America's Dwindling Economic Freedom (U.S. has dropped out of the top 10)

Wall Street Journal ^ | 01/13/2014 | Terry Miller

[Carbonsteel]

World economic freedom has reached record levels, according to the 2014 Index of Economic Freedom, released Tuesday by the Heritage Foundation and The Wall Street Journal. But after seven straight years of decline, the U.S. has dropped out of the top 10 most economically free countries.

For 20 years, the index has measured a nation's commitment to free enterprise on a scale of 0 to 100 by evaluating 10 categories, including fiscal soundness, government size and property rights. These commitments have powerful effects: Countries achieving higher levels of economic freedom consistently and measurably outperform others in economic growth, long-term prosperity and social progress. Botswana, for example, has made gains through low tax rates and political stability.

Those losing freedom, on the other hand, risk economic stagnation, high unemployment and deteriorating social conditions. For instance, heavy-handed government intervention in Brazil's economy continues to limit mobility and fuel a sense of injustice.

[Carbonsteel]

Please take note that America isn't even in the top 10 anymore.

[DannyTN]

I’d gladly drop on this list, if we would raise import tariffs. But apparently we got dinged for government intrusions in healthcare.

[DannyTN]

"“The U.S. is the only country to have recorded a loss of economic freedom each of the past seven years.” This sad, maddening interval began in 2007 with Republican George W. Bush’s reckless expenditures, brand-new regulations (including the unforgivable federal destruction of Thomas Edison’s incandescent light bulb), and the post-crisis nationalization of American enterprises. This folly continues with President Obama’s trillion-dollar annual deficits, his 24/7 red-tape factory, and the triumph of Obamacare, now blossoming in its entire splendor." National Review Online

[Tzimisce]

Wow: you mean after all the regulations, taxes and nationalizations we’re sinking in economic freedom?

What a shock...

[Taxman]

The answer is: implement the FairTax!”

The question is: How can America reclaim the #1 spot on the Heritage Foundation Index of Economic FReedom?

To find out how to help us do that, go to http://www.fairtax.org

[Jean S]

Bump

[RWB Patriot]

“What’s freedom mean to a person when he has no home, food, a living wage blah blah blah....”

The responses I’m mostly getting when I point out such facts.

[nascarnation]

We’ve traded freedom for “security” funded by fake money.
When the fake money is rejected, it will be quite ugly.

[Carry_Okie]

The answer is: implement the FairTax!”

The answer is cutting spending. Enforcement of the FareTax would be a nightmare of intrusiveness, especially at this level of spending.

[upchuck]

Last paragraph of the article:

The record of increasing economic freedom elsewhere makes it inexcusable that a country like the U.S. continues to pursue policies antithetical to its own growth, while wielding its influence to encourage other countries to chart the same disastrous course. The 2014 Index of Economic Freedom documents a world-wide race to enhance economic opportunity through greater freedom—and this year's index demonstrates that the U.S. needs a drastic change in direction.

Paging Ted Cruz, Sarah Palin, Allen West, etc.

[SeminoleCounty]

Actually going back to tariffs would promote economic freedom. It would remove the US from the yoke of the UN, WTO, World Bank, IMF, NAFTA, etc... We would also be able to counter tariffs and trade barriers placed by other nations

[DannyTN]

"Actually going back to tariffs would promote economic freedom."

I agree with you. I just didn't think the authors of this report would see it that way.

[DannyTN]

"Actually going back to tariffs would promote economic freedom."

I agree with you. I just didn't think the authors of this report would see it that way.

[Former Proud Canadian]

Ugly and bloody.

Imagine the EBT cards are rejected all over America. The riots would be out of control in a couple of hours.

[Mrs. Don-o]

It is sad that America is no longer a free enterprise country. And er no longer have protection from the largest bands of robbers. (Tagline)

[i_robot73]

Uhhh, WHAT?!

The actual answer, in lieu of returning to a Constitutional Republic (which those even here would balk upon [IE: ‘I *paid* into SS]), the Fair Tax (for all its warts) would be a far better plan than the current Communistic (and, IMHO, Unconstitutional [IE: 4th, 5th, 13th, 14th, etc.]).

For me, one of the detractors of the F.T. is the limit it imposes (~22% aka ‘revenue neutral’). It does NOT starve the beast outside of what I can barter/trade/etc. to NOT pay the tax. If we had A1S8, that % should/would be MUCH lower.

I’d love to read your explanation of how a line item on everyone’s receipts constitutes ‘a nightmare of intrusiveness’.

[i_robot73]

We’ve had over 100 years and a multitude of ‘programs’ that have laid waste to our Republic. I’d LOVE to see them compile the data starting at, say, 1900.

No longer implies a recent change...Anyone wishing to see the travesty would acknowledge the death of the Republic many years ago.

[Carry_Okie]

...the Fair Tax (for all its warts) would be a far better plan than the current Communistic (and, IMHO, Unconstitutional [IE: 4th, 5th, 13th, 14th, etc.]).

If you think the WOD was bad, you ain't seen nothing until we get the IRS sticking its nose into every transaction to collect the FareTax because of the size of the resulting black market.

[1rudeboy]

Everyone knows higher taxes lead to prosperity! And higher economic freedom for all!

[1rudeboy]

Wow: you mean after all the regulations, taxes and nationalizations we’re sinking in economic freedom?

Your taxes aren't high enough, comrade. Our government is here to protect you.