The Bern is back, and it seems the self-avowed Socialist movement is on the rise. Join us as we unpack why managed economies simply won’t ever work.
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Puzzle Of The Month:
[3:51] – This Episode Gets Political.
- We don’t want to be offensive, and we believe we can have calm, rational discussions about politics. In fact, our conversation will mainly center around economics.
[5:05] – A Socialist, Managed Economy Just Doesn’t Work.
- Bureaucrats just can’t effectively manage an economy. The free market is the best manager of economic resources, and it’s the pursuit of self-interest that leads to incredible innovation. However, this is the year of self-avowed Socialism. The Bern is back, so we need to address this school of thought.
[6:18] – Socialism Is A Romantic Idea.
- Of course it’s wonderful to think that everyone will wake up, do their fair share, live comfortably, and eliminate poverty. Unfortunately, that’s not how the world works. Every time Socialism has been tried, it’s only survived via enforcements and the deprivation of human rights.
[7:00] – Governments Don’t Create Money.
- If you want the government to command the economy, fine. Just understand, the government doesn’t create money. Citizens create money. True Communism would seize all resources and force the people to work for the government. That probably won’t happen, and therefore, the other option in a managed economy is massive taxation.
[8:06] – Medicare Costs Will Continue To Soar.
- Of course, the conversation today centers around universal healthcare, and politicians don’t seem to care that healthcare costs are rising astronomically. Regardless of whether universal healthcare continues to develop, Medicare costs will most likely continue to rise.
[10:00] – The Danger Of Rising Taxes.
- If you’re retired and taxes rise, you’ll have a serious problem. The government will tax your IRAs and 401(k)s, and if tax rates double, you could be in trouble.
[10:35] – Minimize The Taxation On Your Savings.
- Take advantage of tax-saving strategies. Get a copy of my new book, Defuse: 7 Steps to Saving Your 401k from the IRS. If you’d like to get it for free, call our office. Bottom line; you need a tax plan for your portfolio.
The Full Picture:
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