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Friday, July 29, 2016

Hillary's hint about sustainable economics

Last night, in her acceptance speech, Hillary Clinton addressed a priority about which most Americans are concerned. That is economic security which includes access to sufficient opportunity with sufficient upward mobility potential. In her rough analysis, the fact that 1% control 90% of the wealth in the nation is problematic because they are not investing in job creation in America. She suggests that it is unpatriotic for them to enjoy the support of the nation and then to fail to invest properly here.

Most Americans probably agree with that. I do too.

What can be done about it?

1. Tax the rich to direct revenue to where it is needed for shared and common purposes such as infrastructure building.

2. Provide incentives for wealthy persons and corporations to invest, invent, and to create new business units in America.

Both will be required from a new Congress.

Sustainable economic engineering that creates a foundation for a good life for all Americans requires changing the rules to foster growth and development. Transforming the American economy from a fossil-fuel based economy to one that is of renewable energy will require all sorts of new technologies and new products to change and improve how we live and work.

That is a positive direction and will require that we work together to produce essential outcomes that begin with eliminating poverty in America.

"U.S. economy grew at a slow pace in spring, expanding at just 1.2 percent pace in second quarter 
By Chico Harlan July 29 at 8:19 AM  
The U.S. economy grew at a pace of 1.2 percent in the second quarter of 2016, worse than analysts' expectations of 2.5 percent. The slow results for the April-June period raise new warnings signs about the strength of the U.S. economic expansion. 
Economists surveyed by Bloomberg had expected that the nation’s gross domestic product would grow at a 2.5 percent pace in the second quarter, which would mark the best reading since the same period last year."

There is no time to lose.

Democratic presidential nominee Hillary Clinton arrives on stage during the final day of the Democratic National Convention in Philadelphia.
Alex Wong/Getty Images

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