posted on 08 December 2015
by Rodger Malcolm Mitchell, www.nofica.com
It is my very strong believe that the single most important problem in economics is the Gap between rich and the rest..
It's so important because it is not just a money Gap. It only begins with money.
Consider The Thirty Million Words Initiative:
The article goes on to describe the heartbreak of children being condemned to lower IQ by the accident of their parents' income - the tragedy of wasted potential.
The brainpower of a nation's children benefits that nation. The "brain drain" includes not only smart people leaving a country, but the nation cheated out of its children's intellectual potential.
By cutting benefits to the middle and lower classes - food stamps, Medicaid, unemployment compensation, good schooling - and by working to destroy unions (unionized employees earn more), the politicians cut America's potential.
The rich may say the poor deserve their poverty, them being lazy ("If you give them anything, they won't work") and unmotivated, but that false belief works against America's future competitiveness.
The single best way to "Make America Great Again" (as Donald Trump bellows), is to eliminate poverty and to lift the lower and middle-income groups. If Trump truly believed his own slogan, he would opt for the Ten Steps to Prosperity (below).
The income/wealth/power Gap translates into an education Gap, a health Gap, a creative Gap, a motivation Gap, an opportunity Gap and many other related Gaps, the narrowing of which would benefit all Americans.
In many respects, America is a team, where the contributions of each member benefit the whole.
The next time you feel resentful that the poor may be "receiving more than they have earned or deserve," remember that their future contributions benefit you. This is what really makes America great.
No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
THE RECESSION CLOCK
Recessions come after the blue line drops below zero.
Vertical gray bars mark recessions.
As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka "stimulus") is necessary for long-term economic growth.
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