"The knowledge and prudence of the poor themselves, are absolutely the only means by which any general and permanent improvement in their condition can be effected." - Thomas Malthus
Is Milton Friedman among your "revered economists"?
So basically, this thread is 'do you like communism?'.
I like the idea of everyone sharing everything and no more poor or starving AND no more masses being dominated by the rich.
But, unfortunately, I do not think it is possible at most people's present level of development (probably including mine).
Maybe, if we are still around, in a century or two.
My five economic reforms?
Give me all the money and trust that I will distribute it fairly.
Actually...1) a rock solid balanced budget amendment to the Constitution (except in times of a declared war or declared, nationwide natural/medical disaster); 2) build and run government shelters in every major urban area (food/clothing/shelter/basic medical) which take the place of all federal welfare except for social security (which will be gradually phased out) - but continue aid for the mentally/physically disabled; 3) full healthcare for all children that need it; 4) close all foreign U.S. military bases and no troops to be stationed outside of America except during a declared state-of-war; 5) give all the money to me...er...tax reform. One tax rate for all citizens (except for first $8-10,000 earned) for both capital gains and income with no deductions except for charitable contributions AND end all corporate/business taxes.
Oh, and 6) end the Fed and let free market forces determine interest rates.
Last edited by DA60; 01-07-14 at 06:10 AM.
'What kind of sick and twisted toy factory is this?'
'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
"Better to be dead and cool, than alive and uncool."
Although the accusation gets thrown around falsely a lot, the rest of his suggestions pretty much do seem like communism.
If you build a man a fire, he'll be warm for a day.
If you set a man on fire, he'll be warm for the rest of his life.
The millennials have a very stark view of capitalism. There just doesn't seem (to them) to be any way to succeed. If you're not well versed in 'puts' and hedge fund gambling, it's harder and harder to find suitable work.
Imagine that you are work doing what you normally do, except you are getting paid five times as much because the wealth of the nation divided by the number of citizens gives you that amount. Astronauts, surgeons, and grave diggers all make that same amount. Would you be willing to accept the higher income? Would you like to have a new home built on a land claim that you go out and find for yourself? I mean, thats's the way it was in our nation's formative years. Sooners, 49ers, a mule and forty acres, and acres for $2.00 each were normal for those times.
Millennials were born after the good times. They feel left out.
They are owed just for existing. life doesn't work like that. You don't have to be well versed in puts and hedge funds. if you just make smart finicancial decisions with your money when you get older you can be rich.
if you put away 25 dollars a month into some kind of investment fund for 45 years you will be a millionaire by the time you are ready to retire with cash on hand.
that takes finanical disipline though.
why by an surgeon or astronot if you are going to make the same as a guy bagging groceries? the reason that people go into those fields is that they know they will make more money.
right now most fo the land in america is owned by the federal government.
you can blame the fed. in the good old days the interest rates weren't high but where decent enough to spurn savings and investments. now you are lucky to get 1% on a CD. the consistantly poor pay out on just simple savings has made it harder for middle class people to get ahead.
heck i remember when a saving account would pay 5% and you could earn another 2 or 3% on your checking.
now you get charged for having a checking account and you might get .5% on savings.