My business and political decision-making is rooted in outcome analysis that is blended with anticipated performance based on future extension of current policies. Sidebar information such as the policy makers’ track record, background economic conditions, time, public opinion, international competition and many other inputs are infused into the thinking. The output is simply “yes” or “no.”

The national political leadership of Team Obama was driven by consumption of assets and redistribution of current income using central government authority. The political power resides in the Commerce Clause of the U. S. Constitution discovered by liberal politicians and expanded by Depression-era Democrats.

The basis for federal revenue was established by the Sixteenth Amendment to the United States Constitution that allowed Congress to levy an income tax without apportioning it among the states based on population. “Tax the rich” and “the ability to pay” were born as political mantras.

Team Trump is driven by production of assets and distribution by means of a market-driven system of prices and demand. Social safety nets, paid from the general tax base, are utilized to improve life for those in need of outside assistance. Emphasis is on individual need, hopefully on a temporary term. Self help is a national goal.

In this writer’s view there are structural deficiencies with the Team Obama strategy while the Team Trump system will produce superior wealth accumulation based on individual innovation. Re-investment of accumulated wealth is the multiplier missing from the Obama model.

Walter B. Bull, Jr., Pinehurst

Publisher’s Note: This is a letter to the editor, submitted by a reader, and reflects the opinion of the author. The Pilot welcomes letters from readers on its Opinion page, which serves as a public forum. The Pilot is not in the business of suppressing public opinion. We are a forum for community debate, and publish almost every letter we receive. For information on how to make a submission, visit this page: https://www.thepilot.com/site/forms/online_services/letter/

(2) comments

ken leary

I've read this four times. It is really just gibberish so i'll go off topic a little. Try to follow Mark. On Sept 17, 2019 the NY Fed greatly increased its Repo market (repurchasing market). That was said to have happened because one of the big banks (no one knows which one) didn't have the cash to lend overnight to banks with shortfalls. Banks stopped trusting each other so the Fed had to step up. Now the Fed, a civilian outfit, owned for all intents and purposes by the "big" banks (Citigroup, Chase, etc) have expanded swaps with numerous other central banks. Swaps are your currency for our currency. Normally there are just five central banks with which our central bank does swaps. Now there are numerous others and the amounts and durations of the swaps have greatly increased. The cash we use to cover our swaps is simply made by operating a keyboard. The purpose of increasing the swaps, the fed says, is to protect our economy. Evidently there is a dollar shortage, and of course the dollar being the reserve currency of the world we need to make sure everybody has enough to pay their bills which must be paid in USA currency. At the end of the swap both parties must pay back, without interest, the amounts exchanged in the same currency that was exchanged. That will be easy for us, but where will all the other countries get more "dollars" to pay us back after they use the swapped dollars to pay their bills? Will they "borrow" the money from our magic money machine. What could possibly go wrong? Capitalism - a death spiral. Loony enough for you Jim? Oh, and by the way, the amount swapped by the USA is an extremely large part of all the hocus pocus money the fed has spent to mitigate the problems supposedly caused by the coronavirus.

Kent Misegades

Or in simpler terms - Obama doubled the national debt in only eight years by living beyond his means. This is why we should not attempt to print and spend money giving relief to those affected by the Wuhan flu - it only digs the $23T debt hole deeper. Unemployment compensation is another matter - companies are forced by the government to pay a portion of a person’s wages into the unemployment fund. Those who lose their jobs for no reason of their own deserve to get their money back from this fund, but only their money. It is short-lived so the unemployed need to spend all their time looking for a new source of income. Fiat money (not cars, but money with no backing like gold) leads to hyperinflation which destroys wealth. Your pension and savings become worthless. See Venezuela to see where this ends.

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