Open letter to President Obama (Part 594) Where the USA’s economic success come from?

Open letter to President Obama (Part 594)

(Emailed to White House on 6-10-13.)

President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500

Dear Mr. President,

I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is going on out here.

The federal government debt is growing so much that it is endangering us because if things keep going like they are now we will not have any money left for the national defense because we are so far in debt as a nation. We have been spending so much on our welfare state through food stamps and other programs that I am worrying that many of our citizens are becoming more dependent on government and in many cases they are losing their incentive to work hard because of the welfare trap the government has put in place. Other nations in Europe have gone down this road and we see what mess this has gotten them in. People really are losing their faith in big government and they want more liberty back. It seems to me we have to get back to the founding  principles that made our country great.  We also need to realize that a big government will encourage waste and corruption. The recent scandals in our government have proved my point. In fact, the jokes you made at Ohio State about possibly auditing them are not so funny now that reality shows how the IRS was acting more like a monster out of control. Also raising taxes on the job creators is a very bad idea too. The Laffer Curve clearly demonstrates that when the tax rates are raised many individuals will move their investments to places where they will not get taxed as much.

______________________

Where the USA’s economic success come from?

An Amazing Story of Economic Success

I’ve written before about the remarkable vitality of Hong Kong and Singapore, two jurisdictions that deserve praise for small government and free markets.

Monaco T

Pretending to be a jet-setter in Monaco

I have also praised Switzerland because of policies such as genuine federalism and financial privacy, and it goes without saying that I admire tax havens such asBermuda, Monaco, and the Cayman Islands

I’m a big fan of Estonia, which has made big strides thanks to the flat tax and other free market reforms.

Australia also is one of my favorite nations, in part because of its privatized Social Security system.

Even Canada and Sweden have earned my praise for recent economic reforms.

But here’s a video, produced by the folks at The Fund for American Studies, that identifies an even more impressive economic miracle.

How Nations Succeed: What’s the Secret to Ending Poverty?

Published on May 1, 2013

http://www.TFAS.org/HowNationsSucceed Find out how one nation rose from poverty to unprecedented wealth in just a few generations in this eye-opening web video from The Fund for American Studies. The video raises the question: Will the United States continue to progress and innovate, or will big government stifle economic growth and innovation? Narrated by economist Michael Cox, the video comes during a time of economic uncertainty and calls on viewers like you to decide which path is best for the country.

______________

I did guess the country in the video, but only a few seconds before the narrator spilled the beans. My excuse is that I watched early on Sunday morning, when civilized people should still be asleep.

But allow me to atone for my slowness by adding a very important point about growth. The country in the video became successful because it enjoyed a very long period of decent growth. But that has recently changed for the worse.

And things got worse when statists were in power, as even the Washington Post has acknowledged.

The lesson to be learned is that even small differences in growthcan make a big difference over time.

By some measures, Hong Kong and Singapore are now richer than the United States. The simple reason is that those jurisdictions have been enjoying 5 percent-plus growth for decades while the United States economy has struggled to achieve 3 percent growth.

Then again, the United States is more prosperous than most European nations, though that may be an example of damning with faint praise.

_____________

Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your commitment as a father and a husband.

Sincerely,

Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733, lowcostsqueegees@yahoo.com

Related posts:

Dan Mitchell explains what happened in Cyprus

Dan Mitchell explains what happened in Cyprus.   What Really Happened in Cyprus? April 14, 2013 by Dan Mitchell Did Cyprus become an economic basket case because it is a tax haven, as some leftists have implied? Did it get in trouble because the government overspent, which I have suggested? The answers to those questions are […]

Dan Mitchell on Obamacare (includes cartoons on Obamacare)

Some very good points by Dan Mitchell of the Cato Institute on Obamacare: Why We Should Be Optimistic about Repealing Obamacare and Fixing the Healthcare System April 10, 2013 by Dan Mitchell I’m going to make an assertion that seems utterly absurd. The enactment of Obamacare may have been good news. Before sending a team of medical […]

Dan Mitchell’s blog has great cartoon that demonstrates what President Obama has been doing the last 4 years!!!

I have put up lots of cartoons from Dan Mitchell’s blog before and they have got lots of hits before. Many of them have dealt with the economy, eternal unemployment benefits, socialism,  Greece,  welfare state or on gun control.     I’ve Obtained a Secret Pre-Release Copy of Obama’s Budget April 9, 2013 by Dan Mitchell The President is supposed to release […]

Dan Mitchell’s tribute to Margaret Thatcher

Very well said by Dan Mitchell. A Tribute to Margaret Thatcher April 8, 2013 by Dan Mitchell The woman who saved the United Kingdom has died. A Great Woman I got to meet Margaret Thatcher a couple of times and felt lucky each time that I was in the presence of someone who put her nation’s […]

Dan Mitchell, Ron Paul, and Milton Friedman on Immigration Debate (includes editorial cartoon)

I like Milton Friedman’s comments on this issue of immigration   and Ron Paul and Dan Mitchell do well on the issue too. Question of the Week: What’s Your Take on the Immigration Debate? April 7, 2013 by Dan Mitchell A reader from overseas wonders about my views on immigration, particularly amnesty. I confess that this is one of […]

Dan Mitchell on Texas v. California (includes editorial cartoon)

We should lower federal taxes because jobs are going to states like Texas that have low taxes. What Can We Learn by Comparing the Employment Situation in Texas vs. California? April 3, 2013 by Dan Mitchell One of the great things about federalism, above and beyond the fact that it both constrains the power of governments […]

Cartoons from Dan Mitchell’s blog on Obamacare

Third-Party Payer is the Biggest Economic Problem With America’s Health Care System Published on Jul 10, 2012 This mini-documentary from the Center for Freedom and Prosperity Foundation explains that “third-party payer” is the main problem with America’s health care system. This is why undoing Obamacare, while desirable, is just a small first step if we […]

Obamacare cartoons from Dan Mitchell’s blog

I have put up lots of cartoons from Dan Mitchell’s blog before and they have got lots of hits before. Many of them have dealt with the economy, eternal unemployment benefits, socialism,  Greece,  welfare state or on gun control. The funniest cartoon is the one with “Nurse Sebelius” stuffing the huge capsule down the kid’s throat!!! Obamacare […]

Editorial cartoon from Dan Mitchell’s blog on California’s sorry state of affairs

I have put up lots of cartoons from Dan Mitchell’s blog before and they have got lots of hits before. Many of them have dealt with the sequester, economy, eternal unemployment benefits, socialism,  minimum wage laws, tax increases, social security, high taxes in California, Obamacare,  Greece,  welfare state or on gun control. President Obama’s favorite state must be California because […]

Dan Mitchell of the Cato Institute:HUD has to go!!!! (includes political cartoon)

You want a suggestion on how to cut the government then start at HUD. I would prefer to eliminate all of it. Here are Dan Mitchell’s thoughts below: Sequestration’s Impact on HUD: Just 358 More Days and Mission Accomplished March 12, 2013 by Dan Mitchell As part of my “Question of the Week” series, I had […]

By Everette Hatcher III | Posted in Cato Institute, Economist Dan Mitchell, spending out of control | Edit | Comments (0)

Advertisements
Post a comment or leave a trackback: Trackback URL.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: