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Is there good in in any plunge? I think so. Time, as far back as written in stone seems to show that the masses don’t evolve until real tragedy hits. I think they call it reaching bottom. Biblically, if you believe the story, when Egypt freed the Jews, the desert became a hellish party. If we experience the “V” recovery, we will celebrate into a facade of happiness. Who’s going to pay back the 132T debt.
I know more rich drive the economy but If the rich lose it all, humility may prevail. We seem to hand out entitlements like candy on Halloween. My tenant with two children pays late and had the audacity to say it was his time to enjoy life without work. We are doing little to incentify low income to raise ethics.
Don’t get me wrong. All lives matter and I’m happy to grant latitude in trade for some appreciation. But ya’ gotta’ be willing to put in the effort. like an addict, you can’t say “here”, have a joint rather than an Opioid. Our brain is not designed to recover that way.
I’m 71. I remember growing up saying, “I’ll do anything”. I pulled the drain plug on oil pans, mowed neighbor’s lawns. My unemployed tenant has not come to me once in humility to ask me for work.
I say, restructure it so humans respond.
Back in the good old days – 50’s through 70’s – the top tax rate was the government took 70%. Start there if you’re worried about the deficit.
People will respond to work but it’s a two-way street. People were loyal to an employer but the employer also treated employees like human beings. Once jobs started being shipped elsewhere on a dime and loyalty meant nothing, people stopped caring. If you want people to respond, setup a system where they are rewarded, not one in which they feel like they’ll never be able to get ahead. And, yeah, you may have to do some pretty anti-capitalist things to do that like raising minimum wages and mandating some things are made in America rather than imported. It might be preferable to a future with universal basic incomes, though…