Posted on 01/14/2014 1:08:32 PM PST by 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.
(Excerpt) Read more at online.wsj.com ...
Who is talking about higher taxes? I want to raise the tariffs and lower the income taxes by an equal amount. A 10% increase in the tariff would offset a $1500 per worker income tax cut. Americans would keep more of their money.
And with a protective tariff in place, American industry would begin to revive which would cause the 23% unemployed to go back to work. That would be a 30% increase in the workforce. Government revenues would soar, not from the tarriff/income tax change, but from all the additional workers.
Government outlays would go down as the unemployed went back to work. Food Stamps, Medicaid, unemployment benefits, etc would all drop, without arbitrary cuts blamed on the GOP.
And America would be a lot less dependent on foreign countries, and better able to defend ourselves.
You forget: and unicorns would fart rainbows.
Obviously, you would.
The only cure for ever larger government intrusions is more taxes. LOL!
So retirees would get screwed? Only workers get this cut?
Will you wait until the receipts are totaled, before you calculate the rebate?
Americans would keep more of their money.
Wow, you failed that econ class, didn't you?
Or was it a math class?
Try to follow, Americans will pay the tariff that funds your tax cut, how does that mean they keep more of their money?
And with a protective tariff in place, American industry would begin to revive which would cause the 23% unemployed to go back to work.
How did industry benefit from the Bush steel tariffs?
Government outlays would go down as the unemployed went back to work.
How do higher oil prices reduce unemployment?
Buy American.
Now.
Higher prices for oil, NOW!
:)
At some point we have to start choosing to buy American.
I say that time is now.
Buy American.
More expensive energy, today! For the children!!!
Well to be honest I’m for increasing the cost of all imports, not just oil.
I believe we need to raise the costs of everything imported into America, by one level amount.
On all imports. This is the only way I can come up with, which wouldn’t increase the ability of Democrats to meddle in our economy. We’ll need to raise import tariffs on every single thing we import, in one identical amount.
I say do that tomorrow.
We need to balance our budget.
Now.
I know. Oil is just the dumbest part of your plan.
We need to balance our budget.
Awesome! The best way to balance the budget is to damage our economy.
I’ll tell you what damages our economy:
17 trillion dollars in debt.
Stop buying imports. Buy American.
Don't make it bigger.
Are we a turd world country yet?
Sorry, the major points of the Fair Tax is the abolition of the 16th AND the IRS. Again, I fail to see your ‘issue’.
It's an income tax cut. No plan is perfect.
"Will you wait until the receipts are totaled, before you calculate the rebate?"'
No need to wait. Government is either going to get tariff revenue, or income tax revenues from newly employed Americans. Government will get more if imports fall and Americans go back to work, because income taxes are higher than the new tariffs.
Besides I'm offering you a rationale to cut taxes. Aren't you free traders always arguing that our taxes are too high? Now I have a plan to cut them and you're backpedaling to beat 90!!! You can't have it both ways.
"Americans would keep more of their money." - DannyTN
Wow, you failed that econ class, didn't you?
I never failed an econ class. Not even the graduate level ones.
"Try to follow, Americans will pay the tariff that funds your tax cut, how does that mean they keep more of their money?"
They get a $1500 per worker cut in income taxes. They don't have to buy imports. They can pocket that money. Only now the American citizen gets to choose how or if that money gets spent. Before you were taxing them, so they had no choice.
How did industry benefit from the Bush steel tariffs?
It helped the steel industry. Until Bush backed down because Europe was crying and because he didn't want to reclaim our sovergnty from the WTO.
"How do higher oil prices reduce unemployment?"
Look around dude!!! Higher oil prices have created a lot of employment in the U.S. oil industry. Ever heard of Fracking??? Made possible due to higher prices. Only Saudi's and terrorist countries are benefiting from those higher prices. With a Tariff, America benefits.
better off making it a flat tax with no rebate
Yes, you fail to see.
LOL!
No need to wait. Government is either going to get tariff revenue, or income tax revenues from newly employed Americans.
Or higher oil prices will cause more unemployment.
Besides I'm offering you a rationale to cut taxes.
You want to cut taxes, cut the corporate income tax, highest in the world.
Aren't you free traders always arguing that our taxes are too high?
Sure. So let's not raise them.
You can't have it both ways.
Both ways? I want to cut. How is that both ways?
They get a $1500 per worker cut in income taxes. They don't have to buy imports. They can pocket that money.
Your plan would raise the cost of our 7 million plus barrels a day in imports. That money goes into your "tax cut pot of money" and it also raises the cost of our 7 million barrels a day of domestic production. That money doesn't go into that pot, it comes out of our wallets.
How many other instances of higher prices with no benefits do you think we can find in your plan?
I never failed an econ class. Not even the graduate level ones.
That's weird. How do you explain your errors?
They get a $1500 per worker cut in income taxes.
And prices rise more than $1500 per worker.
Only now the American citizen gets to choose how or if that money gets spent.
We can choose now, without government raising prices across the board.
Look around dude!!! Higher oil prices have created a lot of employment in the U.S. oil industry.
Awesome! If $100 oil created jobs, $200 oil will drop unemployment to 0%. LOL!
They won't rise more than $1500 per worker. Imports are equal to about 16% of our GNP. A 10% increase in tariffs means less than a 1.6% increase in the general price level.
The average worker in the U.S. earns about $40,000 a year. That means even if they continue buying imports at the same level, they will see an increase in prices of about $600.
And even if prices did rise more than $1500 per person, the fact is that we would have 30% more people working. That means more money spent in American. More customers for American businesses of all kinds. And that means a lot more money to go around.
The future tax burden will go down too. Right now we double pay for cheap imports. We pay when we buy the cheap imports. Then we pay through taxes to support the 100 million Americans who are now on food stamps, and Medicaid and Unemployment.
The cost of unemployed Americans is far higher than any increase in prices that will occur.
I just showed you a small part. If we import $250 billion in oil a year, import tariffs would raise prices by $25 billion. If we also produce $250 billion of domestic oil, those prices will increase $25 billion as well. Prices just rose twice as much as tariffs.
Do I need to continue, or does that old econ class you took give you any hints?
Retired Freepers will also probably like to thank you for raising their costs.
And even if prices did rise more than $1500 per person, the fact is that we would have 30% more people working.
Please (pretty please) show me how raising prices adds 30% more jobs.
Use you economics knowledge.
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