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The major themes within the economy these days continue to be upcoming tax increases, new proposed bailouts and wealth transfer programs, and increasing federal debt. Matthew Lynn, the author of “Bust,” a forthcoming book on the Greek debt crisis, says that the debt crisis in Europe may be undermined by opposition to bailouts. What he Continue reading Prosperity’s Robin Hood – Taxes from the Rich and Bailouts to the Poor In 2006, during the height of recent prosperity, the Labor Department shared two statistics: 1) Only 60% of the 110 million private-sector employees were covered by a workplace retirement plan. 2) Many of those 60% who were covered fail to participate in their employer’s plan. 3) 30% of Americans have no retirement savings. 4) Half of all 401(k) participants Continue reading Our Low Savings Rate – Is our Government an Enabler? The Puritan Work Ethic values of working hard helped make the U. S. a highly productive and wealthy society. Max Weber, in his 1930 book The Protestant Work Ethic and the Spirit of Capitalism, demonstrated how that work ethic made specific countries prosperous. Fast forward to 2010. Economist Casey Mulligan at the University of Chicago points out Continue reading Hiring Disincentives and Unemployment Incentives – The Demise of the American Work Ethic? Will big government bring us prosperity? How big we decide to have our government – now 25 percent of GDP - will impact our prosperity – our ability to build wealth from domestic companies (we can always tap growth in emerging markets), the tax bill to pay for transfer payments to others, the regulation that affects Continue reading Will Big Government Give us Prosperity? Federal Spending is 25% of GDP Prosperity is a destination, a lifestyle, a journey. It’s happiness, fulfillment and enrichment. Defining prosperity is a personal exercise as each of us defines it in the context of our values, our aspirations, our goals. We also define it by our experiences. How we define it changes as we grow, as we learn, as we experience Continue reading “Before I Die” – Preparing For, And Living, A Full Life |
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