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2011 When It Rains It Pours

Permalink 07/17/10 10:49, by OGRE / (Jeff), Categories: Welcome, News, In real life, On the web, History, Politics, Health Care, Gulf Oil Spill, G-20, U.S. Economy

I fear that there may be a perfect storm brewing. Our economy is so complex and includes so many different factors; determining the future is mind numbing. With that in mind there are a few basic things that must be present for the economy to flourish.

* Individual freedom is at the top of the list. Without individual freedom there is no force by which producers can base their output.

* Capital (money/wealth) must flow freely through the private sector; it must NOT be directed by the government. Because the government cannot create capital; it makes no sense for the government to attempt to distribute it. Government has no idea what the value of anything is, because the government produces nothing.

* Regulations must be logical and have as little effect on the private sector as possible. Regulation should be limited to fraud prevention, legitimate environmental protection (not activism) and breaking up monopolies. Regulations, if found to be an economic burden, should be immediately removed.

* Taxes should not interfere with business decisions. In other words, the tax environment should be such that businesses are encouraged to grow. Taxes should not penalize productivity.

Those are just a few things I could come up with off the top of my head. The problem is that most people have absolutely no idea how the economy works, not even in the slightest since. This is not a good thing.

Most people these days are worried that when they take their car for service or repairs that they might be taken advantage of. Why? Because they are not very well educated about the internal workings of an automobile. It's funny to me that those same people who question an auto repair facility have absolutely no questions when the government steps up and says that they're going to overhaul the economy. There is nowhere you can go to get a second opinion, or is there?

The government has passed legislation with new restrictions on economic freedom. A bill that is more than 2000 pages. A bill that is so large it will take months for businesses and their legal teams to determine what effects the regulations will have on their economic activities. A bill of restrictions. More than 2000 pages of what businesses CAN'T DO! This makes the private sector shrink (or at least hold on to their money). Why would anyone invest when they don't know what future activity will be productive because of new restrictions?

This is like a city announcing that they might allow hot dog vendors on their streets. If they do allow hot dog vendors, the vendors hours of operation will be limited. You hot dog cart must be a single axle vendor cart. You must be 50ft or more from an intersection. Your cart must not be highly reflective, as to cause a distraction. You are not allowed to have an awning attached to the cart which is more than 10 feet wide. Now imagine is this list went on for 2000 pages! How many people are going to buy vendor carts for use in that city? Get the picture?

Economic freedom is the force that drives The United States of America; plain and simple. Without economic freedom, the economy slowly dies.

So why, when the economy is not doing well, would the government want to reduce economic freedom (through regulation)? That would imply that the level of economic freedom prior to this new regulation was "too much". I have one question for you.

Do you accept this premise? The government needs to correctly determine the amount of economic freedom required to "fix" the U.S. economy.

To assume that the government can determine some magical "correct" level of economic freedom is absurd. But that is what the current government claims is necessary.

To add to this ALL taxes are about to increase. Taxes will increase in 2011 without congress even lifting a finger.

These two things combined; decreased economic freedom and increased taxes are the perfect storm. 2011 is going to be one wild ride. I just hope we can weather the storm.

Voting is the only viable answer. Vote against people who wish to limit your freedom economically or otherwise!

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I believe that for the United States of America to survive, we will have to get back to our roots.


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