I'm all for smaller government and freedom of choice. The problem is that people as a whole can't govern themselves. In a small case, you see this all the time with "how did I get pregnant?" patients my sister had to have a chat with. In a large case, you see this with securities backed by sub-prime adjustable rate mortgages when interest rates are rising. Regardless, government intervention being the inevitable elephant in the living room, I still prefer the pot-bellied elephant (you know, from South Park?) over the full-sized one. Why? When they poop, it's not the size of my couch. I'm all for free markets, but I'm also for full disclosure. I suppose that's a form of regulation, but it's like fine print on a credit card application. "It was all there for you to read, and you agreed to it." One of Warren Buffett's keys to success is "don't buy something you don't fully understand". Why? It could be a piece of crap that looks like a piece of the world's best-tasting chocolate. There is relevance to this rant somewhere...
Ah yes. Spending. I dislike spending. I dislike it of all kinds. One of my big gripes with Bush is questioning why he didn't pay off principle on the loans we had taken out when we had a budget surplus. In my mind we've never had a surplus because a surplus as I see it is having no liabilities and cash reserves.
You could argue that I'm super right-wing because of that and because I'm all about classical economics. The truth is that I'm just stingy and selfish. I'll admit it. I'll type it again. I'm stingy and selfish. Actually, I'm frugal. I spend within my means. I have no debt. That's mostly due to being placed in a fortunate position, but there are plenty of ways I could go into debt. But I won't. Because I. Hate. Debt. I'm also selfish because if anyone doesn't know what he or she gets him or herself into and ends up in a world of shit, that's just too bad. In this country there are more than enough ways to dig out of that. It's not like Mexico where everyone is equally poor and scared for their lives. Keep this in mind.
Obama's win is indeed historic. It's really amazing to know that people who vividly remember segregation get to witness one of their own become President. It really does mean that anyone can take this job. Of course, why anyone would want one of the world's worst jobs is beyond me, but hey--some people get off on the power trip. Will he bring change? Absolutely. It won't be difficult for anyone to bring change to this current situation. Obama is an amazing orator. He may be the best speaker I've witnessed, and I remember watching the "well that depends on what the definition of "is"...is" indictment. Keep in mind 25 years old. His charisma, charm, thoughtfulness and energy have riled up the people supporting him. That's desperately needed. This country needs a boost in the trust of the system. We have way too many cynical kids out there... *shiftey-eye* No matter who won, the economy took top priority.
OK, so here's why I'm not happy he was elected. I foresee a massive wave of long-lasting programs a-la FDR's New Deal. I *hate* HATE HATE HATE seeing any withholding going towards Social Security. It irritates me to no end, and I have athlete's foot... The Social Security program is terribly managed. It's insolvent, and I'm paying for the opportunity to witness its collapse. I was all for its privatization. I voted for Bush to do that. It never happened. Then I found out the proposed rate of return on it. 2%. That's not even inflation. I would *lose* money with that plan. *sigh* That just made me mad. As my brother put it, "I voted for 2%?!? Fuck you!" I'm setting aside 12% of my paycheck to go to a 401(k), and I contribute $100 a month to a savings account and Roth IRA. Even though I'm saving quite a bit now, I'm still worried about retirement. As in, I wonder if I *can* retire. I do not count on Social Security's existence when I reach retirement age. Bush made one of the dumbest fiscal moves by going to war. He should have used the paper surplus to pay off principle on foreign loans. But no. It was used to pay for a meaningless war. So now that we have Obama in office, I foresee a lot of poorly managed, long-lasting Social Security-like programs. Most programs are poorly managed. Think about how much time you waste at your job. I know I can waste an entire day on the Internet. Slacking is out there everywhere. But I hope I'm wrong. I really do.
I'm also afraid of my job in 2010. This is because my bosses (i.e. the partners) make well over $250,000 a year. You see, in a partnership the profits and losses go directly to the owners known as partners. The company doesn't pay taxes. So now my bosses will have an effective 55% tax rate. If they can't afford to stay solvent, guess what? "If Obama gets elected, we'll have to cut two employees"--my boss. That's probably me because I was hired in January of this year.
I'm worried for these two reasons. Foreign policy? We'll be fine. Obama has that charisma and charm. Energy? We'll be fine. But I support nuclear and not ethanol. Ethanol is one of the most inefficient fuels ever discovered. Why the big push for it? Renewability. It's made from corn. That's it. I think we should find a way to improve existing renewable sources of energy such as wind and solar so that we can sell the ideas to other countries. How badass would that be for America? "Not only did we find a way to get off of foreign oil, but we found a way for you to do the same. Pay us $x, and we'll tell you how."
Either way, I think we're screwed in 10 years. This would be true even if McCain had won. This term will bring us out of the recession we're in. That would happen even if Bush could remain in office. Economies are cyclical. Live with it. What worries me is panic. "We have nothing to fear but fear itself" anyone? Do you know how hard it's been for me to convince my dad to keep his money in the stock market? He's giving in just like everyone else. That, folks, is fear. I, however, want to buy stock because I know it will go up. It has to on a long enough time line. I'll buy some as soon as I close. Oh yeah, I'm buying a condo. I'm saying there will be another recession in 10 years, but that's just speculation. Again, I hope I'm wrong. I'm just calling it as I think it.
So my taxes will go down some, but my bosses are screwed. So is my dad. Not only is he a surgeon, but he's also a sole practitioner. If you really want medical reform, you need to put the needs of the supplier first. Guess what happens when doctors become insolvent and retire early. At that point, it doesn't matter what my taxes are.
I will always feel overtaxed and underrepresented. But the truth, again, is that people as a whole cannot govern themselves. This is why I will never fully like any president or government.
I have to admit to feeling some regret about voting for McCain. You see, I didn't want to vote *for* him. I was voting *against* Obama. My real vote *for* a candidate would have been Barr, the Libertarian. Do I fully agree with Libertarians? Not entirely, but they really appeal to most of my ideals.
So, you want change? You truly want change? Elect a Libertarian. My dream ticket: Libertarian former CEO of a Fortune 100 company for president and an economist as veep. The only problem is that these people are too smart to get into politics. Why a former CEO? They spearhead ideas, work with numbers, work long hours, quickly make many large decisions, adapt to environments and they follow through with plans.
I'm probably too young to be this cynical, huh? I should buy The Devil's Dictionary...