An Agenda for Economic Growth
February 8, 2011
President Barack Obama's State of the Union Address and Congressman Paul Ryan's response were strangely missing a focus on the key to restoring America's future: an agenda for economic growth, says Forbes Magazine.
The basis for a bipartisan growth strategy can be brought into focus by combining five proposals made by either President Obama or Congressman Ryan.
- Reduce the corporate income tax rate.
- Reduce the regulatory burden.
- Reduce the barriers to foreign trade.
- Reduce government spending.
- Reform the tort system.
The increase in growth made possible by these initiatives also would set the stage for additional growth augmenting policies including reform and simplification of the personal income tax code and restoration of gold as a standard of value for the dollar. Just as important, a larger economy would provide additional resources and flexibility essential to the reform of entitlement programs, including Social Security and Medicare, says Forbes.
Source: Charles Kadlec, "Restoring America's Economic Future," Forbes Magazine, February 1, 2010.
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