Thursday, February 10, 2005

Allowance? Maybe not.

With "Take care of yourself," Cal Thomas address what is probably the root cause of the most serious ailment affecting our country - the entitlement mentality.

Most children expect to leave home and lead independent lives. Most parents expect them to do so. But government is the omniscient (not to mention omnipotent and omnipresent) parent that never kicks out the "children" no matter how old they get. Too many of the "kids" think it perfectly normal to have a permanent "allowance" and take no responsibility for their own lives or retirement.

Like many of society's problems, this one is caused in great part by poor parenting. I won't suggest that a nation of Ward and June Cleavers would be free of all governmental woes, but a strong nation cannot be built without strong families as its foundation.

The whole article is worth your time, but in case you don't get to it, at least check out these numbers:

A $5,000 one-time tax-deferred investment at birth, with an average interest rate of 10 percent compounded, means that a child would have $2.4 million when he or she is 65 years old.

Makes me wish I had gotten my Roth IRA started a little earlier.