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.

[i_robot73]

Wow, your rebuttal sure showed me the error of my ways /s

Let’s say the F.T. is passed. Tell me again HOW the IRS (which would cease to exist) would ‘nose’ into every purchase (since biz would be remitting, as they do today)? And exactly where/what would this ‘black market’ encompass you see looming?

[Innovative]

It is really pathetic — our once great nation doesn’t even make it into the top ten...

Thanks, Obama and Dems. :(

[Innovative]

“We’ve traded freedom for “security” funded by fake money.”

We don’t have security either...

[Innovative]

“The Obama administration continues to shackle entire sectors of the economy with regulation, including health care, finance and energy. The intervention impedes both personal freedom and national prosperity. “

Exactly right.

[Innovative]

Just look at all the countries that are ahead of the US in economic freedom.

1. Hong Kong

2. Singapore

3. Australia

4. Switzerland

5. New Zealand

6. Canada

7. Chile

8. Mauritius

9. Ireland

10. Denmark

11. Estonia

12 UNITED STATES

[DannyTN]

Domestic oil prices won't necessarily rise. You're assuming no change in supply. But we are already seeing increases in supply due to the current price level.

Imported oil prices may not even rise. OPEC may decide that it's better to keep the price down to prevent further innovation, and they may lower their price. In that case, our tariff, would be offset by them taking lower profits.

Prices are currently falling because U.S. Production is going up. That's driven by the current price. U.S. Production is expected to continue increasing for a while, until the price of oil drops further.

If you raise the tariffs on imported oil, you might get a temporary price increase, but that will just help speed the increase in U.S. production. Which is good for the U.S. and good for U.S. jobs.

[DannyTN]

Domestic oil prices won't necessarily rise. You're assuming no change in supply. But we are already seeing increases in supply due to the current price level.

Imported oil prices may not even rise. OPEC may decide that it's better to keep the price down to prevent further innovation, and they may lower their price. In that case, our tariff, would be offset by them taking lower profits.

Prices are currently falling because U.S. Production is going up. That's driven by the current price. U.S. Production is expected to continue increasing for a while, until the price of oil drops further.

If you raise the tariffs on imported oil, you might get a temporary price increase, but that will just help speed the increase in U.S. production. Which is good for the U.S. and good for U.S. jobs.

[AngelesCrestHighway]

Exactly!...What a shock!!!

[AngelesCrestHighway]

Thanks to Captian Yak-Ass Obama!

[Toddsterpatriot]

Domestic oil prices won't necessarily rise.

You're joking, right?

You're assuming no change in supply.

Not at all.

Imported oil prices may not even rise. OPEC may decide that it's better to keep the price down to prevent further innovation, and they may lower their price.

How much do you feel we import from OPEC?

If you raise the tariffs on imported oil, you might get a temporary price increase, but that will just help speed the increase in U.S. production. Which is good for the U.S. and good for U.S. jobs.

Hell, if that's the case, double the price.

When you factor in the recession that will occur, we won't need nearly as much oil.

[DannyTN]

"How much do you feel we import from OPEC? "

Not that much. But OPEC still influences the world price. Oil being fungible.

Still a 10% increase on all mining products including oil is a 1% increase to our general prices. Not going to cause a recession or very much heartburn.

[VerySadAmerican]

Stand by, Danny! The “W can do no wrong” lovers will be comin’ for ya’!