Friday, September 21, 2012

Top Down Won't Hack It

Paul Ryan received resounding jeers and disapproval during a speech at the AARP simply for thinking entitlement reform.

Entitlements, by nature, are a Ponzi Schemes. The con-artists at the heart of the Ponzi Scheme pay an unrealistic return from the capital of current investors to a subset of the group. In theory one could create a sustainable Ponzi Scheme if the pool for the scheme keeps growing. The truth of the matter, though, is that all Ponzi Schemes will eventually crash under their own weight.

So, I applaud Mr. Ryan for wanting to take on entitlements before the crash. Unfortunately, the Romney/Ryan team approaches entitlement reform with a top-down approach that is doomed to failure.

A better approach is to work from the bottom up by creating viable alternatives to the entitlements.

If people saw a viable alternative to Medicare in the works, they'd dump Medicare at a drop of a pin. Sane people understand that depending on a ponzi scheme for sustenance is pure folly.

The viable alternative to Medicare is an ownership based mechanism for funding health care. If somebody, somewhere developed an ownership based alternative to insurance, then people would have a model they could discuss.

The ownership society envisioned by John Locke, Adam Smith and the US Founders is an inherently bottom up economic system which would do a better job at equitable wealth distribution than the top-down entitlement society pushed by both the GOP establishment and progressive socialists.

Sadly, until conservatives are willing to swallow their pride and discuss bottom up solutions for restoring the American experiment in self rule, our nation will be locked in a downward spiral as the left and right argue about which group gets the spoils of our failing society.

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