YES!!!!
Sovereign Wealth Funds are not new around the world.
Right now, the United States funds entire industries and gets little in return.
We have been brainwashed into funding companies under the guise of trickle down economics.
We fund companies and industries through cash, bonds, and tax breaks with the hopes and prayers that they will flourish and be able to hire citizens – who then get taxed.
Meanwhile, those same companies who received those incentives turn around and sell the products that were made possible through our tax dollars back to us at exorbitant prices domestically-but sell for pennies internationally.
Then, those same companies pay less in taxes because of Research and Development tax breaks.
And finally, instead of increasing benefits for their employees or paying higher wages, the companies buy back their stock – shrinking the supply of stock in circulation and boosting the value per share.
A sovereign wealth fund gives us a lot of bang for our buck. If we as a country bet on a company, we also share in the increased value of that company.
This would do a lot of things:
-It doesn’t make the country solely dependent on tax revenue.
-The Sovereign Wealth fund is not crippled by aggressive corporate tax plans.
-It keeps us from struggling to repatriate money from overseas.
The downside, if the government now owns a piece of a company then some bureaucrats may try to interfere with the direction of the company.
And we’ve seen how that has worked out for the country
-Monk
- Finance is a game
- You’re already playing the game, just not profiting from it (while someone else is).
- Financial Literacy is the pathway to your Financial Freedom.
To the youth, young adults, and the mothers who raise them, Financial Literacy: Monk Says… Learn the Game
MonkSays.com