Sounds a bit simplistic, but when you really think about what has happened to our Country in the last 50 years it does come down to money; and what we invest in in our Nation. In the 1950s Ike invested in the Super Highway system. Not only did this benefit everyone in the Country, it also produced a tremendous amount of jobs.
In the 1960s President Kennedy set a goal of sending a man to the moon and bringing him back by the end of the decade. This also was a large government spending program that created a lot of jobs. Many benefits came from this including velcro and the Internet itself. Where would we all be now with no Internet? The Billions of dollars that have been earned from it, the countless jobs created; it has literally transformed the world.
The 1970s were a bad economic time for our Country. Not to mention the first American President to resign.
The 1980s is when we started to go off track. Instead of investing more in our Country President Reagan and his administration played with the tax codes, allowing wealthy people to have many more tax breaks than ever before. As we know the net result of that is what we are going through today with the vast income inequality. But, what caused all of this was bringing in less money to the Federal Government.
Less money means we can’t even keep up with what we have in the way of infrastructure, bridges, airports. It also means there are no new investment programs to bring our Country more into the future. Hence, the downward slide.
The Trillions of dollars spent on useless wars is a travesty when that money could have been used for America’s future. Yes, we were attacked on 9/11 and yes we had to retaliate strongly. Instead we had a half assed strategy that 13 years later is still a mess. Planning? The Afghan war should have lasted no more than 2 years. Iraq? We can’t forget all of our frames of mind so closely post 9/11. President Bush had strong bipartisan to go to war in Iraq. But, again, strategy? For the purpose of this piece I am discussing the wasted money.
What aren’t we investing in that we should? To start, fixing and upgrading our infrastructure to 21st Century standards. This includes airports, roads, bridges, schools. We want Americans to be the best and brightest and we aren’t. Because we haven’t been investing in ourselves. Think of 6 pack abs. If you don’t consistently go to the gym you won’t have them anymore. And, this is what has happened to our Country.
I don’t like it when I hear people villainizing the rich when they are actually following the law. I don’t believe in wealth redistribution.
What to do? First, change the tax laws. Don’t let people or Corporations legally hide money overseas to keep it from being taxed. Get that money back in the Treasury. Second, close loop holes that only benefit the wealthy. Mortgage tax deduction is great, but keep it to only your first home and primary residence. Change the tax code so if you earn more you pay more. That to me is totally fair.
I am saying, change everything. Perhaps if you have a net worth of $40M you shouldn’t be collecting Medicare or Social Security. The point is the Federal Government needs to start massive future programs that will once again let the U.S. be number one in everything.
We have been investing in tax cuts and should be investing in the future of the Greatest Country on Earth!