Restoring the American Dream – Part 3: Three Possible Solutions
Unhampered capitalism is the only social system that protects an
individual’s life, liberty and property. It is the solution to our economic
problems. Natural and Economic Law proves this is true.
Government interventionism violates individual rights. Any
interference with voluntary exchanges is in violation of Natural and Economic Law.
Government’s legitimate function is protecting an individual’s life,
liberty and property. It protects individual rights by enforcing
objective laws against involuntary exchanges (criminal activities).
The question is: How do we adopt a system of unhampered capitalism—and
relegate the government to the role similar to that of the night
watchman at a factory? In Part 2, I also mentioned that government should
play the role of the “Maytag Man.”
I am now presenting three possible solutions. This is by no means an
exhaustive study. It would take a comprehensive book to cover all the
needed solutions.
The Immediate Solution
It is immoral for someone to live at the expense of another.
Government intervention in the marketplace institutionalizes this obvious
violation of individual rights. Protecting the individual’s life, liberty
and property is the only legitimate function of government. Anything
beyond this has undesirable consequences.
We can eliminate all government agencies that aren’t protecting an
individual’s life, liberty and property. This means abolishing any agency
that is interfering with voluntary exchanges.
Both the Federal Income Tax and The Federal Reserve System become past
history. Taxes and inflationary money are vehicles that plunder the
productive individual. They are nothing more than theft—and any form of
stealing is immoral.
Unemployment insurance, social security, minimum wage laws, food
stamps, corporate welfare, anti-trust laws, foreign excursions, etc. will
have to go. Nobody has the right to live at the expense of others.
Government has no money of its own—so it obviously doesn’t possess the means
to support others—unless of course it does so by taxing its citizens
and (or) inflating the currency. We must eliminate all transfer
payments. Stealing from productive citizens to give to others is wrong.
We must repeal all victimless crime laws. We will immediately release
from prison all offenders jailed for these offences. Prosecutors will
drop any pending victimless crime cases. This alone should eventually
eliminate at least 75% of property crimes.
Government will relinquish its control over our road system. Any
business that results in the death of thousands of its customers per year is
obviously inefficient. Private ownership of the road system is the
only viable system. Free enterprise is always (without exception) more
efficient than government bureaucracy.
Private firms can handle all voluntary business transactions—and that
includes the mail service currently performed by our postal system. If
you have recently stood in line at the Post Office for up to an hour
just to mail a certified letter—you know their inefficiency is out of
control.
Government will no longer interfere or prohibit voluntary exchanges or
any consumption that results from these exchanges. An individual owns
his life. All individuals can consume whatever they desire.
The 5% Solution
Unfortunately, it’s unlikely that the above logical and moral solution
is politically acceptable to the vast majority of people. We have to
admit that many individuals are now dependent on government for their
very survival. How would an eighty-year-old senior citizen, whose social
security check was his only source of income, survive? How would
elderly and handicapped people receive medical care if suddenly their
Medicare and Medicaid benefits vanished?
I will state outright that these people have no right to live at the
expense of others. Unfortunately they have been conned into believing
otherwise. They have been led to believe that they are actually entitled
to these benefits.
Politicians, altruists, do-gooders and other assorted world-improvers
convinced these people that a free lunch was not only possible—but also
socially desirable. The mass media did their part by feeding innocent
people vast amounts of propaganda, convincing them that government
handouts were the road to prosperity and independence. And they fell for
it completely. They allowed the destruction of their freedom and
self-reliance
Now you might tell me that they have minds of their own and could have
resisted this barrage of lies and misinformation. I agree. It
certainly would make everyone’s lives much easier if these people exercised
their reasoning abilities—and resisted the half-truths and lies altruists
feed them.
Sadly, only a very small percentage of people have the ability to think
independently and creatively. The artificial booms that governments
create to give its citizens a false sense of prosperity have tricked
even independent thinkers.
*Although I am not happy to have to present the 5% solution, I believe
it is immensely better than where we are now. Still, people have to
learn that theft is theft—even if altruists claim it is for a good cause.
Some of the measures presented as immediate solutions are
necessary—such as the repeal of all victimless crime laws on the books. These
liberty violations must stop now! We can solve other problems with our 5%
solution.
We can eliminate all government benefits and transfer payments at a
rate of 5% per month. If a person is receiving a monthly transfer payment
of $1000 his payment will be reduced $50 per month. This will give
him a chance to adjust to the new situation.
Also all government spending will be reduced 5% per month. We will
also reduce The Federal Reserve System and the Federal Income Tax at that
rate. A 100% gold Standard will replace The Federal Reserve system.
If a minimum tax is required to support government’s function of
protecting life, liberty and property it will have to be set at less than 5%,
although the goal of any libertarian is to abolish all taxes.
We may have to supply social security benefits to elderly people for
the rest of their lives. Some can no longer take care of themselves. I
know—nobody has the right to live at the expense of others. Maybe— only
altruists, do-gooders, world-improvers, absolute moralists,
politicians, bureaucrats and their supporters should bear the burden of support.
Gee—I just discovered one occasion when wishful thinking is both
pleasurable and logical. Unfortunately, the ones forced to pay the taxes
probably represent a majority—and would offer great resistance to this
idea. Fortunately, the unprecedented economic boom that results from
these reforms and the unleashing of unhampered capitalism will no doubt
cause charitable organizations to thrive—so this might be unnecessary.
The rest of us must face the fact that there is no social security
fund. Government squandered all the money as soon as it got its greedy
hands on it.
Finally, we will see prosperity and abundance that is unheard of
today—the government withers away.
*The 5% is calculated from the original amount each month. That means
that all benefits and transfer payment are eliminated in 20 months
The 1% Solution
We would resort to all the measures listed above, but we would do it at
a rate of 1% per month. The advantage of this is that it gives people
a much longer adjustment period—and they would probably feel less
pressured and more comfortable with this method.
The disadvantage is trusting government to honor this program for eight
years and four months. It’s difficult to keep a politician honest for
one day much less for over eight years. Plus, special interest groups
would apply pressure, forcing him into making “exceptions.” Of
course, everybody knows that exceptions usually become the rule.
I am uneasy about anyone living at the expense of others—even if it is
for only one second. It is immoral. Still, even the 1% solution would
be considerably better than what is taking place now. We are
currently on the road of ruin—the destruction of the American Way of Life. The
American Dream is close to becoming history. “Bye, bye Miss American
Pie.”
Conclusion
Unless we take decisive action to implement unhampered capitalism.
Until we begin acknowledging Natural and Economic Law—hardship, misery,
flagrant liberty violations and economic crisis will be the “New American
Way of Life.” We will forget The American Dream ever existed—because
“The American Nightmare” is our new reality.
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