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.

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

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.

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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.

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

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