[American Thinker] Twelve thousand divided by 67 equals 179. But 179 of what? What if the 12,000 was money and we were dividing $12,000 by 67 years? If a government were to consider giving every citizen a Christmas gift of $179.10 yearly from birth to retirement age 67, the consensus opinion of that government would be that it is the ultimate Ebenezer Scrooge!
Few would guess that the same sum, $12,000, given in a lump sum at birth would amount to almost $1 million ($922,000 to be exact) at age 67. This would be received by both male and female citizens, mending a long-term gender bias. In addition to money, all citizens, present and future, receive free educational support: pre-school, K-12, adult, parental, vocational, and on-the-job. (This at a time when 70% of citizens have less than $1,200 in ready assets and 48% have no investment assets, and inflation grows.)
People have a hard time thinking beyond the present moment. It’s a short-sightedness that clouds the minds of most of humanity. Too often, we fail to consider the long-term human capital consequences of today’s actions. And we also ignore the ability of financial capitalism to evolve—to compound. |