Inventory of a nation's assets

In previous blogs I have stated a case for the decline of the American empire, and urged that we set about living within our means and getting our economy once again on the road to prosperity. That process requires will power, intelligence, discipline, and a variety of tools. Are they present in the body politic, or are we so ridden with partisanship, greed and class warfare that we are beyond redemption? I say they are, and we can and will make the changes it will take to again be the world leader. Let us take count of the assets we can bring to bear on the process. We have a huge reservoir of highly skilled entrepreneurs that have demonstrated creativity in technology, manufacturing and marketing. Unfortunately the search for ever lower costs and ever higher profits has allowed our industrial base to migrate abroad. But the brain power still resides here and can be applied to other products for the green world that is coming. Our workforce is as productive as any in the world and if given the opportunity and motivation, will outperform the Asians. The capital for new enterprises exists in abundance within the hoarded corporate profits accumulated during this recession. It needs to be put to work. On the government revenue side, with a dose of patriotism and empathy by many the Income Tax code could be revised to eliminate tax shelters that create great inequity in taxes paid and wealth accumulated. For example the world's largest corporation, General Electric, payed zero taxes on $14 billion net profit last year. Coupled with a gradual reduction in spending, and military funding the increased revenue should permit us to gradually reduce the deficit and reach a pay-as-you-go state All the elements for recovery are there, except for the unselfishness now essential to put them to work. If we will it, it WILL happen.