Steve Forbes, author of “Freedom Manifesto,” says free markets get a bum rap. He talks about the President Obama, the flat tax and magazine publishing.
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Steve Forbes on the Free Market, Obama, Flat Tax and Future of Magazines
It is not just about free market. It's also about internal and lower scale politics between suppliers and buyers. Unfortunately the government is only a 1% of the picture. And what it's really all about is consensus – since the really successful businessmen are a minority, they are also getting taxed more because all minorities are subject to bullying by the majority.
He's so out of touch sadly, let's talk business models and math, that what rules today and it's not fair as algorithms run 24/7 on servers making life impacting decisions about all of us.
Mr. Forbes. should have been President. I don't know why parents raise there kids to be envious of other people fortunes. Tell your kids, if you work hard, don't break the law, you can be successful. Invest 33% in the Vanguard 500 index fund, 33% in a balanced Vanguard Index Fund, and 33% in the Vanguard Emerging Market Fund. After a period of time you will be rich.
As welcome as it would be, there will be no flat tax.
The reason is simple, as the majority of Congress' power emanates from their ability to annually Gerrymander the tax code – which is the very reason myriad lobbyists crawl about DC seeking largess for their represented vested interest.
The self-serving sycophants in Congress are Not about to surrender such a large source of power.