RALPH NADER talks with Tom in this exclusive interview about what's wrong with politics and politicians today and what you could be doing about it. Many of you have asked us to talk more about politics. Click and hear this iconic guest! Find out if you agree or disagree!
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Wow. 3 for 3 outstanding guests. Between this podcast and the Ralph Nader Radio Hour, I feel like Radio's afterlife is just getting started! Thanks Tom.
Nader is smart, but....
I do respect the guy, but I have to disagree with the sentiment of abolishing the electoral college. In my line of work, I have to maintain a balanced view. I can't get married to the idea of a market being Bullish when it isn't, and I can't do the opposite and think a market will be Bearish when its rallying hard. I'd lost my shirt if I wasn't balanced.
So what sticks out to me is when someone makes an argument that isn't balanced.
The percentage of people receiving some kind of government money in the USA is around 47%, and that isn't counting the Social Security System. What do you think will happen when the EC is abolished? You get tyranny of the popular vote. The very people getting free govt money through programs will no doubt vote to keep it that way.
But it doesn't stop there.
Their kids and families that are raised with this money will do the same. There's no incentive to break out of the system, because if you're getting gov benefits -- or god forbid, "Universal Basic Income" (free money, again) -- you don't really care about looking for a job or contributing to the taxbase.
How many cycles of this do you think the USA could withstand before it all came to a screeching halt? Even if they embraced the lunacy of MMT (Modern Monetary Theory) which basically states "print more money until inflation happens" it wouldn't prevent the house of cards from toppling down as the taxpayer base would dwindle and most of the population would be dependents of the govt.
Its a real concern. Some of our laws may be "ancient" but being old doesn't mean they're ineffective or lack relevance.
So Tom, I'm glad you had him on the show, but when he started carrying on about the Electoral College, I frankly had to just throw my hands up in the air in disbelief. I expected better from Nader, honestly.