14 October 2010

Is Obama's America Losing Its Grip on Freedom?

Economic freedom allows people to move up the economic ladder under their own initiative. It is the main reason why immigrants come to the US and other relatively free nations: to make a better life. But under Obama, it is becoming much harder to create new businesses and jobs. Everyone is becoming equal in poverty. Inequality plus socioeconomic mobility would be far preferable.
Bill Beach, director of the Heritage Foundation's Center for Data Analysis, which compiles the index with The Wall Street Journal, says the index defines "economic freedom" to mean: "You can follow your dreams, express yourself, create a business, do whatever job you want. Government doesn't run labor markets, or plan what business you can open, or over-regulate you."

We asked Beech about the U.S. ranking. "For first time in 16 years, the United States fell from the 'totally free' to 'mostly free' group. That's a terrible development," he said. He fears that if this continues, productive people will leave the United States for freer pastures.

"The United States has been this magnet for three centuries. But today money and people can move quickly, and in less than a lifetime a great country can go by the wayside."

Why is the United States falling behind? "Our spending has been excessive. ... We have the highest corporate tax rate in the world. (Government) takeovers of industries, subsidizing industries ... these are the kinds of moves that happen in Third World countries. ..."

Beach adds that the rule of law declined when the Obama administration declared some contracts to be null and void. For example, bondholders in the auto industry were forced to the back of the creditor line during bankruptcy. And there's more regulation of business, such as the Dodd-Frank law for the financial industry and the new credit-card law. But how could the United States place behind Canada? Isn't Canada practically a socialist country?

"Canada might do health care the wrong way," Beach said, "but by and large they do things the right way." Lately, Canada has lowered tax rates and reduced spending. _Reason
The Obama Pelosi agenda is still in its early stages. Give them time, and they will push the US well down in the rankings of economic freedom -- right next to Cuba and Venezuela. When you put it that way, the US Tea Party movement is looking better and better.

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Blogger PRCalDude said...

Nation of Emigrants?

I can't wait to become a rootless cosmopolitan like that other group of rootless cosmopolitans I know of.

Chile's starting to look pretty awesome.

Friday, 15 October, 2010  

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“During times of universal deceit, telling the truth becomes a revolutionary act” _George Orwell

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