Posted on 02/01/2010 1:46:39 AM PST by rabscuttle385
The state of our Union is mostly free.
This may shock citizens who call America the “Land of the Free.” Alas, as the Heritage Foundation demonstrates, Washington has transformed Francis Scott Key’s timeless truths into mere lyrics.
In conjunction with the Wall Street Journal, Heritage’s 16th annual Index of Economic Freedom ranks 179 of Earth’s nations on 10 factors including fiscal discipline, free trade, labor freedom, and corruption. By these measures, America is not No. 1. If economic freedom were an event at Vancouver’s Winter Olympics, America would not earn even a bronze medal. In fact, the U.S. fell from No. 6 last year, to No. 8 today. No. 1 Hong Kong leads Singapore, Australia, New Zealand, Ireland, and Switzerland. Even Canada is economically freer than America.
Even worse, for the first time, the Index rates America “mostly free.” From a perfect “Freedom Score” of 100, the U.S. slid from 80.7 points in 2008 to 78 in 2009, thus dropping from the “free” category to “mostly free.” Denmark and Chile complete the top 10. So, at least, America is freer than they are.
America’s 2.7 percentage point decline was among the steepest. Only 11 countries deteriorated more rapidly. These include such Marxian paradises as Bolivia, Ecuador, Libya, and Venezuela. Not even Cuba, Zimbabwe, nor North Korea (rated Nos. 177 to 179) slipped as much, although they already approach the bottom.
So, what went wrong?
Authors Kim Holmes, Ph.D. Anthony Kim, and Ambassador Terry Miller explain that, for America, “Economic freedom has declined in seven of the 10 categories measured in the Index.” These include “notable decreases in financial freedom, monetary freedom, and property rights.” Specifically:
* “Uncertainties caused by ongoing regulatory changes and politically influenced stimulus spending have discouraged entrepreneurship and job creation, slowing recovery. Leadership in free trade has been undercut by ‘Buy American’ provisions in stimulus legislation and failure to pursue previously agreed free trade agreements with Panama, Colombia, and South Korea. Tax rates are increasingly uncompetitive, and massive stimulus spending is creating unprecedented deficits.”
* Last year, “government spending equaled 37.4 percent of GDP. Spending increases totaled well over $1 trillion in 2009 alone, an increase of more than 20 percent over 2008.”
* “Government interventions in financial markets and the automotive sector have raised concerns about expropriation and violation of the contractual rights of shareholders and bondholders.”
The president’s three-year freeze in domestic discretionary spending (but not until 2011) is a welcome tap of the brakes after the fiscal joyride of the Bush-Rove-Obama years. Still, Obama must do much more to regain the confidence of America’s business community. Bloomberg News recently surveyed 873 of its subscribers and found that 77 percent of its U.S. customers consider Obama anti-business. Only 27 percent judged Obama favorably. “Investors no longer feel they can trust their instincts to take risks,” New York broker David Young told Bloomberg.
Former Microsoft COO Robert J. Herbold and Hoover Institution fellow Scott S. Powell also argue that America has strayed from capitalism. In November 23’s New York Post, they identified Accenture, Covidien, Ingersoll-Rand, and Tyco International among 11 major companies that “have all completed or taken steps to change their domicile of incorporation -- with Switzerland and Ireland as the most popular relocation destinations.” These and other companies have been chased offshore by America’s 39.1 percent combined federal and state corporate tax (the developed world’s second worst, after Japan’s 39.5 percent levy), a grim parade of brain-dead legislative measures, and mind-numbing new regulations from Washington’s hundreds of agencies, boards, and commissions.
Manhattan financier Brett A. Shisler calculates that these 11 companies reported $97.2 billion in sales in 2008. What a pot of gold for Washington to jettison. Of course, this trend only will accelerate as U.S. corporate revenues, jobs, and hope become exports. So long as America leads the “mostly free” world, money will go where it is treated more politely -- beyond the Home of the Brave.
Mr. Murdock, a New York-based commentator to HUMAN EVENTS, is a columnist with the Scripps Howard News Service and a media fellow with the Hoover Institution on War, Revolution and Peace at Stanford University.
I am old enough to remember what it was like living in a free country. Brother this ain’t it. I even remember when money was made out of real silver.
Similar to “white flight” we are experiencing “capitalist flight”. As they flee to freer environments. The more green we go the less free we are.
This year I am buying a piece of property in Canada not too far past my border here in Alaska.
Hopefully I will never have to leave America in disgust at the lack of efforts to take it back from the Obama nightmare.
“* “Government interventions in financial markets and the automotive sector have raised concerns about expropriation and violation of the contractual rights of shareholders and bondholders.””
“Bloomberg News recently surveyed 873 of its subscribers and found that 77 percent of its U.S. customers consider Obama anti-business. Only 27 percent judged Obama favorably. “Investors no longer feel they can trust their instincts to take risks,””
If the contents of this article doesn’t make your skin crawl, you ain’t paying attention!!
“This year I am buying a piece of property in Canada not too far past my border here in Alaska.
Hopefully I will never have to leave America in disgust at the lack of efforts to take it back from the Obama nightmare.”
I too bought property outside the US last year. It all depends about how much damage Obama does before we broom him.
I am about to research in depth any advantage I may achieve by have a dual citizenship to counter an impending Federal “fog” so speak thats approaching us. At the least its my goal to remove anything of material value that can be confiscated by having a portion of it beyond the net of the socialized programs.
Being a truck driver I have at my disposal a big rig and trailers. And a touring motorcycle, I live in Alaska and Canada is just a couple hours ride away, at this time I am flying blind but in short time I will educate myself on the effectiveness of have a “safe house” across the border.
I know of Alaskans that have done this so it can be done.
My brother has dual citizenship . Citizenship in Canada is much tougher than here, or at least it was. Make sure to check this out carefully. Good luck!
Canada: Average tax rates upwards of 45%, harsh restrictions on firearm ownership, sharp limits on free press and free speech.
America has its problems, but I’d never live in Canada.
I have a very wealthy friend( lets take the kids and friends to Europe on the big jet for a month. We’ll get the armed guards there kind of wealth ). Nice guy. Anyways a when Obama came in he started buying Canadian farms. A. To store value out side the Marxist US. B. Food investment.
This alone is enough to move us from the 'free' to 'mostly free' category.
Once contract law means nothing, you're screwed.
I think your response is too tepid. We’re beyond screwed. Ask any GM bondholder what they think of contracts in America.
Well, If I said what I really thought, I'd probably banned.
HA...we have (had) Canadian friends (now w/US citizenship, too) who voted FOR Obama....who are retired...who OWNED GM bonds.....don't talk to them anymore...but, hoping they finally woke up.....
Even worse, for the first time, the Index rates America “mostly free.” From a perfect “Freedom Score” of 100, the U.S. slid from 80.7 points in 2008 to 78 in 2009, thus dropping from the “free” category to “mostly free.”
Damn dude.
The USA still has some big advantages, but in our desperate desire to become a European-style social democracy we are rapidly squandering them.
TY for the ping. FRegards ....
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