Bush abandons Free-Market
As if we didn’t know this to be true so long ago. I think in retrospect, I will look back on the Bush presidency and add to his list of failures how he tainted the term “Free Market” and has made the Left and most of the country believe that the Free Market is unable to self-regulate and provide better solutions to our problems than the government. For someone who I had such high hopes for 8 years ago, I am truly disappointed.
Category: Government
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Capitalism that rewards individual efforts, ideas and honest achievements is good. Raw, unregulated capitalism that rewards dishonesty is bad.
Haven’t we yet learned our lesson?
Everyone that made money off the questionable loans they generated have already collected their commission and are getting off scot-free leaving the investors who purchased their tainted securities holding the bag.
When are you guys going to wake up and realize a free countries vitality should not rest on loans? We should not all have to live through debt, is this not an obvious paradox to everyone? Is everyone in this country really this asleep?
Country’s *
Max Shapiro,
OK, then you will agree with me that the Bush tax cuts that increased the national debt were wrong?
Mind you I got some benefit from the tax cuts. Just not as much as the wealthy, they got more.
The end result of the tax cuts was an increase in the national deficit.
Everybody wants everything and nobody wants to pay for it.
You all keep missing the point. All of our money is created by debt, through debt, it makes no sense to have a system built like this. Our government loans us the money we EARN through labor. Its a giant scam, we need to totally reconstruct our monetary system to make it actually fair and logical.
The only “reconstruction” we need to do is follow the directives laid out by the smartest collection of men in history, also known as the Constitution.
The economic problems we face now are not because of unregulated capitalism. Rather the problems we face come BECAUSE of the government’s interference in the economy.
If we removed government intervention in the free market system, then the market would right itself. Unfortunately the left’s only answer to the problems we face is “more government” and even many on the right’s only answer is “more government is bad, but we have to make exceptions right now.”
An understanding of free market economics in the school of Bastiat, Hayek, and Rothbard will allow us to continue our economic system without worrying about hyper inflation and the virtual destruction of the dollar.
Markets go up and markets go down, however it is the government’s incompetent entanglement in the system that causes more problems.
When was the last time the government ever did anything right? Why do we assume they will all of a sudden get their act together now?
The men you speak of wanted a debt free money system, not the federal reserve, not the bank of the united states, they wanted money paid into existence, not borrowed. Thomas Jefferson thought banks were more dangerous than standing armies. Destroy the fed or enjoy being enslaved. There is no other path to success that does not run through the ruins of the fed. Someone disprove me, please just try to tell me I am wrong…
you are correct Max. and the major problem of today is that the govt will not allow the liquidation of bad debt. instead they perpetuate it and prolong and exacerbate future “bailouts”
LittleDavid, while tax cuts may not always reduce tax revenue, the fault of the govt was to increase spending far beyond its income.
I would think liquidating the debt and giving some wealth to the people would hugely increase tax revenue, we need to go bankrupt and restructure our system along the lines of this fellows plan
http://douglassocialcredit.com/resources/resources/social_credit_by_ch_douglas.pdf
Around page 180 is where he goes into details about a better way, the rest of the book very methodically shows how our current system is fundamentally flawed. The very end is a draft scheme for Scotland. Keep in mind this was written in 1924…
Amit,
You stated:
“LittleDavid, while tax cuts may not always reduce tax revenue, the fault of the govt was to increase spending far beyond its income.”
There goes that canard about how cutting taxes always results in increased revenue. OK then, let’s cut the taxes to zero and balance the budget.
Doesn’t work does it?
Taxes should not be confiscatory so that enterprising citizens are not motivated. However I think we have passed the point at which tax levels ensured motivation and we’re now setting them based upon greed.
LittleDavid, you must have missed the word “may” in my statement. Regardless, personal income tax only accounts for roughly 45% of the Federal revenue.
The U.S. budget back in 2000 is about 60% of what it is today. Soooo, if the politicians could control themselves (or we actually cared enough to vote them out of office) we could get away from taxing individuals. Imagine if everyone got a 15-30% raise? Don’t you think that would help jumpstart the economy better than a bailout and inflating the currency?
If you want a laugh look up a chart of the money supply from 1913 to present and a chart of the national debt from 1913 to present…they are almost identical…
Amit,
We did vote them out of office. Enough of us started to vote for the Democrats that we’re now going to see what they do.
We tried the Republicans, and that did not work.
true, the GOP paid for escaping their core beliefs. but the problem is that they continued to “talk the talk” and have given Free Market a bad name. The Dems didn’t win by saying they were pro-Free Market but rather pro-Nationalization which I contend means increased spending and worsening our problems. but time will tell.
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