Decades ago Americans obtained what is currently an independent country; thanks to their forefathers. The independence brought forth liberation and individual responsibility and the two would lead the nation to abundant fortune. Today, the country has the largest and most successful economy in the world. The prosperity is as a result of four values the United States adopted. They are individual sovereignty and responsibility, diminished rates of taxation and a limited role for the government.
Through the years, the Americans have used the above four as pillars to their success given the US economy a powerful name. It is way ahead of so many other economies, considerably older. However, there was a drastic change of events after the passing of the Social Security Act (SSA) aimed at helping the aged have some income. But this would result in reduced sovereignty and increased taxation rates.
Between now and then, a lot has happened and have cut down on sovereignty and responsibility. Programs such as Medicare, a program, which provides healthcare to the old people are now at their minimal performance. Well, the Americans may not complain about the program in as much as taxes keep increasing. It has also taken away the government involvement.
Notably, a lot of programs the government is introducing are seemingly hitting back at those who seem able to handle them. A vast majority of the Americans are of the opinion that pitches offered by presidential candidates are not suitable for the US citizens. A proposal by Bernie Sanders, which outlines about people owning up to their healthcare is one such example. And it could be wrong. The same applies to the call by Elizabeth Warren to have student’s university loans repaid by society.
Nonetheless, it seems time has come for the Americans to reclaim back the element of distinct responsibility and freedom.
There must also be basic principles, which will guide the economy to growth. More individual responsibility and non – government involvement in the affairs of the economic are likely to promote growth. All said and done, it remains to be seen how soon the government can pull out its involvement from various industries.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.