The managing partner of one of our affiliated accounting firms in Germany in a recent conversation with me observed that ironically Germany had moved away from a socialist philosophy over the past twenty years after having demonstrated that socialism doesn’t work, and simultaneously the former bastion of capitalism, the US, was embracing and adopting that failed economic model.
It’s incredibly distressful that so much long-term damage can be inflicted on our economy in such a short period. Even presuming that the Left will again make the same mistake that the prevailing party seems to make after each election-viewing their win as an unfettered mandate for their previously rejected policies-and be swept from office, the damage that likely will be exacted in tht next two years will take decades to reverse, if it ever can be.
Talking and writing about it increases awareness but does nothing to staunch the blood flow. We can’t wait fro the interim election. What can we do now?
Mark Bailey, CPA
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