Practically speaking the U.S. problem right now is an economic regulatory structure that has been gamed in favor of the older established companies. As well as those older rich families which have accumulated wealth. It is these groups that have made it more difficult for new companies to take root and establish themselves. The more complex a regulatory environment is the more opportunities for mischief both fiscal and political arise. Also let me not that both parties are currently very much infected with rich upper class people. The republicans are at least honest about it to a degree. The Democrats on the other hand make a big to do about being concerned about the poor but when the time comes to do stuff more often than not their efforts end up benefiting the same upper class group they belong to. However I will observe that above certain levels tax rates tend to depress the amount of money that comes into government coffers.
Also let me note that neither party is at all that good with budgetary math. Or for the matter at all capable of setting a clear long term economic policy without injecting all sorts of poorly thought out and at times half baked not so brilliant ideas into the mix. Take a look at the corn ethanol based biofuel incentives which have been an example of sheer criminal waste. Or for the matter the entire issue with Freddie Mac and Fannie Mae which was known to be a building crisis as far back as 2003. (One of the reasons I think that a certain Democratic senator whose name starts with F needs to go). If I had my druthers every financial company above a certain size would be broken up into three or more companies to ensure that if one company goes into crisis it doesn't bring the entire financial system down with it.
Note that as consequence of growing up in Latin America I'm much more skeptical about public employee unions than private sector unions.
--Werehawk--
My mom's brief take on upcoming Guatemalan Elections "In last throes of preelection activities. Much loudspeaker vote pleading."
Also let me note that neither party is at all that good with budgetary math. Or for the matter at all capable of setting a clear long term economic policy without injecting all sorts of poorly thought out and at times half baked not so brilliant ideas into the mix. Take a look at the corn ethanol based biofuel incentives which have been an example of sheer criminal waste. Or for the matter the entire issue with Freddie Mac and Fannie Mae which was known to be a building crisis as far back as 2003. (One of the reasons I think that a certain Democratic senator whose name starts with F needs to go). If I had my druthers every financial company above a certain size would be broken up into three or more companies to ensure that if one company goes into crisis it doesn't bring the entire financial system down with it.
Note that as consequence of growing up in Latin America I'm much more skeptical about public employee unions than private sector unions.
--Werehawk--
My mom's brief take on upcoming Guatemalan Elections "In last throes of preelection activities. Much loudspeaker vote pleading."