Thursday, March 27, 2014

Common Sense Lesson in Economics

A young man was about to finish his first year of college. Like so many others his age, he considered himself to be a very liberal Democrat, and among other liberal ideals, was very much in favor of higher taxes to support more government programs, in other words redistribution of wealth.

He was deeply ashamed that his father was a rather staunch Republican, a feeling he openly expressed. Based on the lectures that he had participated in, and the occasional chat with a professor, he felt that his father had for years harbored an evil, selfish desire to keep what he thought should be his.

One day he was challenging his father on his opposition to higher taxes on the rich and the need for more government programs. The self-professed objectivity proclaimed by his professors had to be the truth and he indicated so to his father. He responded by asking how he was doing in school.

Taken aback, he answered rather haughtily that he had a 4.0 GPA, and let him know that it was tough to maintain, insisting that he was taking a very difficult course load and was constantly studying, which left him no time to go out and party like other people he knew. He didn't even have time for a girlfriend, and didn't really have many college friends because he spent all his time studying.

His father listened and then asked, "How is your friend Joe doing?" He replied, "Joe is barely getting by. All he takes are easy classes, he never studies, and he barely has a 2.0 GPA. He is so popular on campus; college for him is a blast. He's always invited to all the parties and lots of times he doesn't even show up for classes because he's too hung over."

His wise father asked his son, "Why don't you go to the Dean's office and ask him to deduct a 1.0 off your GPA and give it to your friend who only has a 2.0. That way you will both have a 3.0 GPA and certainly that would be a fair and equal distribution of GPA."

The son, visibly shocked by his father's suggestion, angrily fired back, "That's a crazy idea, how would that be fair! I've worked really hard for my grades! I've invested a lot of time, and a lot of hard work! Joe has done next to nothing toward his degree. He played while I worked my tail off!"

The father slowly smiled, winked and said gently, "Welcome to the Republican party."

If anyone has a better explanation of the difference between Republican and Democrat I'm all ears.

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