Newsletters : Current Newsletters : 29 January 2010
Thought for the Day

Arthur Laffer in a recent (September 2009) Wall Street Journal editorial wrote, “The damage caused by high taxation during the Great Depression is the real lesson we should learn. A government simply cannot tax a country into prosperity. If there were one warning I'd give to all who will listen, it is that U.S. federal and state tax policies are on an economic crash trajectory today just as they were in the 1930s.”

No country can tax itself into prosperity! Wise words indeed. Didn't we see that when our tax was reduced to 33% from 66% (and government regulations reduced) that the country prospered? This happened only 26 years ago. Are our memories so short? Or are we still living under the belief that our government can somehow magically produce money for us and pay for all our needs?

Time to make a break from socialist thinking to capitalist thinking. A bit like the Chinese have done for the last 30 years.

The next article gives us a method for achieving this aim.


Jan 29, 2010, 11:52