MzMia -> RE: Surrendering Opportunity for Success by Pursuing Survival (10/30/2008 8:51:04 PM)
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ORIGINAL: samboct Oh good grief- I for one, would rather pay more taxes and have a chance at making more money. If we ignore all the red herrings posted above, what's happened in the last several decades has been pretty clear- 1) The role of gov't has to be to provide an infrastructure to let an economy flourish. There are plenty of unregulated economies out there- look at most of the countries in Africa as an example. Neither democrats nor republicans have done a good job of building infrastructure- Clinton did a better job of maintaining what we had, but all the republican administrations from (and including that vile SOB Reagan) have done a great job of dismantling the regulations and structures that were built during the 30s-60s. 2) Specific examples- a) the FDA is a mess- it takes way too long to get drugs through the pipeline. b) The patent office is a mess- there are tons of overlapping patents which means that VC people won't invest in new companies- patents are often a significant part of a company's valuation. c) Health care costs are crippling both citizens (if one more @#$%@$#% politician calls me a consumer, I'm going to feed him/her various body parts, very, very, slowly.....) and businesses. d) Essentially our legal system has run amok. e) Defense is a mess. We have a navy that could take on the rest of the world and defeat all countries handily (probably the same for our air force), but we don't have good body armor for our troops on the ground. We also haven't used our technology to spot and defuse roudside bombs without rolling our troop carriers over them- a tactic which must have Zhukov chuckling in his grave. (He just marched his troops over minefields and accepted the casualties.) We've spent billions on idiotic weapons systems which are only useful at night and during bad weather (B-2) and the COTS program (commercial off the shelf technology) has meant that all that defense spending hasn't had much success creating commercial spin offs. f) Our highways are a mess- they were designed in the 50s and we've got 50% more traffic since then. Our bridges are collapsing and there are potholes in major traffic arteries that limit speeds and damage vehicles. g) Our free press is collapsing- we've got corporate censorship because we've thrown away the regulations that prevented the formation of oligopolies. h) Our science and engineering institutions are crumbling. We used to get a steady supply of students from China because US students knew that a career in science sucked. Well, now the Chinese students in our schools are returning to China when they graduate because there are better opportunities there. (India's a bit different, but the far eastern students made up a larger percentage of our grad students IIRC.) However, lawyers and finance majors are not in short supply. 3) The end result of this republican assault on brainpower has been a dismantling of our meritocracy. We've had a system where for the past decade certainly, the lack of wealth mobility has meant that our best and brightest people are picking up the trash of rich morons who were either born wealthy or got lucky. (Anybody see the piece in the NYTimes on the guy who isolated the green fluorescent protein that two other guys got the Nobel for? He's driving a courtesy minivan at a Toyota dealership.) 4) Anybody who bellyaches about the redistribution of wealth and ignores social security/medicare has managed to tiptoe around the elephant in the living room. The biggest redistribution of wealth the world has ever seen has gone to the elderly getting social security- not means tested because that would make it welfare, but the folks that are collecting it often never put in the amount they're getting out. Never mind that its a rob Peter to pay Paul system. 5) The end result of taxing the wealthy will be a renewed chance for a meritocracy- bright people who work hard may actually be able to make a decent living again, instead of watching McMansions get built. It doesn't translate to government handouts- it does translate to a chance to build wealth instead of allowing the rich to get richer- which is what's been happening for decades. 6) Old, rich money is useless money. It's risk averse, it wants guaranteed rates of return with no risk. That doesn't exist, but led to the nonsense of believing that financial companies could actually deliver it. Anybody wanna buy a bridge in Brooklyn. Financial companies may accumulate money, but they certainly don't build wealth- wealth comes from an educated work force and manufacturing goods. This is why China is rapidly becoming a wealthy country and we're going downhill- fast. Money is a lousy way to measure wealth. 7) Good investment money comes from pensions of the working class- money that has a long time horizon and isn't risk averse. McCain seems to promise more of the same. Obama's prescription of replacing fossil fuels, tackling tort reform, education etc, means that he's at least identified a bunch of the major problems and has offered some solutions. They may not be the best solutions- but it's a better start than anything I've heard from anyone else. If we get our economy growing (for real this time, instead of the paper growth of the past 8 years) we might have a chance of earning more money. Yes, we'll have to pay more for the infrastructure for this chance, but in my book, that's money invested wisely. Sam [sm=applause.gif][sm=applause.gif][sm=applause.gif][sm=applause.gif] Thank you so much for a thoughtful post Sam. This post is long, but it hits so many nails on the head. Our country is spiraling downhill into an abyss as I read your words. The Republicans have had 8 years to steer the wheel and help drive the country into almost total ruin. Why is it that President Bush gets a pass from so many people? President Bush surely will go down in history as one of the worse Presidents, ever. Let the people decide and vote for who they want to help dig us out of the shit hole we are sinking deeper into every day. I have had to endure 8 years of a President that I never liked and did not vote for. The good news is Senator Obama can not be worse than President Bush, that would be almost damn near impossible! [:D] I am sure those that dislike Senator Obama will survive. I was always told that if I did not like President Bush and his policies that I could leave the country. Anyone that does not like our next President and his policies can also surely leave the country. PEACE
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