Tag Archives: John Stossel
John Stossel’s article today is fantastic, and required reading. An excerpt:
Of course income is down lately, but it’s up sharply over the long run. The chart actually understates the gains because it doesn’t count benefits from new technology. A Kindle may replace a hundred books, but such gains aren’t visible in the government’s data.
As economist Don Boudreaux points out: “the government’s data also underestimates the middle-class’s increasing prosperity, for it ignores the shrinking size of households. In 1967, the average household contained 3.14 persons; in 2006 it contained 2.57 persons. This fact means that the real income for each member of the average household grew.”
Read it. Think about all the advances in technology that improve the quality of your life, and how the cost of that technology has dropped in the last 10 years.
Can someone explain to me how government run healthcare will solve the problem shown in this graph.
‘Cause I don’t see how.
I really am convinced folks on the left, including our current Administration, believe poor people are simply too stupid to care for themselves, and need to have their options limited by government.
John Stossel explains the credit card “bill of rights”, which is nothing more than the government limiting access to credit by increasing the costs (and thus the price) of credit.
Credit cards didn’t create consumer debt — they are merely a superior alternative to older methods.
As President Obama and other politicians demagogue this issue, keep two things in mind: Life would be more difficult without credit cards, and banks don’t have to keep issuing them. Be careful what you ask for.
Actualy, we are getting exactly what we asked for.