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| Economy |
| There is a way in which the government can increase wealth |
| 2021-12-19 |
| [American Thinker] Twelve thousand divided by 67 equals 179. But 179 of what? What if the 12,000 was money and we were dividing $12,000 by 67 years? If a government were to consider giving every citizen a Christmas gift of $179.10 yearly from birth to retirement age 67, the consensus opinion of that government would be that it is the ultimate Ebenezer Scrooge! Few would guess that the same sum, $12,000, given in a lump sum at birth would amount to almost $1 million ($922,000 to be exact) at age 67. This would be received by both male and female citizens, mending a long-term gender bias. In addition to money, all citizens, present and future, receive free educational support: pre-school, K-12, adult, parental, vocational, and on-the-job. (This at a time when 70% of citizens have less than $1,200 in ready assets and 48% have no investment assets, and inflation grows.) People have a hard time thinking beyond the present moment. It’s a short-sightedness that clouds the minds of most of humanity. Too often, we fail to consider the long-term human capital consequences of today’s actions. And we also ignore the ability of financial capitalism to evolve—to compound. |
| Posted by:Besoeker |
| #3 In addition to money, all citizens, present and future, receive free educational support: pre-school, K-12, adult, parental, vocational, and on-the-job. Very democratic and socialist. Stipends for being a citizen. I suppose the voting non-citizens will go for it. Free education? Is it a benefit for the unwilling, unable, incapable or just plain angry? Broad brushes sweep all in their path. |
| Posted by: Skidmark 2021-12-19 18:22 |
| #2 ^ Good comment, B. The leverage Musk has is that he is a leading maker of the Holy Electric Car that will be our salvation from the wages of fossil fuels. Or not. |
| Posted by: Matt 2021-12-19 09:15 |
| #1 Our government is well aware of the benefits of long-term economic or monetary compounding. It is the equitable distribution or sharing of the compounding which they appear to be reluctant to undertake. Proofs abound, but one current example of our politicians understanding can be found in the recent spat between AOC and Pelosi over the stock market investments of congressional members. FDR understood the concept of compounding as well. Mandatory Social Security accounts, when fenced, and left to earn would create untold levels of national wealth. Problem was, the fund was too tempting and eventually become merged with the federal budget where it quickly become invisible and exploited. In other words, it is stolen from the annuitants and redistributed elsewhere. Imagine if you will a country of Elon Musks calling these thieving bastards in Washington out at every turn? They simply cannot permit it to happen. |
| Posted by: Besoeker 2021-12-19 07:12 |