Tuesday, April 15, 2008

And you think kids are spoiled?

My friends we are spoiled. Recently, we have seen the US economy grow and expand to greater and greater levels. Did you know that we are in the midst of the greatest economic expansion in the history of the world? You wouldn't think so if you listen to the media. Yes, there are economic challenges (all created by government by the way) and the economy is going to make adjustments and flatten or even decline. But that is the nature of free markets -- we can't expect continuous growth. What goes up must come down.

Enough of the cliches and back to the topic.

Our growth and expansion has created expectations that are simply not realistic. We expect the power to always be on, that gas will always be cheap, food will always be on grocery shelves, and to own the latest techno gizmo. People born in the 80's and 90's simply have no clue about how hard things can really be for the world, country, or individual. This is especially true if they have never travelled outside of the US. So when the economy takes a dip or gas goes up by $2.00, we of course think the world is about to end. It breaks the mold and challenges our expectations.

So let's put things in perspective to illustrate the point. Take a look at the table below as it describes how long it has taken for 1/2 of the US population to adopt new technologies.



So 100 or so years ago, it took 71 very long years for the telephone to be adopted by 1/2 of the country! Stop and think about that for a minute. Seventy one years -- that is a life time. IPODs are on the other end of the spectrum -- they were adopted in 4 short years.

Chew on this for a while. Come back to it and chew some more.

We live in a time of instant gratification that feeds the "me too" mentality. Don't get me wrong, we should be proud of these achievements and I am not advocating we return to the horse and buggy. But let's re-adjust our outlook on things and not be lemmings and buy into mass hysteria about the first thing we hear about the state of affairs...

Tax Day!

Being a small government, anti-tax kinda guy I thought I would be remiss if I didn't post a blog on the day we all either pay or pay and file a delay.

Have a beer, sit back, and commiserate with the the rest of us -- but don't think you are finished yet! According to the Tax Foundation (http://www.taxfoundation.org/) you have 8 more days of work before you have earned enough (on average) to pay off your taxes. Yes, you read it right. On an average we have to work from 1 January 2008 to 23 April 2008 to earn enough money to pay your taxes.

So while today is tax day, 23 April 2008 is this year's Tax Freedom Day.

See the graph below for a history of Tax Freedom Day.



Overlay the data with who was the president and see the difference...