Letter: Best hope for economic future lies with the young
Remember the founding of America in 1607 at Jamestown, Virginia, was a business venture. The war against King George was about his government’s tax schemes and rules governing the wealth of Americans. The first American Revolution was primarily about winning our economic freedom.
The peak of our greatness was when capitalism, invention and innovation were least encumbered by the actions of government. Our free market has allowed billionaires and the richest middle and lower economic classes of any major nation in the world. .
Over the last hundred years, our state and federal governments have increased taxes and regulations which have made it increasingly difficult to enjoy the rewards of capitalism. Also, government-established entitlement programs and wasteful spending schemes have dramatically increased.
Social Security, federal service, and veteran benefits are earned because the recipients paid into a plan or traded their services for benefits. The unearned entitlement payments doled out to the physically and mentally able-bodied who refuse work are wrong and unjust. Wasteful spending and the uncontrolled growth of government agencies are killing our economy.
It’s taken a long time for the treasure of our republic to be diminished and teeter on the brink of destruction. Sadly, it will be a long time before our economic health can be restored. The few citizens who intelligently participate in the political process are firmly planted on the left or right side of their political and economic ideologies.
In conclusion, the best chance for a seismic change to our economic future will be the real paycheck shock coming to our younger working classes. The shrinkage of their real take-home dollars will awaken the most "low-information" voters to action. They will become increasingly impatient and angry with all politicians. In the near future, social progressives may happily continue to legislate and grant every manner of financial pork while laying more and more taxes upon our younger taxpayers. But a breaking point will occur and the diminishing number of burdened taxpayers will revolt and reverse current voting trends.
If politicians allow our Constitution to work, we could witness a peaceful economic renaissance. But, if the corruption and arrogance of power transforms our politicians into modern-day King Georges, we may witness another American Revolution.
I am hopeful the reaction of my tax-paying children and grandchildren will cause good changes. As they are forced to pay for the social dreams and wasteful spending of politicians, their take-home pay and standard of living will decline as their taxes spike. Their reaction may topple the status quo and shake our world.
Our best chances for a meaningful economic and political renaissance or revolution lie with our young.
Charles T. Joyner