New Rule, “Let’s Make America’s Economy Great Again”
Last month the “Index of Economic Freedom,” was released, it shows where in the world economic liberty is flourishing or foundering.
This year’s Edition contains some great news…
If you are a citizen of Hong Kong, Singapore or New Zealand, you live in the world’s freest countries. And if you live in the Unites States the report makes you are not so fortunate.
The US failed to place among the Top 10, but also faces the prospect of a Presidential election that will pit a committed statist Vs a disruptive centerist successful businessman.
Notes:
- Statism is the belief that the state should control either economic or social policy, or both, Hillary Clinton
- Centerism is a political outlook that involves acceptance or support of a balance of a degree of social equality and a degree of social hierarchy. Donald Trump avows political changes which would result in a significant shift of society from the left to the right, meaning he is to the right of center.
The report’s rankings are established by calculating a number of broad features: the size of government; the rule of law; the efficiency of regulation, and the freedom of markets.
Countries comprising the Top 5 freest, the aforementioned pacific nations, + Switzerland and Australia, tend to have defined property rights, free trade, little corruption, reasonable taxes and responsible government spending.
The US, coming at # 11 failed to break the Top 10, in a ranking of 178 nations, not bad.
The Big Q: How did Americans, who pride themselves on being the world’s freest people, fall behind Chile and Estonia, #’s 7 and 9 respectively, in the economic liberty lineup?
The Big A’s: The US, at 35% has the world’s highest corporate tax rate, a $20-T national debt and over $200-T in unfunded liabilities. The size of government and the scope of its regulatory powers both continue to grow. Federal spending is now nearly $30,000/family, and the Washington, DC lawmakers have introduced 180 new regulations since Y 2009.
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It is important to note that in Y 2008 the US ranked #7, indicating the in terms of economic freedom, the home of the free is indeed getting less free, all of this during the “Hope” years of Barack Hussein Obama’s presidency, not the great Hope he preached to America’s young voters and older entitlees.
This distressing situation can be reversed if the US reforms taxes, cuts regulations, and scales back spending.
The prospect of a Hillary Clinton presidency is a nightmare, she is proposing trillions of dollars in new spending and taxes while Donald Trump proposes making America great again by cutting taxes, reducing the size of government, deregulating policy, creating new jobs, restricting illegal immigration, unwinding Obama’s unwieldy executive orders, and strengthening the nations leadership position worldwide.
Should the US fall to a Hillary Clinton presidency, Americans should cherish their current ranking on the Index of Economic Freedom, as it may be the nation’s high watermark on that list for the foreseeable future.
New Rule, “Let’s Make America’s Economy Great Again”
Trumpeting for Trump
Paul Ebeling
HeffX-LTN
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