Originally posted by squeezyjohn
Definitely, i think from a young age we are taught about the free market here. It's not something you can really explain to a child but this is the free market and its the best if anyone says anything should change then they want socialism or even worse communism and thats not free those people are evil....Not something that happens word for word but something that is definitely instilled in our minds. It's something we learn so early on that people reject it without knowing what it really is. People don't realize cash for clunkers was socialism. You could sell your old worthless car for way more than it was worth to get a new more gas efficient car. Collective bargaining in most of our sport leagues, thats socialism. What i was saying about the current social security/medicare/medicade though its a little bit more complicated than raising taxes. At our current rate of increase on that all of the taxes provided by the government can not support that just by itself by the year 2030. So the gov't brings in taxes of 10billion well guess what that program is costing us 11 billion in 2030. So we not only cant afford that but anything else the government spends for. Obviously the numbers are larger just an example.
Our country has had quite a recovery but still the main problem is still here. People do not know how to live within their means. Housing prices were booming so people were taking mortgages they couldnt afford because **** it by the time they forclose i'll have enough equity in this house to sell it and turn a profit since home prices are going up 7% a year. At the same time banks were making incredibly risky default swaps because it could turn them a profit....as long as people didnt default. They knew how risky these were and continued to make their portfolio contain almost nothing but these default swaps. Noone has the discipline to try to work for the things they want. I want to travel the world with my wife after i retire. I'm 20 years old and already have a 401k plan (not sure if this is something england has) most of my peers wont even start one until they are 35, if ever. More and more people are retiring either in debt or with absolutely no savings. People live outside their means their entire careers until they realize that paycheck they get every week wont come in when they retire.
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