Economic
Thoughts and The Way It Is
An unemployed father walks into a supermarket. As he approaches the cashier he pulls out a piece of paper with the letters M.S.O.U written in big black letters on it. The cashier rings up the total and the father hands the man the M.S.O.U. The cashier asks, “What is this?”
The father replies “It’s and M.S.O.U.”
“What’s that?” the cashier replies.
“Well, according to the President’s economists, the
economy is getting better, but they say we have to sacrifice now in order to
benefit with better jobs in the future.” Says the father.
Yeah, but what is this? The cashier asks again.
The father answers, “It’s an M.S.O.U. MY SON OWES
YOU for what I purchased today. He’ll pay you somewhere around the year
2024.”
70% of all people employed in the United States by private
industry are employed by small businesses. Running those small businesses are
people that live in your community; possibly coach your daughter’s soccer team
or your son’s baseball team; and maybe even sit nest to you at PTA meetings.
More to the point, these people have been and are doing something most
economists have never and will never do… They MEET A PAYROLL each and every
pay period
When payday rolls around, they are there with a check or
cash. A few days later they’re paying payroll taxes. Once a month they send a
check to pay for the company’s health insurance, if they and you can afford
it.
Adam Smith, the great economist of the 19th
Century is quoted almost as much today as he was in his time. He lived a very
long time ago in a very different world. Before an economist that lives in the
world, as it now exists speaks, maybe he should do something different, say like
actually MEET A PAYROLL.
Just a though.
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