Jim believes that free enterprise capitalism is the best system for our nation. The efforts of millions of people have contributed to make the strongest richest most powerful nation in the world. Albert Einstein called compound interest the 8th wonder of the world. When money is invested and the interest is reinvested it can double in value in only eight years. This is how the rich get rich, by using credit carefully, saving money, and investing it. The opportinities to do this are great in America and that is why people come here. To get a job and prosper.
Here are some examples of the power of investment. Two sisters in Pasadena, California, Gene and Agnes, worked in the post office, saved their money, bought some real estate, bought annuities and insurance policies and left millions in their estate. Bob bought a mutual fund for $2,000 in 1962. He sold it in 1912 for $180,000, 90 times his investment.
During times of social and economic problems, it is good to have some insurance. Governments have taken a large role in the insurance business especially in health and retirement. The benefits are inferior to private insurance because there is no investment. But politicians have learned that government benefits are easy to sell and give them political power.
Now it is becoming more difficult to invest for our selves because of the tax burden taking away the money we need to invest.
I propose that we invest the payroll taxes now designated for welfare in American business boosting the economy and providing financial security for the worker. See the tab on social security for more details.