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08/22/2010

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We shall defend ourselves to the last breath of man and beast. (William II, King of England)

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We badly need tax reform, education reform, health reform, immigration reform, environmental reform (with emphasis on climate control and preserving biodiversity), repeal of the drug laws, a reduction in economic inequality (with particular emphasis on improving the lot of the black underclass), a better transportation network, and a slimmed-down public sector.

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Competent people already face decreasing marginal happiness with increasing income. So, progressive taxation makes it all the more difficult for society to tap their full higher potential. Hence, slower growth.
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All that glitters is not gold.

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I don’t put much weight on public opinion polls that show a drop in Americans’ optimism about the economic future of the country.

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