President Biden’s proposal to raise the nation’s minimum wage to $15 per hour has been upstaged by his stimulus and infrastructure spending proposals, but the administration hasn't given up, and some well-meaning but historically and economically naïve Christians are on board.
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In a previous article, I discussed three inappropriate goals for avoiding “sin stocks.” There I argued that using a moral screen on your investments is not able to remove guilt, keep money from going to bad companies, or avoid profits that are tainted by sin.
Not all Democrats have guzzled the Modern Monetary mania that the national debt, currently at $68,400 per citizen or $183,000 per taxpayer, doesn’t matter. To pacify them, President Biden proposes raising taxes to pay for some of his binge spending.
Inflation, unemployment, worker shortages? What’s going on? I’ve got some ideas and I’m sure you do, too. But after we’ve solved our political and structural problems (take an imaginary trip into optimism with me for the sake of thinking long-term), we might also ask: What type of people or culture will best deal with economic hard times?
We're currently in annual shareholder meeting season, which runs roughly April through June. Being part of a team which helps design, update and maintain Exchange Traded Funds (ETFs), and also being an investor in those funds personally, I set out to take responsibility for what is in the portfolios by attending the shareholder meetings of the companies I own. But the point was not just to show up, but also to speak up.
I have been blessed to meet many Christian financial advisors across America. Not all, but some of them use a moral screening strategy to serve their investment clients. Moral screening is one of several strategies under the larger topic of faith-integrated investing. While I have written elsewhere about how to invest for redemptive purposes, in this article I want to highlight some of the theological limits of moral screening.
As a member of a team which helps build and maintain investment funds (ETFs), and as an investor in them personally, I have been attending annual shareholders meetings of many of the U.S. companies in which I am invested. I have asked questions of the meeting organizers before, during, and after the meetings. My general focus has been on excess politicking, on issues that are not of core material operational importance, by publicly traded companies.
When the Holy Spirit convicted my heart about biblically responsible investing it was not because of a realization that my investment money was going into the coffers of bad businesses who would use it to pursue immoral ends. No, God broke my heart over the undeniable truth that as an investor, I was profiting from the sale of abortion drugs.