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Investment Analysis Clubs / The BMW Method
|Subject: Re: Bargain hunting||Date: 11/13/2012 11:51 AM|
|Author: kelbon||Number: 40776 of 41511|
Entitlement spending MUST BE CUT.
There are perceptual issues at stake here. I think given the election results and the changing demographics of the country, the number one issue the majority of "the people" would like to see addressed is the perception and implementation of trust and fairness.
God forbid the government even attempt to raise money to help pay for its obligations. The fact that workers paid into social security all their working lives with the expectation of being able to withdraw at the end of the day be damned.
This attitude just isn't going to wash.
If you foresee a scenario where the "people start losing faith in the government" and the catastrophic consequences thereof, you need look no further.
In spite of the fact that raising taxes on the "one percent" won't solve this country's economic problems by a long shot there is a good argument to be made that it should happen anyway. There is a broad consensus that the very rich aren't paying their fair share and government has been enabling them, and been bribed by them. "Trickle down economics" is largely a myth perpetuated by wrong-headed ideology and/or self interest. As to how it impacts ordinary Americans' prospects and prosperity, given globalization: most jobs created via this route end up in China, or elsewhere.
A perception of fairness, trust, and compassion are necessary ingredients for a fully functioning and productive society. A leveling of the playing field, however slight, by raising revenue from those who can most afford to contribute a little more would be a step in the right direction, at least psychologically. After all, perception and inclusiveness are powerful forces.
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