If you caught Rush Limbaugh on Jay Leno last night you know that Rush gave a great little lesson on capitalism. I don’t have the section transcribed, but Leno was talking about excessive corporate compensation for those who don’t “deserve” it, Wall Street, the bailouts, etc. It is amazing to me that so many have bought into the idea that someone who earned their money legally should not be entitled to keep it if they are not “deserving.” The very thought is chilling. I mean who is going to decide who is deserving? How much of their money should they have taken from them, in taxes, forced government mandates, etc.? Instead of school children singing praises to Obama they should be learning some basics about how the government and the economy work.
Last night driving my nine-year-old daughter to a school event, we passed a new community center that has not opened yet. We started talking about whether or not it might have a pool, or a gym or what else might be hidden behind the cool modern glass facade. My daughter asked if it would cost a lot to go to it. I told her since it is a community center (it is adjacent to a city park) that it would most likely be free, like the park is.
My daughter told me it was not free — that if the city built it then we all paid for it with our tax money. I asked her how she knew that and she said last year her third grade teacher explained to the class that their families all paid her through their taxes and that when the teacher paid her taxes she was even paying part of her own salary. I am thankful that my child is learning something so fundamental and valuable in her public school. I was especially impressed that she took that lesson and applied it to the community center we were talking about. I just wish the same thing could be said for all the schools in the country.
Update: In my latest column at American Issues Project, I look at the way economic news is reported. That is part of the reason Americans don’t understand the economy better. They get a lot of misinformation and spin in the day to day reports they get on economic issues. You can read the column at AIP.