Case Assignment Cato

Touro University International

Summer 2007

ECO 202

Module 5

Case Assignment

Jonathon Boone

Professor:  Dr. Rosenberg

Module 5: Case Assignment

Milton Friedman once stated that the absence of government coercion or restriction on the production, distribution, or consumption of goods and services beyond the extent necessary for citizens to protect and maintain liberty itself. What is your definition of the American Dream? Is the dream supposed to be something so unattainable that only the few of us can achieve it? Making this the greatest country under god and indivisible and justice for all. The rich get richer while the poor tries to make it another day. I believe in the Cato’s Institute view of the fiscal policies because I believe they encompass more of the American Dream.

The Cato Institute's mission is to broaden the parameters of public policy debate to allow consideration of the traditional American principles of limited government, individual liberty and free markets.  They want to achieve greater involvement of the intelligent, lay public in questions of public policy and the proper role of government. Cato scholars are libertarian in their policy positions, typically advocating diminished government intervention in domestic, social, and economic policies and decreased military and political intervention worldwide.

Cato Institute has taken on the French phrase meaning, "Let do, let go, let pass”. The laissez-faire school of economic thinking holds an unadulterated libertarian marketplace point of view, that the free market is preeminent when left to its own devices. It believe that it will dispense with inefficiencies in a more premeditated and swift approach than any legislating body could. This intervention includes minimum wages to increase the standard of living, anti-trust regulation to avert monopolies and nationalized industries habitually in areas where a monopoly is essential like utilities such as Microsoft.

Approximately 21 million workers make amid $30,000 and $50,000 a year. The majority of who give marginal income tax rates of 28 percent. The combined rate of 43 percent is higher than the top income tax bracket for even the wealthiest Americans at 39.6 percent. Cato's Social Security proposal involves giving workers an option of investing up to half of their contributions, normally 6.2 per cent into individual accounts, in return for forgoing the accrual of any future Social Security entitlement benefits.