Are conservatives truly interested in reducing debt?
I don’t pretend to make the following suggestions because of personal knowledge, lifelong study or high intellect. Since I have read a lot and have access to the results historically proven, I do believe this proposal is a worthwhile effort for debt reduction and wiser use of tax funding. Knowledgeable individuals spell out and with many years to absorb some of it, I present three ways we could get our big debt reduced to manageable size. The first two are longer-range efforts but No. 3 could be made law right away.
Stop our empire building. Much of what we have done and are presently doing worldwide was to help people in foreign countries who were starving or being slaughtered indiscriminately, but some was and is being done to assist U.S. corporations seeking additional resources.
We’ve read or heard some about the results of previous empire building such as Genghis Khan of the Mongol empire, the rise and fall of the Roman Empire and the United Kingdom’s stretch prior to our own. The end of large and spacious empires eventually comes to the most powerful of the powerful because they over extend themselves.
Does that sound familiar?
Stop or greatly reduce our militarized economy, our industrial military. It does provide additional security and safety for conventional warfare; however with the increasing number of nations that have nuclear weaponry, our greatest hope has to be serious negotiation. Is there some futility in our astronomical military budget to Don Quixote’s “tilting at windmills”? It does provide employment in times of high unemployment, but we have so many worthwhile possibilities to serve these needs and provide the pursuit of happiness to more of our citizens.
Introduce a Financial Transactions Law very soon. Some 40 nations of the world have such a law now. It would put a one half of one percent tax on every Wall Street Trade like stocks, bonds, foreign currency bets and derivatives. Such a tax would raise about $350 million per year.
Very important, is what is not taxed — ATM withdrawals, home mortgages issued to buyers, loans received, initial issuance of stock or bond, short-term revolving bond, individuals who have 401(k) or mutual fund accounts.
We are all aware of the problems of congressional decision-making and legislation proposals. Our military industrial complex that former President Eisenhower warned us about predicts a most difficult struggle will occur about reducing expenditures for military or recognizing the increasingly evident truth that — war is not the answer.
Bernie Hughes, Ed.D, is a retired educator who resides in Superior. He can be reached at bernie3024@