I Wish More Americans Knew as Much About the Way the Economy Works as My Kid

If you caught Rush Limbaugh on Jay Leno tonight you know that Rush gave a great little lesson on capitalism.  I don't have the transcript, but Leno was talking about excessive corporate compensation for those who don't "deserve" it, Wall Street, the bailouts, etc.  It is amazing to me that so many have bought into the idea that someone who earned their money legally should not be entitled to keep it if they are not "deserving."  The very thought is chilling.  I mean who is going to decide who is deserving?  How much of their money should they have taken from them, in taxes, forced government mandates, etc.?  Instead of school children singing praises to Obama they should be learning some basics about how the government and the economy work.

Tonight driving my nine-year-old daughter to a school event, we passed a new community center that has not opened yet.  We started talking about whether or not it might have a pool, or a gym or what else might be hidden behind the cool modern glass facade.  My daughter asked if it would cost a lot to go to it.  I told her since it is a community center (it is adjacent to a city park) that it would most likely be free, like the park is. 

My daughter told me it was not free -- that if the city built it then we all paid for it with our tax money.  I asked her how she knew that and she said last year her third grade teacher explained to the class that their families all paid her through their taxes and that when the teacher paid her taxes she was even paying part of her own salary.  I am thankful that my child is learning something so fundamental and valuable in her public school.  I was especially impressed that she took that lesson and applied it to the community center we were talking about.  I just wish the same thing could be said for all the schools in the country.

UPDATE:  Watch Rush's full interview with Leno here.  He gave a really good little primer on capitalism and it was well received. The audience was fired up and sounded like they agreed with Rush on most things.

UPDATE II:  In my latest column at American Issues Project I discuss some reasons people don't seem to understand the American economy better -- including the misinformation and spin they get on a day to day basis from politicians and the news media.  Read the column at AIP.

Part of the entry above is crossposted at Wizbang.

Comments

[Ed Wallis]

Haven't seen the Limbaugh/Leno video, but based on your description, one zinger missing would have been for Limbaugh to simply ask Leno just how much HE earns...and if he thinks he doesn't "deserve" that.

heh.

[BelindaHowe27]

I took 1 st personal loans when I was 25 and this supported my business very much. But, I require the commercial loan also.

[MBT Shoes]

I just realized I'll still be typing next week if I keep talking about the great stuff we've gotten, so I'm going to list it!