Imagine your political leader proposes setting up a system that rewarded the people who squandered everything and penalized those who saved? Sounds like a real winner doesn't it?
If you were one of the to be penalized, how quickly would you sign up for such a program? How long would you stay in? You would be better advised to pursue the path of the squanderer. No penalty for risk since you can lay the cost of failure on those foolish enough to expect a raining day. I would not expect a program like this to last very long and I truly hope we stop before the penalties get too high.
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I honestly don't think I'm exaggerating to say that we're seeing early signs of civilization rot. I know that sounds melodramatic, but ... both politicians and voters have finally realized that, in a democracy, it's easy to vote to have somebody else clean up your messes. Politicians love to spend other people's money to buy votes (and yes, this is essentially vote buying.) There will always be more irresponsible "grasshoppers" than there will responsible "ants". So you win re-election by making the grasshoppers happy. Pffft - screw the ants.
We're getting very close to that magic 50% tipping point - where 50% of voters do not pay (net) income tax. For them, government is a magic pot of money that promises them $1000 "tax breaks" as long as they vote the right way, wink wink. Think I'll go dust off my copy of Atlas Shrugged.
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