We are all familiar with the term "investment" and it is usually connected with putting money into an enterprise with the expectation of reaping a future return, or profit, from the transaction. Most of these investments are done with a projected return and are usually of a relatively short term, a matter of years. The expectation is for the individual who is making the investment to be rewarded with a profit from that investment.
In the past, we also thought about the outcomes of our investments in social and human terms. That is why we invested in our infrastructure, in the education of our children, in health, and in the general welfare of our citizens. We did not expect to reap a personal financial profit from such investments, but we expected the returns to be in term of a better and more effective citizenry-educated, healthier, with a thriving society and a solid infrastructure-so the entire society could move forward sustainably and creatively.
To the degree they had disposable income, all citizens were expected to invest in the future of the society by means of a progressive and graduated income tax, taxing at a higher rate the higher levels of income generated by economic success within the structure of such a society.
Over the last few decades our definition of investment has primarily come to mean Individual economic returns, with less and less emphasis on social investment or returns.
With control shifting to an economic elite, our tax system has become much more regressive, the more you make the smaller percentage you pay. In addition, the very purpose of government has shifted to supporting and protecting income accumulation, rather than concern for any social benefits.
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Time to rethink our portfolio and rebalance our investments before we have a meltdown.
Bob Passi
Baxter
