November 22, 2017

How to make the U.S. #1 in economic freedoms

The U.S. isn’t even in the top three on key economic freedoms. Tell Congress to fix this. Retweet

The U.S. lags behind four countries in key economic freedoms. We also lag behind them in wealth and longevity. This must change. Use our new campaign to tell Congress how to start making the U.S. #1 in economic freedom.

The hardwired letter to Congress reads… 

Economic Freedom leads to Prosperity

It bothers me that we lag behind Hong Kong, Singapore, Ireland, and Switzerland in key economic freedoms. They have greater wealth and longer lives. They also have lower taxes, decentralization, and lower or more efficient spending. I want you to model those policies.

You’ll find the following additional comments to Congress on our website. You can use them, edit them, or replace them to craft your own letter to Congress….

Take note of these facts…

U.S. per capita GDP is $57,607. Hong Kong does $770 better. Switzerland is $2,767 higher. Ireland does $11,669 better. Singapore does a whopping $30,225 better than we do. And there’s a corresponding difference in life expectancy too…

U.S. life expectancy is 79.3 years compared to…
Ireland – 81.4
Singapore – 83.1
Switzerland – 83.4
Hong Kong – 83.7

Does this happen because these countries are more “socialist” than the U.S.? Quite the opposite. For instance…

The U.S. has by far the highest tax burden as a percentage of GDP…
Hong Kong – 14%
Singapore – 14%
Ireland – 28%
Switzerland – 29%
U.S. – 39%

The U.S also has the highest maximum personal tax rate…
Hong Kong – 15%
Singapore – 22%
Switzerland – 35.7%
Ireland – 52%
U.S. – 52.9%

And the highest corporate tax rates too…
Ireland – 12.5%
Hong Kong – 16.5%
Singapore – 17%
Switzerland – 35.7%
U.S. – 47%

And these differences would still hold even if these countries spent as much on defense as the U.S. does.

It’s embarrassing when the supposed “land of the free” actually has less economic freedom than other places do. Even worse when it corresponds to less affluence and shorter lives. So here’s what I want you to do…

Cut personal and corporate taxes. But go one step further. Cut spending too. We currently have the 14th highest debt as a percentage of GDP, while Switzerland has a surplus. One way you can achieve this is by decentralizing. Most spending in Switzerland happens at the canton level. Singapore, Hong Kong, and Ireland are all small countries where the spending also happens closer to the people.

Here at home, honor the 10th Amendment. Downsize DC and leave more matters to the states, localities, and people.

I want more wealth and a longer life! Stop hurting me!


Thanks for being an ACTIVE DC Downsizer,

Perry Willis & Jim Babka
Downsize DC

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