I will try to phrase this the best I can, I am curious as to how a country can add wealth and pay off debt. I can easily comprehend when products like food, oil, minerals etc come out of the ground and are sold abroad. I can comprehend when we process these same things and sell them abroad we add wealth. I can comprehend investing in education and creative thinking to create new products that will sell aboroad.
As a conservative I find myself at odds with my own party when it comes to how this wealth trickles back into the American society. I feel the American people invest in the infrastructure and the educations that make these things possible. I feel we need to get a bigger cut right off the top before off shore tax shelters make it no longer available to us.
What is the fairest and best strategy for a country to build its own wealth and economy?
If you’re a conservative, based on this paragraph you suck at it!
I kid.
Seriously though, Republicans and other conservatives seem to act as if every tax dollar goes to fund jobless, poor, Mexican immigrants who do nothing but sponge off the system and use their welfare checks to buy crack.
Wealth is created when tax dollars go to fund public works projects that create jobs and improve the infrastructure that both public and private sector needs to grow.
Rule of law and smart government regulation contribute to wealth creation. For example, the cost of complying with building codes is more than outweighed by the benefit of a hurricane, earthquake or fire destroying entire cities. How much wealth was destroyed by unregulated bankers in 2008?
Education adds wealth. A country needs smart people to think up ideas on how to make money and who have the skills to do it.
General sense of democracy and equality. Income inequality and rigid class structures tend to funnel wealth into a small group and keeps down smart, talented people who could create wealth-building ideas.
That’s all I can think of off the top of my head. I’m sure there’s more.
[quote=“msmith537, post:2, topic:689709”]
If you’re a conservative, based on this paragraph you suck at it!
I kid.
I really don't know what I am any more. I tend to favor investing in people rather than just handing out welfare checks. I feel like too may programs are geared toward buying blocks of voters. If not for that I might be a democrat.
Wealth is created in a capitalistic free-market system.
To understand how wealth is created, you really need to take Econ 101 and Econ 102.