A heated discussion on LinkedIn was recently initiated by Alan Kitty who originally wrote the following:
With 10% unemployment in the US alone, the world is, putting it mildly, experiencing a deep dip in the business cycle. Governments can muddle through the process of trying to minimize the damage – but an upturn will occur regardless of their efforts – otherwise the term “business cycle” would have to be retired. Is Global Capitalism due for an overhaul? Do we need a new economic theory? Is it time to find a replacement for all known forms of government; or do we just sit tight and wait it out?
Much of the 28,000 responses have taken one form of the blame game or another. Very few have actually attempted to offer any sort of solution to the problem. Worse still there are a large number of people blaming the Occupy Wall Street #OWS demonstrators, which is entirely preposterous. In fact to sit there calling the participants of #OWS scum does absolutely nothing to solve this problem and is indicative of the disconnect that they are demonstrating against. The members of the various occupy groups are a symptom of the problem. They are a precursor to the dire state of affairs and a symbol of the rift between our leadership and the population.
We will not find a solution by rewinding back to some sort of fantasy era. Certainly no amount of wishing the problem away will get us there either. Honestly both the Republicans and Democrats are at fault for this mess. I truly believe that neither of them are capable of fixing it. If they were then #OWS would not have become a factor in the first place.
The most important issue at this time which sadly has been the most important issue of the last 6 years is unemployment. Both the Republicans and Democrats are responsible for the whole sale auctioning off of our economic future. There is absolutely nothing else to say. Each side has done it’s fair share of damage all in the name of progress.
The most infuriating point is that there is another 7-8% of people who fall into the grey unemployment. These are the people most hurt because they do not qualify as officially unemployed. At this point a conservative estimate is that the true unemployment rate is 17%. There is a stigma in this country against the unemployed and it has been proven that many companies will avoid hiring ‘unemployed’ workers no matter how qualified. This will only compounded once our troops return from the middle east. These returning service members deserve jobs too.
In addition, we have companies like Microsoft whining that they can not find qualified worker to fill job openings. These companies are making a lot of noise in DC about opening HI work visas and foolish politicians like Mayor Bloomberg is standing behind them. In stead of whining these corporations need to adjust their standards. Corporations have long enjoyed person hood but without being good citizens.
We need strong leadership to make real change and push forward some simple steps that send a clear message to corporate America as well as the disconnected of #OWS.
- Raise the corporate tax rate. This is nonnegotiable. I know people hate hearing that we need to raise taxes but this is absolutely essential.
- The tax has to put towards paying down out multitrillion dollar debt
- A portion for startup grants to the unemployed
- Tax cut incentives for companies that permanently hire unemployed workers. This is an incentive for companies to look past the stigma of ‘unemployment’. They incentive must be some sort of point system for every month they keep the same individual employed.
- A long term Federal student loan deferment plan. I know that many student loans offer some sort of deferment but this may not be enough to help the economy back on it’s feet. I DO NOT feel that we should bailout the student loans with a handout like we gave the banks.
- Close the door on all future bailouts. Federally sponsored loans on a case by case basis are one thing but to simply hand over the people’s money to a mismanaged corporation if utterly unconstitutional. If you feel otherwise then put it to a public referendum and see what the people think!
- Establish an incentive for saving. People live too much beyond their means and we have become a vapid greedy society. Our grandparents saved their pennies. We need to return to a more frugal lifestyle.
- Raise the tax on Capital Gains this solves the problem of corporate officers who receive small salaries and large stock options
- Establish a salary cap based on a ratio of the corporate officers to entry level employee salary. In addition set a bonus cap that is based on the permanent hiring of unemployed workers.
- Require all elected officials to carry the same health care coverage as the rest of the population. No more special treatment for them.
- Establish a tax on overseas outsourcing. We need to make the cost of off-shoring our work force comparable to hiring local talent.
- Establish a moratorium on all foreign work visas. Companies need to hire local talent.
This list is just a beginning but I feel it could substantially effect our economy in a positive way. Obviously I am just one man with a simple view of how to improve things but imagine what could happen if our collective political machine could do if they actually focused on the needs of the people and not their own wallets. Ultimately we need to stop pointing fingers and start solving problems or we could end up reaching critical mass.
Hopefully, this article got you thinking. Hopefully, it woke you up. Hopefully, it will spark some serious discussion about the problem and possible solutions. Hopefully before it’s too late.
Related articles
- Youth unemployment: The angry millions (independent.co.uk)
- Yes, There Will Be A Student Loan Bailout (businessweek.com)
- Pain of Jobs Crisis Extends Beyond The Unemployed Themselves (huffingtonpost.com)
- Tiger Street Journal: Why the OWS movement is being co opted and the people don’t even know about it [YET] (tigerstreetjournal.wordpress.com)
- Occupy Wall Street?? With What?? Part Two (fountainabbey.wordpress.com)
- What’s Your Idea For Solving The U.S. Unemployment Crisis? (huffingtonpost.com)