The elusive goal of obtaining free market capitalism seems extraordinarily difficult at times. The level at which government is involved in the economy currently makes it seem almost impossible at times for it to be effectively extricated without causing major financial problems. One hope for enacting real change could be the electing of candidates whose values truly align with free market capitalism. This appears to be a possibility as candidates for the 2016 presidential race have begun announcing themselves. In order to explore this issue of free market capitalism and a couple candidates which look promising Dawn J Bennett invited Jonathan Hoenig, a founding member of the hedge fund Capitalist Pig, to her radio show “Financial Myth Busting”.
Dawn J Bennett got right down to business and asked Jonathan who he was excited to see had thrown their hate into the race. His two current favorites are Ted Cruz and Rand Paul. Jonathan explained that the majority of politicians, even those on the right aren’t radical enough when it comes to dealing with the economy and implementing real changes. He feels that despite many supporting capitalism it’s not in a purist sense of the form. Jonathan even told Dawn J Bennett that he is worried that despite some of what Rand Paul says he may not actually truly hold those ideals.
Jonathan also believes along with a lot of others that repealing of the IRS, Medicare and Medicaid needs to happen. So long as they exist a free market cannot truly exist because the government will be too deeply involved in the economy. The problem with the IRS is the numerous loop holes and how it treats everyone unfairly. The reality is the government could save money by repealing the IRS and having an equal flat tax on everyone. The problem is a majority of people don’t believe this will work and have the mistaken view that true capitalism is a “dog eat dog” world.
Jonathan says in addition to abolishing those government agencies the minimum wage needs to be done away with, he claims the country’s most prosperous years were in the 1800s and late 1800s before government became so intricately entangled with the economy. In regards to Hillary’s campaign Dawn J Bennett and Jonathan agreed that the news media is too focused on pointless matters like where she eats and what she’s wearing each day. Once this dies down and people begin focusing on what she’s really about they will see wealth redistribution is what she’s about. Unfortunately a lot of people in America currently believe this is the appropriate role of the government.
Dawn J Bennett also brought up Hillary’s comment about getting the money out of politics despite her plan to raise an estimated $2 billion for this upcoming election. Jonathan conveyed that any candidate running will need to raise large sums in order to effectively advertise and get their name out there. The real key to he says to removing money from politics is removing government from the economy. When government policies are no longer affecting the economy like they do now, the desire to spend money on politics will be removed. As it currently stands though government helps create monopolies and if a business doesn’t lobby they can be lobbied out of business by their competition, therefore not lobbying can lead to suicide of the company.
At the end the question we are left with is will the people of the United States continue being misled down this path which will damage us in the long term or will we return to our roots of a true free market.
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About Dawn Bennett
Dawn Bennett is CEO and Founder of Bennett Group Financial Services. She hosts a national radio program called Financial Myth Busting http://www.financialmythbusting.com
She discusses educational topics and events in the financial news, along with her thoughts on the economy, financial markets, investments, and more with her live guests, who have included rock legend Ted Nugent, as well as Steve Forbes and Grover Norquist. Listeners can call 855-884-DAWN a as well as take podcasts on the road and forums for interaction.
She can be reached on Twitter @DawnBennettFMB or on Facebook Financial Myth Busting with Dawn Bennett or firstname.lastname@example.org