Friday, March 1, 2013
The big picture -- Get America back to work
In the end, a national economy is the collective productivity of its citizens -- their output of goods and services. Whether we like it or not, the government sector (i) does not produce much in the way of goods and services (they inhibit such production) and (ii) that which they do produce tends to be terribly inefficient (i.e., it consumes more in resources than that good or service is worth).
Thus, to make our economy more robust we need to do two primary things (i) unleash the creative and entrepreneurial capability of the citizenry, and encourage hard work and (ii) reduce the ratio of the economy that is in the unproductive sector, i.e., government.
Now, in the end, all but socialist central planners would agree that the above is true. So, the question is, how do we accomplish that?
We tax less and regulate less of the private economy, and reduce the unproductive sector, which from taxes and regulation acts as a drag on the private economy, the productive sector.
This should seem so self-evident to our policy-makers, but they can't resist the temptation to centrally plan and manage the economy, through tax policy, government programs, and government regulations. Time and time again, we have seen it does not work, yet they persist.
So, Senator Portman, Speaker Boehner and Congressmen Chabot, Massie, and Wenstrup, get crackin'. America needs a new direction.