Comment 27132

By A Smith (anonymous) | Posted November 02, 2008 at 14:02:15

My numbers regarding government spending on fixed investment were not accurate.

Last year total government spending on fixed capital was 3% of GDP. In previous decades, when GDP growth was greater than today, this number was closer to 4.5%.

In recent decades, government spending on basic research has also decreased and has been replaced by greater near term consumption.

This shift to immediate gratification has slowed the growth in the economy, which in turn has slowed real wage growth for workers.

Grassroots, my argument against handouts is not born out of anger against those who are poor. I understand that everybody deserves the right to be treated decently and have opportunities for success.

I don't however, the best way to do this is by taking money from the rich. In fact, I would argue the opposite is true.

In 1977, the top 20% of US taxpayers contributed 68% of income tax revenue. , while the bottom 60% paid 13%. In 1995, after marginal rates had been cut, the top 20% paid 77%, while the bottom 60% paid 7%. The top 1% saw their share climb from 20 to 29% over this same time period.

I believe that by shifting the tax burden ever more to the very rich, it creates hardship for the average person. Things in this world work to balance each other out, so reward must be balanced by work/contribution.

Allowing the rich to do more of the contributing, ensures that they will get most of the rewards.

Therefore, if you want to bring the rich down a few pegs, the best way to do this is to lighten their tax burden by contributing more yourself. Think of it as "killing with kindness".

I know myself, that if I am angry with someone, and they are are nice to me, it saps my will to want to get back at them. Their kindness makes me want to help them instead.

I believe the same technique should be used by those who are angry at the rich in our society. Rather than fighting against them in anger, turn the other cheek and try to help them, yes, try to help the rich.

It sounds completely nonsensical, but much of life is like that, just think about George W Bush becoming President of the United States.

Anyways, whatever you are doing know isn't working and in fact things are getting worse. The gap between the rich and the poor continues to grow, so why not try something different. If it doesn't work, then feel free to tell me I am full of s%#$.

Just stop attacking your enemies and start helping them instead. A very smart person gave us this message many years ago and I know that if you try it you will see that it works perfectly.

Permalink | Context

Events Calendar

There are no upcoming events right now.
Why not post one?

Recent Articles

Article Archives

Blog Archives

Site Tools