We Could Have Owned The World:
We could have owned the world. Seriously! And by "we" I am not talking about the United States of America, our nation. And I'm not talking about "our government" either. It should be known that those two should be one in the same but that's really been nothing but a myth for the last century or so. No, the "we" I'm speaking of is us, you and I, as individuals.
So why am I writing about this now? Two simple words, "new deal". Last year Democrats felt an obligation to use this term in no less than every other sentence. Then the craze (or craziness) died out during the presidential campaign for the most part. Now it is beginning it would seem to make a resurgence. Democrats have been using the term more and more of late.
After all "New Deal" is a term that harkens back to their glory
days of FDR every time we hear from the loony left about the joy, wonderfulness and equality of socialism. But lets face facts, and real history. Would FDR ever had been elected if Teddy Roosevelt were never elected? The answer will never be known with complete certainty but my opinion is that Teddy opened that door for the Roosevelt name and was a much more beloved character, a character who had character. Voters, it seems, expected another Teddy.
And of course there was World War II. Voters are always inclined not to make a change during a war that magnitude, one with all the marbles on the line. After all, it was "kill or be killed" for our nation and what was then a free world of many different nations (not the nonsense that is today's "European Union"). It was a time when Americans wanted stability of leadership and less uncertainty, a very different mindset than the uninformed populous now electing "leaders".
The real truth is WWII was won by patriotic Americans who gave their all, be it on the battle line or here back home on the assembly lines. The real leaders, just to name a few for example purposes, had names like Patton, Bradley, Nimitz, Halsey, etc and note too I neglected to name Eisenhower and MacArthur, both good battle strategists but truly wannabee politicians-in-waiting. But as far as FDR he was a walk-in (or to be accurate, a wheel-in for a third term). It's always the guy sitting behind the Resolute Desk that gets ("takes" to be honest) the credit.
The entire scenario was a socialist's dream come true. Hero-worship status while he took control of our purse strings under guise of making our lives "better".
And it was doomed to failure. A planned doom to exert even more control over our very existence.
First off, it took in social security taxes for four or five years to fill the piggy bank with seed money without paying out a dime. Boatloads of cash poured into government coffers. Of course the entire scheme did nothing to assure that the money would ever go back to the men and women who worked for it and paid into it.
An even greater flaw was the fact there really was no place to invest it either. So it sat there earning nothing. When you think about the future you think about making investments that will grow over time such that when you do retire the investment process will have multiplied its value to meet the naturally rising prices of goods, services, housing etc.
Had the government "invested" the money in no time at all they would have owned every security in every company. Every share of stock, every corporate bond ever issued. Simply put the government would have owned everything including you and me. Even a socialist like FDR could see that would be too much, too soon, especially after just winning a war that cost countless Americans their lives fighting to save "freedom" from tyrannical "leaders".
At the same time, no limits, no rules, no legislation was ever enacted, limiting the power of what the government could do with the money you earned but never held in your hand. Somehow people fell for it, it was still a time when people actually believed the government was working for them, for their good. The line "What a bunch of saps!" comes to mind.
I think it's safe to say that everyone is familiar with the line that "Wealth begets wealth." It is an eternal enduring truth. It's something every family desires for their offspring, some achieve it, some don't. But nonetheless it's true. It's desirable. It fits the American Dream. In the end it benefits the entire nation by reducing the need for welfare, for gaining a better education, for creating incentive to learn more and earn more. Simply put, it's the head start every parent wants for their off spring. It provides them with upward mobility, better educations, less stress, better health and more money to spend thus creating even more jobs and more wealth while reducing the ranks of the unemployed, (and reducing the crimes that people with no job tend to commit to survive).
That should have been the goal of government and could have easily been enacted into law that all Americans invest a set minimum percent of their income into investments. We would have run into the same issue as the government did with Social Security taxes; What to do with the excess money. Well for one thing it would have made more capital available to start even more companies which in turn would have created more growth and more jobs, but even more importantly the governments take, taxes, would have skyrocketed from increased earnings in existing businesses and also from new start ups being successful and increasing the base of tax paying businesses. And what politician doesn’t like to line their own pockets and boast about how they made that possible?
And eventually all Americans would own their stake in the "Land of the Free", been invested in our success. And if we ran out of investment vehicles here we could have been investing in businesses outside of our own country.
Yes, we "the people" could have owned the world.
And FDR killed off the prospects all by frosting a donut with icing and sprinkles. And in one huge slight of hand took away control of your destiny. Accomplishing the socialist's goal of making people dependent on the whims of politicians, the haves, and leaving the rest of Americans the prospect of being the have nots. And that's how this country of our came to being the mess it is today.