“The rich ruleth over the poor, and the borrower is servant to the lender.” – Proverbs 22:7
“I, however, place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared.” – Thomas Jefferson, 1816
Americans are right to say that our country is on the wrong track and that our system is broken. We have watched food prices rise, gasoline prices skyrocket, and the value of our homes drop drastically, all with regressive incomes for the middle class.
Our financial system is set up to encourage undue risk taking in the financial system with the promise that if things get too bad, the government will provide a bail out with taxpayer dollars. Here, the wealthy and well-connected prosper at the expense of those who play by the rules. This moral hazard has corrupted the notion of free markets in our country.
Add to it the dramatic increase in tax loopholes, subsidized industries, and tax funding for the politically connected, and we have built for ourselves a system that structurally favors those who have money and connections already. This leaves those who want to make a better life for themselves stuck in a cycle of inflation-induced stagnation.
Some will be able to slip the surely bonds of servitude and become independent citizens, but we are robbing the majority of hard-working Americans from the opportunity to realize the American dream of financial independence.
Our duty is to change the policies the prop up established institutions to the detriment of free markets and new ideas. Neither established institutions nor new ideas should have preference in public policy, but rather a level playing field with few government-imposed restrictions and flat, predictable taxes.
Additionally, the current standard of deficit spending at every level of government subjects us all to those who control a majority of the financial capital. Beating the odds is not a matter of playing more or less, but rather taking your money out of a system where the house has the advantage and always wins in the long run.
In order to transform our economy from one favoring the insiders to one free for all to compete, there are several changes we need to implement right away. Right-to-work laws are a critical component of Colorado’s future. Removing one-size-fits all state policies and allowing counties to compete to be the best for business will spark new waves of job creation. Reducing health care restrictions and allowing families and businesses to choose the policies that work best for their situation.
The task for the next generation of political leaders is to return the power of decision-making to the citizens. We will do this by entrusting them to make their own choices in life, whether in health-care, retirement savings, school for their children, or religious preferences. Some will make poor choices and it will be our duty to charitably and voluntarily come alongside them. But most will realize their full God-given potential by creating a rich life of responsibility and reward.
We are all Liberty-loving conservatives at the beginning of each day: everyone wakes up and prays for the grace and the strength to make the life of their choosing. Nobody rolls out of bed hoping to be told what to do and what not to do. Here’s to a coming generation of Liberty because of our labors today.