MISPLACED PRIORITIES: Chinese Supercomputer Likely to Prompt Unease in U.S. - WSJ.com
As Zakaria discussed on Bloomberg with Charlie Rose this week, the US isn't investing enough in research.
In fact, the US isn't investing enough period. Zakaria points out that in a democracy like the US, thinking is 'short-term' and consumption oriented - especially when the poor and middle class are able to consume goods and services they don't have to earn or save for.
As a result, the productive part of society is tapped to pay for things they don't benefit from.
Wouldn't it be interesting to have a flat maximum tax rate (personal) of say 15%. If that tax rate doesn't afford fancy Medicaid or other social spending or big benefits under Medicare, then the benefits would have to be cut back?
As it is now, we sacrifice investment for 2 more years on a heart-lung machine for a 95 year old; plus, of course spending $60,000 a year to keep someone in jail, while not letting kids afford college; etc.
Thursday, October 28, 2010
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