Bob wrote:Here's the thing that worries me most about the future of our country.
Overall, my parents's generation amassed a fairly good amount of wealth.
My generation not as much but some.
It wasn't because my parents' generation was smarter or better. Or that my generation is smarter and better than those which have followed.
It was because their generation and my generation lived during the peak years of American economic prosperity.
BEFORE America had to get in competition with the emerging regions of the world.
Following that, our country found itself competing with literally billions of others in those emerging nations. And as a result of that, our slice of the pie has over time gotten smaller and smaller.
The wealth of those earlier generations is significant because it continues to prop up what's left of our economy. It supplements the dwindling incomes of the present. But for how long?
Once that wealth is depleted, our country will then totally rely on those lesser incomes for it's survival.
Where are the revenues then going to come from. For education. For health care. For defense. For retirement. For capital investment and economic development which is the only thing that actually could create future jobs. For infrastructure. For leisure. For anything and for everything.
I'm afraid the answer is continual decline. It's goddamn depressing to face this reality. But putting on rose colored glasses just makes that dismal future rose colored. It doesn't change a thing.
You're not even close.
My parents did better than theirs, I have done much better than my parents. My grandparents, and my parents both had far, far lower taxes than we have today. We had far fewer regulations, which cost far less. People did not depend on health insurance if they had a cold or the flu. They paid when the doctor came and we didn't have the vast array of technology, pharmaceuticals or new techniques.
We also didn't have a President who is heck bent on turning this into a European style Socialist economy even though he watches it fail in Europe.
Further, we didn't have millions on welfare, food stamps and 67 other welfare programs. It was embarrassing, humiliating to take money from the government. You worked and earned your own.
Low income families especially black low income families once had a strong family unit and now one of the weakest. Teaching their young and out of wedlock children that work is not necessary, simply ride to the polls and vote for the name with the (D) so they are rewarded with more freebies.
Sincerely,
Howard