Any country is able to control its economic destiny through a multitude of policy and regulation. Most of all if it has a productive workforce that is generally enlightened and happy this should not be a big deal.
However we live in an imperfect world. Thence there is never a 'Ram Rajya' (utopian existence) in practice. What every country ideally also strives to achieve is a balance between what it spends and what it earns in order to service its own debts, maintain public services and run the government.
Not as easy as it sounds. Partly a mystery that many an economist has put their minds to and proposed theses that sometimes echo in the halls of B schools - Adam Smith's Invisible Hand idea to Samuelson's Marcro Economic models et al. It should be noted that ironically Samuelson (a brilliant mind that had lasting impact on the science of Economics himself was born in Gary, Indiana which for many years ranked as the WORST place to live in the entire Unites 50 States. That he later graced Harvard and MIT to compile his works and educate us generations is a miracle.
Back on topic of my 'dis'Interest in how our government tends to run things and does more to TAX the brain than not.
Governments use two key tools to regulate the P&L statement for the country -
Monetary policy or Regulation of Interest Rates charged to lend monies to regional and private banks in the country; as well as
Fiscal Policy - regulation of Taxes applied to everybody else's earnings.
What we have now is a situation where the effective interest rate the FEDERAL RESERVE (debatable name) charges to lend money to other banks is ZERO. They are giving the DOLLARES away.
As it relates to TAXATION it is worse than a wild zoo with its occupants on pysechedelics. The Tax code actually encourages people to consult tax attorneys (who may or may not be equipped to provide any meaningful advice) to software companies that simplify the process to get people to part with their earnings.
What it also does is to allow individuals with the time or money to define ways to evade (legal) and in some cases avoid paying taxes owed to the government of the USA.
Instead what really should be happening is that the government which already has access to all my documented source of income should process the TAX due and send me the bill. They tend to deduct at source as well so the year end note should be more like a Christmas card - wishing us all well for the future with the taxes I paid YTD serving as my gift to SAM.
So much for the 50 page tax return exercise. It will be another nail in the mail service coffin who has to today ship all the junk papers I file with all its forms and schedules and sub schedules to some black hole in the IRS coffers where some nitwit then pores over it to confirm if it is correct. I mean this resembles the India of 60 years ago where people were building dams and roads with a broken shovel because we could not afford machines and had too many people.
A capitalist government should really focus on capitalizing and not socializing the ecosystem; through efficiency and not charity (in the form of meaningless jobs).
However we live in an imperfect world. Thence there is never a 'Ram Rajya' (utopian existence) in practice. What every country ideally also strives to achieve is a balance between what it spends and what it earns in order to service its own debts, maintain public services and run the government.
Not as easy as it sounds. Partly a mystery that many an economist has put their minds to and proposed theses that sometimes echo in the halls of B schools - Adam Smith's Invisible Hand idea to Samuelson's Marcro Economic models et al. It should be noted that ironically Samuelson (a brilliant mind that had lasting impact on the science of Economics himself was born in Gary, Indiana which for many years ranked as the WORST place to live in the entire Unites 50 States. That he later graced Harvard and MIT to compile his works and educate us generations is a miracle.
Back on topic of my 'dis'Interest in how our government tends to run things and does more to TAX the brain than not.
Governments use two key tools to regulate the P&L statement for the country -
Monetary policy or Regulation of Interest Rates charged to lend monies to regional and private banks in the country; as well as
Fiscal Policy - regulation of Taxes applied to everybody else's earnings.
What we have now is a situation where the effective interest rate the FEDERAL RESERVE (debatable name) charges to lend money to other banks is ZERO. They are giving the DOLLARES away.
As it relates to TAXATION it is worse than a wild zoo with its occupants on pysechedelics. The Tax code actually encourages people to consult tax attorneys (who may or may not be equipped to provide any meaningful advice) to software companies that simplify the process to get people to part with their earnings.
What it also does is to allow individuals with the time or money to define ways to evade (legal) and in some cases avoid paying taxes owed to the government of the USA.
Instead what really should be happening is that the government which already has access to all my documented source of income should process the TAX due and send me the bill. They tend to deduct at source as well so the year end note should be more like a Christmas card - wishing us all well for the future with the taxes I paid YTD serving as my gift to SAM.
So much for the 50 page tax return exercise. It will be another nail in the mail service coffin who has to today ship all the junk papers I file with all its forms and schedules and sub schedules to some black hole in the IRS coffers where some nitwit then pores over it to confirm if it is correct. I mean this resembles the India of 60 years ago where people were building dams and roads with a broken shovel because we could not afford machines and had too many people.
A capitalist government should really focus on capitalizing and not socializing the ecosystem; through efficiency and not charity (in the form of meaningless jobs).
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