Thursday, February 5, 2009

Debt, high taxes economy killers

From Washingtontimes.com:

The best way to pull out of the recession is to keep America competitive in the global marketplace. Competition, both domestically and from abroad, keeps prices low for American consumers and businesses. It also makes us attractive to foreign investors.

The evil twin of high taxes is expanding government spending, and here our performance is deteriorating as well. In the U.S., government (federal, state and local combined) consumes about 37 percent of our economic output. Compare that to China, which claims its government consumes only 30 percent of its economy. It's shocking that, a communist government can boast of consuming less GDP than the U.S. government.

The best recipe for pulling America out of the recession is no secret. It´s a strategy to keep America competitive through: Real tax cuts that lower top tax rates on individuals and businesses (not give-backs or short-term credits that do nothing for the economy), reforming entitlements and putting the brakes on discretionary government spending.

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