Something wrong with that phrase. 
Posted on 12/17/2006 5:43:49 AM PST by frithguild
Don't solve "problems." When you solve problems, you feed your failures, starve your strengths, and achieve costly mediocrity.
Nothing good is going to come from political haggling over some bogus social security crisis decades in the future, when our economy will be entirely different and hugely more productive.
We have to get beyond the idea that any reshuffling of taxes and spending today will improve the economy's ability to support medical care, housing and transport for the aged, such as myself, in 2027. That will depend not on actuarial trumpery but on the realities of productivity, technology, and immigration.
Only if we raise tax rates and regulations and cripple the GOP and our defenses with delusionary spending cuts can social security become a crisis. Yet that sums up the likely grand compact, doesn't it? Higher tax rates in some form or other, some jerrybuilt pension scheme full of government regulations on our financial markets, and gimcrack spending cuts that end up focusing on defense.
We should take the offensive. Lower tax rates will yield the additional revenues and borrowing power we need to sustain social programs for the aged in coming decades.
As a key first step, we need to reduce the payroll tax by at least one third.
Indeed, as part of a flat tax program, we should eliminate the payroll tax.
Make the Democrats talk about that, not about spending cuts, which always turn out to focus on defense. In a dangerous world, we will need defense.
Eurofare economic policies like Germany's would obviously destroy our ability to supply goods and services to coming generations. Under those conditions we would have to inflate away the liabilities one way or another. It may be horrible, but no conceivable compact with the Democrats today can save us from the nemesis of socialism. Indeed, a compact with the Democrats will tend to cripple the necessary Republican resistance.
If we keep our tax rates low, however, we will discover that this economy in future decades can easily sustain the necessary 40 trillion dollars of additional debt. Read Ken Fisher's The Only Three Questions That Count [here is a link to buy that excellent book at Amazon, and here is a link to my review of that book for SmartMoney.com - DLL].
He believes that the US incurs too little debt compared to the productivity of incremental investment. His regressions show that the larger the budget and trade deficits the higher the stock market. We already command a steadily growing resource of some $110 trillion of assets. We are already running an all-governmental surplus. Our corporations are laden with cash. Our current debt asset ratio is sub-optimally conservative.
The only thing that matters, as you know, is economic growth. Focus on that. Let Democrat accountant economists grouse about debt.
Don't solve problems. Pursue Opportunities. This is the Wealth creation website!
George Gilder
Well, we certainly don't want to keep Yoy poor and stupid, now do we? (He might never learn to spell.) ;)
YOY!
I think Yoy Guilder was George Gilder's grandfather's name, before it was "Americanized" by a clerk on Ellis Island...
"Yoy" is a poster typo, not found on the linked page. Gilder ("Wealth and Poverty") is a well-known conservative economist.
Yoy vay!
YoY? Isn't he Time's "Person of the Year"?!
Something wrong with that phrase.
Socialism: if you can't beat them, join them - by cutting taxes.
That's all yoy got out of that? What a nit picker.
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