Let’s hope that the present spending bill doesn’t pass the House of Representatives and the Bidens have to start over, again. A much more balanced bill can be written, I think.
I also think if the Biden administration adopted the ideas below, they might just avert a recession, too.
We borrowed the title from some past bill, not sure where, but the title is catchy.
We have some ideas on how to really stop inflation, probably in about six months or so.
- Unblock energy production. I don’t think the Biden bunch understands the degree to which energy goes into many of the things that we consume. This means restarting the Keystone pipeline, and unblocking permitting and leasing for other energy projects. Promote an ‘all of the above’ energy policy. Biden might have to lock the greenies in a basement, but so be it. American industry is not going to kill our planet. We are far more careful about our environment than the Chinese and the Indians.
- Unlock the rest of the supply chain. I’m not sure what legislative measures are needed, but I’m sure our vaunted Washington wizards can do it. One of the problems is the change in depreciation in the current bill that disallows expensing of plant and equipment.
- Get rid of the minimum 15% tax. Most of my clients don’t pay that much in taxes, because they have extensive depreciation flows that reduce their taxable income.
- Once again encourage accelerated depreciation of plant and equipment. This might be in the Trump tax cut plan, but it can be reinforced.
So, these are some modest ideas to whip inflation, and I’d certainly encourage you readers to retweet our tweet on this subject.