Maturity In Leadership

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Today's Washington Times has an op-ed piece titled, "Immaturity In Power".   The article makes some interesting points in its description of immaturity in the current 'political class':

"Current examples are all too numerous. Much of the present global financial crisis was caused by the issuance of too much debt by both governments and by private players. A mature thinker would understand that part of the solution must be a reduction in debt, and only an immature mind would advocate the creation of mountains of new and almost never-ending debt - yet this is precisely what the majority of the political class in the United States and many other countries is doing in issuing many trillions of dollars of new government debt."

The article cites the consequences of the massive debt the government has recently incurred.   Stanford University economics professor John B. Taylor has shown how the proposed additional U.S. government debt could cause 100 percent inflation over the next few years, which means most people will see their real standard of living fall as prices double.  The obvious solution for the immature members of the political class is to raise taxes, but in order to cover the debt, taxes would have to be raised 60 per cent.  This would kill any incentive to grow the economy by the private sector.

The article lists some other aspects of the immaturity in our political class.  The move by the countries with high taxes on corporations to go after revenues earned in low-taxed countries is another example of this trait.  Rather than act responsibly with their own economic system, they attack the people who are successful because of wise tax policies.

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This page contains a single entry by Granny G published on June 5, 2009 10:05 AM.

Actions Have Consequences was the previous entry in this blog.

Israeli Settlements is the next entry in this blog.

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