Posted by: James Atticus Bowden | February 6, 2010

Capital, or Call It Money, What It Means To You – America

Finished Thomas E. Woods Jr’s “Meltdown”, the play by play of financial disaster and political folly in the just passed 2008.  I’ll report on that properly when I’ve got the time.

But, one idea that hit me like a snowball, in what should be the calm, brownish winter of Global Warming -(Not), needs be spoken.

Capital, money, is both a measure of the economy and its crucial, central commodity.  It’s the idea behind the idea of the Munificent Destiny that I’ve stumbled upon and worked for almost 20 years.

In the 1600s, an English day laborer, working like illegal immigrants outside 7-11 or as Biblical day workers, worked every day he could to earn the money for his wife to make bread the following day.   His life time earnings were less than 100 Lbs Sterling, if I recall rightly.  When that man came to Virginia after time as an indentured servant, a transported criminal after his term (like my ancestor John Bowden), a freed slave or just an individual worth the wages of perilous passage, he could work 15 acres by himself – with his family, and earn 150 Lbs Sterling in one year.  Until the land gave out.  In one year in Virginia,  one man could provide for his family what took his entire life in England.

The effect was mind-boggling freedom.  Unexpected riches beyond the dreams of common folk.  Freedom of opportunity tied directly and inextricably with economic choice.  Right here in Virginia.  Freedom to work hard and earn or not.   For your family or not.

So, here is the epiphany.

Money is today like 15 acres was in the 1600s and 1700s.

Money is a measure of gain.  But, it is also the commodity – like land – that creates wealth.  But, don’t dismiss wealth creates wealth as an aphorism.  It speaks to the harm politicians visit on America – and our Virginia.

It takes money to make money.  Right.  And money can be worked just like the land – although  a lot less sweat is involved, but the same anxiety – to make money.  Gain.

This means we, the People as sovereigns of our governments, should make very sure that capital is taxed only once.  Ever.

And, all that President BHO has done to tax, punish, steal capital from – any business, any sector, any person, any corporation – is fundamentally, completely, morally and fiscally … WRONG.

Now is the time for all good pols to see what they can do to NOT kill capital, but let it grow.

For thee and me, all whom we love, and who call themselves Virginian – or American.

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