Article 1, Section 8 of the United States Constitution says Congress has the power

“To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standards of Weights and Measures”

Congress should eliminate the Federal Reserve or veto many of its decisions. If the Federal Reserve continues to exist, 2 members of the United States House of Representatives and 2 United States Senators should sit on the board of the Federal Reserve. If 3 of these members of Congress wants a Federal Reserve decision to be vetoed, it should be vetoed. If the majority of the United States House of Representatives wants a Federal Reserve decision to be vetoed, it should be vetoed. If the majority of the United States Senate wants a Federal Reserve decision to be vetoed, it should be vetoed.

Congress should seriously consider backing our currency with gold, silver, and other commodities. This may reduce the probability of high inflation.

If people are less worried about inflation, they may be more likely to save and invest. If businesses are less worried about inflation, they may be more likely to hire workers and invest. If banks are less worried about inflation, they may be more likely to lend money. High inflation may cause a lot of harm to people on fixed incomes.

The least that should be done to grow the economy and create jobs is the indexing for inflation of capital gains, interest from savings accounts, and dividends. If the capital gains tax is not indexed for inflation, peope may pay the capital gains tax when they have actually lost money because of inflation.

If the federal government is serious about growing the economy and creating jobs, it should stop taxing capital gains, interest from savings account, dividends, and estates. Businesses would have an easier time obtaining loans and investments for hiring workers, research and development, and plant and equipment. People would have an easier time saving for down payments on homes and fixed rate mortgages, college tuitions, and retirements. Middle class people and union members who have mutual funds would benefit from capital gains and dividends not being taxed. Banks might be more willing to loan money.

The federal government and State governments should reduce the minimum wage over time and eventually eliminate it. If the minimum wage is increased, teenagers and former prisoners will have a harder time obtaining jobs and skills. If the minimum wage is increased, many people will lose their jobs, the hours of many people will be reduced, many salaried workers will work more hours for the same pay, and prices are likely to increase. If the minimum wage is increased, the recession may get a lot worse. If the minimum wage is reduced, banks may be more willing to loan money. If the minimum wage is reduced, companies may be more willing to invest and hire workers.

If unions want to increase their wealth and power, they should buy the majority of the stock in many small companies and startups so that they are able to make the decisions. This may be a better usage of their money than political campaigns. Unions may want to buy stock in many large companies and become active shareholders and help pick boards of directors. If unions own stocks and the federal government stops taxing dividends and capital gains, unions would benefit.

The federal government should sell a lot of the land it owns to raise capital, reduce the national debt, help fund Social Security and Medicare, help fund passenger rail, help fund buses within cities, help fund buses between cities, help fund energy transmission, help fund energy development, and do other things. Some of the money from the sale of the federal government owned lands should go to State governments. If you type federal government owned land on a search engine, you might be surprised at how much land the federal government owns.

Congress should seriously consider allowing casinos and hotels especially hotels for the wealthy to be built in many national parks. The federal government could obtain property taxes from these casinos and hotels, a percent of sales from these casinos and hotels, and a 5 percent rooms and meals tax from these casinos and hotels. State governments should obtain some of the money the federal government obtains from these casinos and hotels.

If Congress had learned from the Savings and Loans Crisis and regulated properly, the mortgage mess might have not taken place. Congress should require down payments on homes and fixed rate mortgages to make future mortgage messes less likely. Banks may want to turn many foreclosed homes into low income apartments and middle income apartments. Banks may want to turn many foreclosed homes into apartments for disabled Veterans and apartments for other Veterans.

I graduated from the University of New Hampshire in 1992 with a BA Degree in Political Science and a minor in Economics. I ran for United States Senate from New Hampshire in 2002. My website is http://www.myspace.com/kennethstremsky