Ted’s letter was published in the August 20, 2015 edition of The Beacon, a weekly newspaper of the Roman Catholic Diocese of Paterson, NJ serving Morris, Sussex, Passaic counties. The letter:
This is in response to Robert Matrisciano’s 8/6 letter “Capitalism allows Christians to espouse biblical social justice”. The letter championed capitalism as a more effective means than socialism for social justice, arguing that individual freedom to utilize ones ‘treasure’ to benefit others is more effective than collective government policies.
Let us take the capitalism versus socialism argument to another level. Please reference Matthew 25:14:30 – parable of a master providing three servants with 5, 2, 1 talents respectively, expecting a return. The first two doubled their talents and were praised whereas the third one did not and was condemned.
Socialist ideology stresses that the Government provides all with cradle to grave entitlements, often with extreme confiscation of wealth in order to redistribute income and thus pay for wide gamut of entitlements, up to the point where the Government may find itself in heavy debt. Why? This is due to less incentive for one to increase income, thereby decreasing government revenues. The rise of increasing socialist economics in the US has created an ever increasing Dependency on Government class that feels entitled, to an extent, even to non essential, even immoral ‘entitlements’ such as contraceptives, stealing from tax payer revenue or borrowing further from abroad, deepening debt. Socialism degrades the human spirit to apply their God given talents to better themselves and the world. Free market capitalism, in contrast, provides incentives for all to develop their God given talents to the maximum. Which environment – capitalism or socialism – would best motivate the servants in the parable? The answer is easy. Study world economic history if you have any doubts.
I sent following to Bill O’Reilly:
De Blasio knows NYPD is not racist but he, along with Sharpton, Holder, Obama have following agenda:
Nationalize local police forces, via executive order IF the chaos against the police continues to escalate. This is a major prerequisite to a full socialist takeover. It is also up to us to state the obvious to our friends, family members, etc … so we can all peacefully protest this policy, DEMAND de Blasio resign, and elect leaders to reverse course.
** Bill – we are counting on you to step it up and call out these provocateurs on their agenda which is based on lies, else in a year or two someone will write a book ‘Killing NYPD’.
Bill – great reference what may indeed be going on with this agenda can be found at:
Look forward to your opening comment Monday 8 pm Jan 5!
Please read link way below regarding an interesting analysis and projection by successful investor Jim Rickards, with some great stats such as the Federal Reserve being leveraged 77:1; I believe that is up from 22:1 in 2008. Also note that $1 debt used to increase GDP by $2.41 in 50s and 60s; now this $1 increases GDP by only $0.03 and is in danger of turning negative, per Rickards.
1 theme he expands on therefore is that the Fed and Treasury are our greatest threat to national security. Rickards does predict an economy soon (perhaps within 6 months) that is quite similar to what Robert Wiedemer has been predicting for past few years – a $ collapse with severe economic adjustments required by the US. Reference AfterShock Economy:
Subsequent to further degrading of our debt and economic growth, Rickards foresees the possibility of the IMF bailing our Fed. The IMF is only leveraged by a 3:1 ratio.
i have not validated the stats or analysis but as i said – very interesting …
So how can we jump start the economy? Clearly tax reform must be one significant approach and be dealt with immediately. For more details visit — https://economics501.wordpress.com/category/tax-reform/
see link below
Following letter by Ted was published in The Daily Record June2 — http://www.dailyrecord.com/story/opinion/readers/2014/06/02/fair-tax/9802775/
I further expand on former state senator Ray Bateman’s argument that it is poor economic policy to tax the rich to the point where they leave the state. This not only takes away state revenues from their exit but also diminishes future revenues from the jobs many rich entrepreneurs create. In the end the state suffers from punishing income taxes. Tax more income and thereby expect less of it.
New Jersey should eliminate the state income personal and corporate taxes, thereby reward success (income), encourage more of it, and subsequently grow the economy along with more revenue potential for the state. New Jersey should then closely implement, at the state level, the Fair Tax. The idea is to replace income taxes with revenue neutral consumption taxes on new products and services. This tax reform at both the state and federal level would more strongly grow the economy, add new jobs, and thereby provide governments adequate revenue sources. Annual budget deficit woes may then finally become just memories.