Donald Trump’s acceptance speech at the Republican convention last night could have been a lot shorter and focused on espousing the virtues of limited government and free enterprise.
First, Donald should have used several props, such as the first 1040 form, which was only four pages long. He should have said that a tax return of 1914 was simple and allowed the federal government to raise the funds it needed to pay for its expenses 100 years ago, when only 2% of the American people had to pay any income tax. In addition, today large and medium-sized businesses need an army of accountants and attorneys to comply with the tax code. That’s money that cannot be used to buy better equipment, modernize their factories, and thus make American workers more productive, which would earn them higher salaries.
So instead of having low taxes, a simplified tax code, we have a 70,000-page monstrosity. It’s time to downsize tax code so the American people and business owners can get back to the business of working for themselves, for their families, for their communities instead of the government. Better yet, we can get rid of the federal income tax, because after all, the country grew by leaps and bounds for more than a 100 years prior to the adoption of the 16th amendment in 1913.
Second, Donald should have had a copy of the $4 trillion budget and a copy of the U.S. Constitution and pointed out that virtually all the spending of the federal government is not authorized by the Constitution. Therefore, we need to get back to a constitutional budget. That’s not going to be easy because of all the special interests that are feeding at the trough at the American people’s expense, and phase out all the entitlement programs that people have come to depend upon because they have been told don’t worry the government is going to protect us throughout our lifetime, and all the unnecessary military expenditures that are not making America safe but have been used for nation building and spreading democracy to peoples around the world, which is not our responsibility.
Donald could have invoked a hero of the Republican faithful, Ronald Reagan, who promised to abolish the departments of energy and education, which of course are not authorized by the U.S. Constitution. He could have said that we need to look at everything the federal government does and either abolish the program or turn it back to the states and local communities, if they want to undertake those activities that are clearly not the constitutional prerogative of the federal government. Donald also should have pointed out that the Constitution is totally silent about the federal government being involved in healthcare, which means either the states should carry out these programs or leave it to the medical profession, patients and other interested parties to create a high-quality, low-cost health care system for all the American people.
Third, Donald should have been denouncing the Federal Reserve’s bubble creating monetary policies and denouncing the zero interest rate policy that is destroying the savings of average American families and providing a boon to speculators and Wall Street banks. This was one of the great missed opportunities of his speech, because senior citizens and others who have saved by putting their money in banks are getting nothing in return. This is one of the great scandals of our era. Donald could have indicated that we need “normal” interest rates to avoid the distortions caused by the Fed’s zero interest rate policy. His prop could’ve been a dollar created in 1914 when the Fed began operations and showed that it only buys a nickel worth of goods and services today.
Fourth, Donald should have rolled out the 70,000 pages or so Federal Register, which contains all the unnecessary regulations that are hampering American business decision-makers. Donald could have used this to show that our economy would be much improved if we eliminated the rules and regulations that fuel the army of bureaucrats who hamper capital formation and job growth.
Fifth, Donald spent a lot of time asserting he would be the “law and order” president. However, making America’s streets and suburbs safe is the responsibility of primarily mayors, town councils, police chiefs, and local law enforcement officers. He could have held up a copy of the Constitution and told the audience the 10th amendment precludes the federal government from local policing. That is the responsibility of local and state governments. Another missed opportunity by Donald. He also should have pointed out that no one is above the law, and that includes the federal government, so that means no more spying on the American people.
Sixth, Donald has correctly criticized so-called free trade agreements, which are really managed trade agreements. Donald could have pointed out that as a businessman he loves to trade and that domestic and international trade raises everyone’s living standards in America and around the world.
Finally, Donald should have pointed out that the 100-year experiment in progressivism has been a total failure. From the Federal Reserve, to the income tax, to the entitlement programs, to the federal government bureaucracy, to the bloated Pentagon budget, government failure is all around us, such as the $19 trillion federal debt and the more than $200 trillion in unfunded liabilities. And as we try to make the world safe for democracy, our infrastructure is substandard, government schools are costly and are not educating all our students and that people all weary and frustrated with the promises of countless politicians who will obviously have promised more than they could possibly deliver.
Any objective assessment of the state of America is clear, big government has been a total failure and what America needs is what propelled us from a nation of 3 million people primarily devoted to farming to a country with more than 300 million people have a standard of living that is head and shoulders above our ancestors is to restore the power of the free enterprise system. So despite taxes, regulations, Federal Reserve manipulations and unnecessary spending, it’s the American people who continue to create the high living standards that most Americans enjoy. Imagine what the American people could achieve if they had more economic freedom. And imagine how much philanthropy would increase if people kept more of their own money to help their neighbors in communities all across America.
So let us work together in the next chapter of creating more prosperity in America and end the petty politics that have stifled the people’s ambitions and goals and let’s mind our own business to end the blowback to our country because of our misguided policy of regime change, which has destabilized the Middle East.