The Student News Site of University of Arizona

The Daily Wildcat

100° Tucson, AZ

The Daily Wildcat

The Daily Wildcat


    Droves show up for Forbes’ words

    JOSH FIELDS / Arizona Daily Wildcat

Steve  Forbes speaks to over eager business students at the South Ballroom of Union

Cyrus Behrana Senior , Marketing
    JOSH FIELDS / Arizona Daily Wildcat Steve Forbes speaks to over eager business students at the South Ballroom of Union Cyrus Behrana Senior , Marketing

    Business mogul Steve Forbes spoke on perception versus reality on issues such as health care and the fluctuation of taxes to a crowd of more than 600 students and community members last night.

    Forbes, who ran for president in 1996 in the Republican primary and is synonymous with Forbes magazine, said the “”American economy is more sound”” than economies in Western Europe and Japan.

    Though the federal government is strong, it has an inordinate amount of money at its disposal, Forbes said.

    Federal officials don’t spend money wisely enough and the government’s deficit is largely because its gross mismanagement of funds, like the money it sends overseas to the wars in Iraq and Afghanistan, Forbes said.

    “”There’s lots of ‘juice’ in the system,”” added Forbes, who estimated the surplus to be as high as $2 trillion and said the government needs to control its spending. “”It’s an invitation to corruption. It’s staggering.””

    When the nation’s economy stagnates or declines, however, Forbes said there’s a false perception that the nation’s trade deficit is to blame for the economy’s downfall ???? but the true culprit is the rise of gas prices.

    Forbes argued that when gas prices reach record highs, the public shouldn’t blame funding on the Iraqi war, but rather on the Federal Reserve for printing a surplus of money, which in turn brings down the nation’s economy.

    Forbes said tracking the price of gold could help determine whether gasoline prices will be on the rise.

    Event organizers said Forbes’ suggestion to watch the fluctuation of gold prices made them think differently about gasoline prices.

    “”His insight on the gold was particularly intriguing,”” said Carrie Pixler, Associated Students of University of Arizona Speaker’s Board director. “”I’ll definitely keep a watch on and assess the issue.””

    The Speaker’s Board organized bringing Forbes to campus.

    Forbes also tackled the issue of taxes and discussed his support to implement a flat tax for everyone.

    “”This flat tax is so simple, because if change occurs, everyone sees results right away,”” he said.

    Corbie Ball, a first-year applied sciences graduate student who attended Forbes’ speech, agreed.

    “”The flat-tax proposal would be a revolutionary idea and something that would create a level playing field for all,”” Ball said.

    Forbes said he also wants to put Americans back in charge of their health-care plans because the nationwide program is insurance-based and financed through third parties.

    “”Most people want value for their money,”” he said.

    With advancement in technology for many employers, Forbes said these gains actually end up increasing job opportunities for those seeking employment.

    “”There will always be positive changes in a vibrant economy,”” he said.

    Daniel Waks, a secondary education freshman, said job outlook is an important issue for all college students including himself, even though he’s a few years away from graduating.

    Waks also said he was impressed with what Forbes had to say.

    “”It was definitely an interesting and worthwhile experience of a lifetime,”” Waks said. “”This is something good to talk about with my friends.””

    Pixler said she anticipated a big crowd of political science and business students to come to support the event, but she didn’t expect so many people to turn out to hear the business-savvy entrepreneur.

    “”We packed the room,”” Pixler said. “”He talked about the topics at hand without pandering to any political party. His remarks were very tame.””

    More to Discover
    Activate Search