Wednesday, February 23, 2011

Not So Awesome Facts of (American) Economy

This is one chart of eight, detailing the extent of imbalance within American incomes, tax rates and overall economy. If you've never had a reason to care about the economy, or just don't know what the whole "tax the rich!" argument is about, hold onto your hat, and take a peek at these charts.
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1 comment:

  1. Inspector ClouseauFebruary 28, 2011 at 3:59 PM

    It's pretty amazing that the argument is put forth with regularity and straight faces.

    Here’s a thumbnail of what it takes, in my view, for a society to be prosperous:

    1) An inventive / innovative class; people have to want to invent things and processes;

    2) Cross-culturalization, where multiple inventors get together and compare their inventions, and newer \ better inventions are created;

    3) Seaports or trade route intersections;

    4) Business flowing from invention / innovation;

    5) Decent jobs flowing from business, so people can take care of their families with pride;

    6) A reasonably decent life flowing from more people having jobs; and

    7) Education encouraging the repeat of the process

    Either some force in society sets this in motion, governs the process, and maintains it, or it does not. If you leave it to chance, you might be on top for a while but you will not be on top indefinitely. But that is a cost of freedom, when you do not direct people what to do with their lives.

    My suspicion is that China will be the next world power because they tell more people what to do, and they are more controlling. More free? Of course not. But more planning, organization, consistency, and coordination take place under their model. We in the U.S. use the “herding cats” model, and there are benefits and costs associated with it.

    We’ve needed more inventors for years, and few in our country have paid attention to that issue.

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