What would you stand for if you ran for president? You may not have such an ambition, but when we vote next year you and I should vote for candidates who are representative of our views. Here is what I would look for in a candidate.
First, I would seek ways to increase the real income of the middle class. The gap between the top 5 percent of Americans and those of us who do not have great wealth continues to grow. Over a period of years, I would raise the minimum wage to $15 nationwide. People at the bottom of the ladder will spend all or most of their income, thus stimulating the economy.
We need to reduce and eventually eliminate the annual deficit. To start with I would look for ways to reform our tax laws. I would get rid of all those deductions, exemptions and other lawyerly tricks that allow our richest corporations, like the big oil companies, to pay no income tax at all, year after year.
I would place a limit on executive pay in nonprofit corporations. An entity that pays its chief executive $19 million a year is nonprofit in name only.
I would review and, as necessary, rescind the trade agreements that allow goods from foreign countries to be imported at prices that are destructive of our domestic industry. Our country is the biggest market in the world. American-made goods should receive preference. The so-called Trans Pacific Partnership should be buried in the Pacific Ocean.
We still pay way too much for health care compared to most other nations. I would begin with a public option on all health care exchanges which would be administered using the same payment mechanisms as Medicare but funded by premiums covering costs plus 5 percent, that 5 percent to be transferred to the Medicare Trust fund. Medicare already has a good reputation with health care providers for paying — not fighting — legitimate claims for reimbursement. I would also amend Medicare Part D and other programs that deal with prescription drugs to allow for meaningful price negotiation and, if necessary, re importation of American-made prescription drugs sold to Canada at reduced rates.
To stabilize the financial markets I would reinstate the Glass-Steagel legislation that protected us from financial panics for many decades. Basically, that law said that commercial banks — the ones that sell mortgages to me and thee — could not engage in stock market speculation. They would have to hang on to the mortgages that they sell. Derivatives would be a thing of the past.
There are people who proclaim climate change fueled in large part by human activity is a myth. There are also people who believe that the earth is flat. We should not listen to either set of self-deluded folk. The proposed Keystone Pipeline from Canada carrying tar sands to seaports should be prohibited. Among all the other reasons for vetoing this really dangerous project is a legal one. The route would go through lands ceded by treaty to the Rosebud Sioux. The Constitution says we are governed by treaties. The Rosebud Sioux object to the pipeline. End of discussion.
We should retain our present hydroelectric generating facilities and expand the use of solar, wind and geothermal sources. As our nuclear plants age past their safe lifetimes, they should be shut down and encased in concrete. I look for the day when new houses must by law have solar panels and/or geothermal heating systems. We should be moving to electricity for all forms of transportation. Ultimately solar panels should be on the top of everything that moves and charging systems should be required at every gas station.
There are many other important issues, from immigration to education. Since I am not running for anything I must vote for Bernie Sanders. His platform best fits what I espouse.
Presidents don't rule by decree. We also need a Congress that would follow the aforementioned agenda or something close to it.
John Culleton writes from Eldersburg. His column appears every second Tuesday. Email him at cct@wexfordpress.com.
