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A Lesson In Economics June 28, 2010

Posted by ev0rev in Politics.

How ironic that our own government had to receive a dressing down from the European Union on responsible economic reform.  Historically it has been the U.S. that pressed for lower taxation rates and fiscal responsibility with regard to social programs and bureaucratic bloat.  In an astounding reversal of roles, however, it is the U.S. that has received that same message from it’s European counterparts at the G20 summit in Toronto.

The German economy, for example, has fared far better than most of her European counterparts as well as that of the U.S..  Cuts in corporate tax rates and tightened spending on government programs are largely responsible.  Likewise, the United Kingdom has made a commitment to reign in deficit spending.

Why can’t we (the U.S.) take a lesson from the Europeans?  Germany, the UK and Canada all had very strong messages for President Obama.  Namely, as the largest economy in the world  (for the moment anyway) our actions directly impact the economies of everyone else.  It is, therefore, imperative  that we lower our corporate tax rates and make the tough cuts that the UK and other European nations have been forced to do.  The writing is very clearly on the wall.  Let’s hope that our leaders have read the words and taken them to heart.


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