A question to all the economists out there.
I was thinking, as I typically do, about the dire situation of America and exactly what measures could be taken to fix it.
To me it's very simple;
Eliminate corporate taxes
Have a constitutional amendment that would limit fed, state and local spending and tax collection to a cumulative 15% GDP
and a bunch of other things, but in short unleashing the private sector, the animal spirits and the productive capacity of human nature to grow us out of this recession and dwarf our debt woes.
But then it dawned on me I have another theory - that the individual American, on average, is deteriorating to an entitlement slob and much like a cancer society is decaying as the cancer spreads and corrupts individual cells/people that makes up the whole.
I soon realized these two theories are in conflict with one another, and since I'm not a leftist, I admit I had conflicting theories and wanted to get your opinions on it.
Let us say we DO eliminate corporate taxes, replace income taxes with a sales tax, constitutionally ban governments from taking more than 15%, or whatever your wish list may be.
Has the basic unit of the economy, the individual, been so corrupted that there is no more animal spirits or entrepreneurial gung ho to actually avail themselves of that opportunity?
In other words say we get our wish list. Do you really expect Millineals and Gen X'ers to go and become the next Howard Hughes or TOny Stark?
It's an important question because one of the underlying premises is that there's always this gung ho entrepreneurial class of innovators and capitalists and dreamers and industrialists.
If you look around I see a bunch of Emo Kids and spoiled brats who couldn't run a lemonade stand if they got a Obama stimulus check.
Something to consider that even if we do the right things and implement the right policies, the society itself has become so degraded and decayed, it wouldn't matter.