I believe that many of our worst and very real problems are caused by the size of government, some businesses and some unions—they are all too big.
Economies of Scale make sense, to a point. But Too Big to Fail, or close to it, makes no sense. Because then the interlocking elites who keep these big three in power benefit from “cozitition”, not competition.
We should move quickly to break up the big banks. And reimpose the Glass-Steagall Act’s separations on bank activities. And perhaps even place higher tax rates on companies above a certain revenue size. As heretical as that sounds from a conservative, if these giants are so much more efficient, but pose a threat to the rest of us, then they should be able to pay a little more to keep their favored positions. If they don’t like it, they can break up and avoid the tax.
And of course level the playing field by ending corporate welfare. Lower the corporate tax rate and end all of the special subsidies and deals. Let everyone compete fairly, which I am sure will lead to increased employment.
Government. We can start by telling every government manager that he or she will have ten percent less funds to work with next year, so just get a life and manage it. And we can push more responsibilities back to the states, where they are supposed to be under our Constitution. If the citizens of Oregon, Ohio and Florida want to tackle a particular issue differently, that’s OK. And the rest of us can then evaluate their potentially different results.
Unions. Talk about special interests. And the worst are government unions cozied up to elected officials who give them inflated entitlements in order to be re-elected. A rigged game that the rest of us have to pay for.
So let’s downsize, quickly and drastically. Not tweaks—big reductions. Now. And then we can reduce the fourth side of our broken economic foundation—the too-big personal tax code.