Have you noticed how things we used to be able to do are beyond our capabilities now?
We finally reached a point where we were able to provide free university education. Then we grew wealthier, and some countries couldn’t afford it anymore.
Some of us still have universal public health care systems, but they’re increasingly a chronic burden. Maybe they made sense once, but it’s only a matter of time before they go. Sure, Cuba can do it, but they’re poorer than us.Too bad. We used to be able to afford good stuff when we were poorer.
Those impoverished Soviets somehow managed, all those decades ago, to provide free housing, health care and education, subsidized holiday accommodation, guaranteed employment and virtually free public transport. There’s no way we could ever have done anything like that, let alone in these prosperous times....
heteconomist
We’re Wealthier Now, We Can’t Afford That Anymore
Peter Cooper
4 comments:
"Those impoverished Soviets somehow managed, all those decades ago, to provide free housing, health care and education, subsidized holiday accommodation, guaranteed employment and virtually free public transport. "
Anyone know where I can find reading materials re the above?
Methinks there are some AUD zombies afoot...
Back in the 1930s and 40s, we'd build art museums, lodges, swimming pools and golf courses because we wanted better quality lives. Now we give people $25,000 to put solar panels on their mansions. And $7500 to buy the latest and greatest sports cars and 20% capital gains tax and tax free pension savings. But we can't afford to subsidize state universities, electric, housing and water subsidies for the poor, or healthcare. Funny world collective wisdom of politics delivered, not that all the random opinions expresses at polls would ever lead to a rational set of decision making.
Complexity has increased.... so that requires more man-hours to produce/administer/regulate....
You have to pay for those man-hours via LEADING flow... ie NOT net flow measured ex post...
Fed leading flow is too small... or since we have withholding type taxes the taxes are TOO HIGH...
Trump's cuts in withheld personal income tax are going to help... as is the higher interest rates which will increase leading flow to savers...
It will get better..
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