Here's a video clip of Gerry Frigon speaking on television yesterday, November 13, 2012 about the "fiscal cliff" and the larger issue of economic growth.
Yesterday we wrote that the hype about the fiscal cliff should spur lawmakers on both sides of the issue to tackle some real and fundamental tax reform, doing away with the rat's nest of exemptions in order to support a lower, flatter tax.
In the above clip, Gerry reiterates a belief that is at the heart of our investment philosophy: that growth is the answer to solving the economic problems that the US -- or any other country -- faces. Any suggestions for changes to the tax code are only valid to the degree that they promote human freedom and economic growth. Budgetary problems such as those surrounding the fiscal cliff can ultimately only be alleviated by economic growth. Even the problems in Europe cannot be solved by "austerity" in the long run -- they can only be solved by a vibrant, healthy and growing economy which supports business formation.
Previous posts on this subject include:
It is our view that this is an issue that all can agree on, regardless of politics.