The basic problem in the world today is that America is consuming more than it is saving. You need to do everything you can to encourage saving and investment: Eliminate taxation of savings, the capital gains tax, and dual taxation of dividends; bring back the more attractive incentives for IRAs, and 401(k)s. At the same time, you need to do everything you can to discourage consumption. Change our tax structure to utilize a value add tax, which taxes consumption rather than savings and investing.
The above paragraph is a quote from Jim Rogers in the book Market Wizards by Jack D. Schwaeger. This conversation took place on pril of 1988! It just goes to show that history repeats itself.