The old adage goes, “The rich get richer, and the poor get poorer.” The Democrats accuse the Republicans of protecting the rich. The Republicans accuse the Democrats of giving too much money to the poor. When you think about it, there is some truth in both statements.
I think it’s true. The rich do set up the laws and the system to protect themselves and keep them rich. But every coin has two sides. Anyone in America can become one of those rich people. And they can help as many other people throughout the world as they choose.
The government is in the process of spending hundreds of billions of dollars to protect both rich and poor in the next few months. The challenge is that we don’t have any money at all! The government has already borrowed $10 trillion, and has every intention of borrowing more and more. In fact, they’re planning on borrowing at record pace.
But here’s the problem. In a futile attempt to help everyone, the government is actually helping no one. Through spending and borrowing more and more money, they are actually making all Americans poorer. The reason that most people are unaware of this is that we don’t know or care about paying back the national debt.
So what’s the solution? I think the solution is that instead of spending money by giving people a free lunch, or businesses a tax deduction, there is a much better way. If we could inspire all Americans to succeed financially, to find ways of making money without having it given to them, that would be awesome. It would be a whole new paradigm of stimulus.
And the same could be done for businesses. To inspire all businesses to improve their profitability through innovation. That could make a major change in the economy. If we can educate people on how to launch their own business, then they can make money without depending on the government. If we can teach businesses how to perpetually improve their products, services and value proposition, then we can increase the GDP by double digits. And we can even solve the problem of the national deficit.