http://www.atimes.com/atimes/Global_Economy/JK22Dj01.html About the author....... David P Goldman was global head of fixed-income research for Banc of America Securities and global head of credit strategy at Credit Suisse.
We are certainly at a tipping point where Americans will have to decide if they want craddle to grave entitlements and 70% tax rates, essentially working for the government, OR do we chose to reduce/limit government and keep our overall freedoms, which is what the country's founders intended. If we choose socialism, I would estimate that around 20% of the population would see in increase in their standard of living, although it would be a slight increase. 20% would stay about the same and the remaining 60% would see their standard of living decrease, in my opinion. With captialism, you'll still have winners and losers, but at least it will still be up to you to determine your lot in life. I definately feel more confident about my abilities to make a life for myself and family, than I do about the governement determining my fate.
The free market really did a good job this time. 40 times leverage is the way to go. Government needs to be there to save us from ourselves.
Yes, the government has such a great track record of success with regards to economics. Their money mangement is fantastic. Hopefully health care and pensions will be run just like SS. Wait until going to the doctor is like going to the DMV. Your whole day wasted sitting in a waiting room full of "the people".
Someone help me out here. We're running mind-boggling deficits now, *without* these socialist programs. This could easily double our deficit spending. It's impossible.
The only people who need government to save them from themselves are those who have no sense of personal responsibility and have never grown up.
Exactly. If government further involves itself in retirement and healthcare, tax rates for the middle class will go to 70%+. Not to mention that the goverment will still find a way to overspend what they are taking from us, yet our quality of life will slip significantly. Advocates of socialism, please point to areas of goverment efficiancy in this country, not including our military.........
Employers pay for it in the form of a benefit right now and rest is covered by individuals in the form of premiums and deductibles. Taxes will have to go up for both businesses and individuals, hopefully it would be a wash (less expenses but increased taxes).
I am not a socialist but please point to where business has done a real fine job lately. Unfortunately because of business greed and mismanagement, more government intervention will happen.