July 4, 2008

American Revolution II

There is no single impediment in the way of making the poor rich than the refusal of the political class to give the poor and middle-class back 15.3% of their lifetime income to invest in their own economy for the 40 to 50 years of their working life. As Americans save so little today (it often slips into negative figures) what better way to make America wealthier than to make all its citizens millionaires?

The Democrats derisively called the first phase of the supply-side revolution the “trickle-down” theory. If we made a class of rich people that invested in the economy it would trickle down to the poor. It did just that. However, by comparison to the wealth showered on the “rich” by “trickle-down” a great gap in comparative income and wealth has evolved.

The only recourse ordinary Americans have is the power they exhibited in 1776 to fight the totalitarians of the British Crown. Today, it is going to take a grass roots movement on the part of the American people. People on Main Street will benefit by becoming wealthy and people on Wall Street will benefit by making the capital markets explode with a massive source of new capital. The only people scarred by this revolution will be the politicians whose entitlement industry will be dismantled and their ability to dictate how Americans have to suffer an era of limits or other political cruelties will be extinguished.

Read entire article here.

posted by : Left Coast Conservative on July 4, 2008
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