centrally planned agriculture,as imposed by Hoover and Roosevelt is repealed:There are no more subsidies,payments-in-kind,marketing orders,low cost loans,etc.Farm prices drop,entrepreneurial farmers get rich.Welfare farmers go into another line of work.The poor,eat like kings.
Day18)The justice department shutters its antitrust division.Companies,Big and small,are free to merge-up,down,sideways.Stockholders can buy any other company,or sell their stock to anyone else. Marginal producers can no longer battle their competitors with bureaucratic weapons.
Day19)The Department of Education flunks the constitutionality test,and is kicked out.Private charities set up remedial reading and writing programs for the former bureaucrats.Local school districts become responsive to to parents or close,pressured by a fast growing private school sector(which many more parents can now afford).
Day20)All federal monuments are sold.I some cases to non-profit groups based on the Mt.Vernon Ladies Association,which owns and runs George Washington’s Home.The VFW buys the Vietnam Memorial.There is much bidding for the Jefferson and Washington Monuments.Nobody wants the FDR’s So it’s torn down and land is sold to a farmer.With the federal government cut back to its constitutional size.Much of Washington reverts back to productive uses like agriculture,as in the late 18th century.
Day 21)The computerized financial and political maintained dossier maintained by the government on every american erased.The public wanders through the federal offices to make sure,in a reprise of the East Berliners visits to Stasi HQ.
Day22)Equal rights are granted to all American,Even members of non-victim groups.There is no affirmation action,no quotas,no set asides,no public accommodations laws.private property and freedom of association are fully restored.
Day23)The EPA is cleaned out,with all “clean air”and similar big government laws repealed.Ten thousand Lawyers leap from their balconies.Private property is established in air and water.Americans harmed by pollution are free to sue the polluters,who are no longer protected by the federal government.
Day 24)Americans are given complete freedom of contract,restoring rationality to malpractice and product liability law.
Day 25)Government scrambles for more assets to sell(ie.The National Zoo also known as Washigton Zoo)to pay off the liabilities of the privatized social security system.
Day26)Porn Artists Have to earn their own living,as the National Endowment for the arts tries to raise its budget through sidewalk painting sales.
Day28 )Foreign aid is outlawed as unconstitutional,unjust,and uneconomic,Foreign politicians have to steal their own money.The world bank,IMF,and the United Nations close their super luxurious doors.
Day 28)The American people are given the unrestricted right to bear arms.
Day29)he Defense Dept.is reoriented to defense.American troops come home from all around the world We remember the Founding Fathers teaching that we cannot have an Empire abroad and a Constitutional Republic at home.
Day30)All tariffs,quotas,and trade agreements are put through the shredder.Americans can trade with anyone in the world,without barriers or subsidaries.Japanese car prices drop an immediate 25%
Summary: in just 30 days exhilarating days,we will have established the outlines of a free market economy.Radical?maybe so.Me I can’t wait til month 2
This article appeared in the survival magazine many years ago.It is quite radical,while giving a very different view of what could be done to “fix” the National problems that seem to be chaotic for the leaders to even hold civilized conversations about.Maybe someone up there in their Ivory Towers of our Nation will read this and consider the options available.The biggest problem will be getting anyone to even listen.
I don’t agree with everything here and it is presented only as a possiblity.So please read it and save the Hate mail for those who havent fixed anything since this was first written all those years ago.But this is still America.We(The American Citizens) still have time left to fix the problems.Not much time,but maybe enough.The citizens of the world still have time to change the systems that are broken .Our voices out number the bureaucrats millions to one.
For now RJP see you soon.