In order to get the people to believe the US is the best place to do business, it must first BE the best place to do business. And this involves creating the proper incentives. I truly believe that a large part of this needs to begin with a massively overhauled tax code similar to what I wrote about in today’s newsletter.
Just like in a company, if you want your employees to do the right things without having to micromanage them, you must create the proper environment with incentives to do the right things. In a company you want to create a situation where the employees do what you want without having to constantly tell them what to do.
In the US, we need to do the same thing, but on a larger scale. We need an effective tax code that gives the right incentives to invest and be productive. Right now we penalize good investment and reward bad investment and consumption. In order to change this, it will take massive change at the core level.
The people need to be educated. The problem is generations of people now have an entitlement mentality and the democratic voter base gets larger with every increase in government spending. It is a brilliant move by the dems to broaden their voter base and force the productive members of society to carry the burden. But eventually the mule’s legs will break. And when that happens, there will be no one left to carry the burden.
We are living in Ayn Rand’s novel, “Atlas Shrugged” right now. Now we must chose to either protect ourselves or continue to fight the battle.