You know there was once a country called United States of America where there was no tax, gold standard, and no fed.
The working class that you speak of didn't dominate in that country either. Small business owners were the power however.
Almost Every individual and every family was considered to be an entrepreneur. People would undertake in anything and the productivity along with quality of products was great. False marketing along with bureaucratism was weak.
That was the fastest booming economy EVER. That was a country with gold standard. That was the Laissez-faire at work.
That was a country where every liberty loving individual would migrate to.
We all know too well what happened to that country.
But if you would want to take that country back to gold standard you would need to consider one little fact....
THERE IS NO GOLD LEFT AT FORT KNOX. What a bummer
You'd have to go back to post Colonial America to reference 'no tax'. George Washington levied federal liquor taxes after the war to pay off debt.
Nobody referenced domination. I referenced strong middle class (which includes small business owners.) I'm not going to argue which demographic is more important, all boats need to float. But middle class income is flat since 1973 while the top is off the chart. We need a strong business class and we also need a strong economy so the middle class can buy their stuff. Otherwise we get what we have now, 50 million looking for full time work and too few jobs to sustain.
Not sure where you got that one. Ron Paul floated a suggestion we use some type of fractional reserve based on gold instead of GDP. But like Cain's tax plan, it takes a review to see how the numbers fall. IMO, gold-based fractional reserve is no different philosophically than gdp-based fractional reserve.
