Tuesday, August 30, 2011

Resources For Lawmakers

The post below is an extremely informative article which appeared in the Washington Times opinion section.  This is a simple example of how resources for new ideas and solutions are available at our legislators' fingertips, if only they would bother to read.  Perhaps however, reading about successful ways to manage the economy is not what is needed in Washington.  We can make a few suggestions which we feel would help in addition to reading this excellent review. American legislators should:
  • Put country first
  • Listen to constituents
  • Loyalty to the benefit of the people should come before loyalty to party.
  • Renounce greed and corruption
  • Embrace fiscal conservatism
  • Become informed individually and independently instead of waiting for the president's minions to put forth political ideas
How many of our representatives and senators do you, our readers, believe are following the above, or would you agree that they are willing to change their ways?  How tragic that we have lost faith in those whom we elect to represent us.  How sad, that most voters utter such phrases as "Politicians are some of the biggest crooks out there."!

We at Two Sisters From The Right agree with Richard Rahn, author of this review.  If all our congressmen would read these books and attempt to implement some of the workable solutions, our economic recovery would begin.

TWO SISTERS

RAHN: Growing the economy for dummies

New books put answers right at our policymakers fingertips.


by Richard W. Rahn - The Washington Times


Protesters gather Saturday near the
 Capitol in Washington during a rally
 against the president’s health care plan
 and out-of-control spending.
 (Associated Press)
Did you know that in Denmark, the poorest 30 percent pay 14.1 percent of all taxes and the richest pay 48.7 percent, while in the United States, the poorest 30 percent pay just 6.1 percent of all taxes and the richest 30 percent pay a whopping 65.3 percent? The surprising thing is not that the richest pay most of the taxes but that the U.S. has nearly the most progressive tax system in the world, while the Scandinavian countries have about the least progressive tax systems, contrary to commonly held belief.

The above facts, along with hundreds of other useful tidbits, are found in a compelling new book, “Government Versus Markets: The Changing Economic Role of the State” (Cambridge University Press, 2011), by Vito Tanzi. Mr. Tanzi is one of the world’s most highly regarded economists, and for good reason. As a senior economic official of the International Monetary Fund for two decades, an undersecretary for economics and finance in the Italian government and author of 14 books, he does not let his biases get in the way of empirical evidence.

In his new book, Mr. Tanzi clearly shows how governments in most developed countries have grown over the past century. The many tables are a delight for us data hounds. Some advocates of higher taxes argue that tax rates on labor do not have much impact on the willingness to work, but Mr. Tanzi gives us a very clear chart plotting the tax rate on labor versus the number of hours worked per year in many countries. It shows that there is a strong inverse relationship between tax rates on labor and hours worked. Such facts are inconvenient for the big-government, high-tax crowd. Mr. Tanzi is far from being anti-government, but the facts and data he presents show how most governments have grown far beyond the optimum point, and he is a bit pessimistic about the ability of democracies to rein in excessive and destructive government.

Near the end of the book, Mr. Tanzi observes: “Once the population of a country (or, more often, groups within it) come to see the government as a potential cow that can be milked, there is no longer a limit to the demands for more public spending. There are literally infinite ‘needs’ of the population, and infinite groups capable of organizing politically, to press for more government spending or other government actions that would benefit them.”

But despite Mr. Tanzi’s pessimism, he documents how two countries, Sweden and Canada, have changed course and reduced the size of government because the body politic came to understand that the cow was being overmilked and soon would go dry or die.

By happenstance, Peter Ferrara has written “America’s Ticking Bankruptcy Bomb” (Broadside Books, 2011), which is almost a companion piece to Mr. Tanzi’s book. Where Mr. Tanzi primarily uses data to show the global growth of government spending, taxing and regulation, Mr. Ferrara gives us more of a historical narrative of how the United States got to this point. Mr. Ferrara served in President Reagan’s White House Office of Policy Development and, subsequently, in President George H.W. Bush’s Justice Department and has spent much of his life developing and proposing policies that would lead us back to economic sanity. His new book not only gives us the history of the various programs and how they contributed to the current debt crisis but also proposes solutions, including describing what other countries have done to deal successfully with similar problems.

Mr. Ferrara’s chapter on the retirement debt bomb clearly describes how the Social Security funding solution has been well-known to U.S. policymakers for 30 years, yet many politicians have preferred to demagogue the issue rather than solve the problem. Chile was the first nation in the Americas to adopt a traditional social security system, way back in 1925 - 10 years before the United States. By the late 1970s, however, the Chilean system was running out of money despite higher and higher taxes. The young labor minister, Jose Pinera, who has a doctorate in economics from Harvard, led a fundamental reform of the system from a government-defined benefit system to a private-account defined-contribution system, which is owned by the workers.

The Chilean system has been so successful during the past 30 years that it has been copied by more than 30 countries, including Sweden and Australia. Chileans retire with far more wealth than the average American, despite the fact that Chile is just a low-middle-income country. In both Chile and the United States, employers are required to set aside a little more than 12 percent for the pension program, but in Chile, someone with the same earnings as an American will be getting $55,000 as an annual pension, while the American, working the same number of years, just gets $18,000.

The fact, as Mr. Ferrara explains so well, is that we need not have miserable retirement and government medical systems that barely serve the needs of the people while driving the country into bankruptcy. What we need instead are programs in which individuals have control over their own retirement and medical accounts and have the flexibility to design them to meet their needs. Other countries have proved it can be done.

If every member of Congress and Washington policymaker would read the books by Mr. Tanzi and Mr. Ferrara and act upon their recommendations, our fiscal and entitlement mess would soon be part of a dark past.

Richard W. Rahn is a senior fellow at the Cato Institute and Chairman of the Institute for Global Economic Growth.

© Copyright 2011 The Washington Times

8 Comments:

At September 10, 2015 at 12:53 AM , Blogger oakleyses said...

longchamp outlet, michael kors outlet online, oakley sunglasses, louboutin uk, ray ban sunglasses, uggs outlet, louis vuitton, ralph lauren polo, tiffany jewelry, burberry outlet, oakley sunglasses, gucci handbags, tory burch outlet, replica watches, uggs on sale, louis vuitton outlet, longchamp outlet, prada handbags, nike outlet, nike free, louis vuitton outlet, nike air max, christian louboutin, longchamp bags, ralph lauren outlet, prada outlet, nike air max, louboutin shoes, oakley sunglasses, louis vuitton handbags, replica watches, ray ban sunglasses, cheap jordans, michael kors outlet online, michael kors outlet, michael kors outlet store, michael kors handbags, louis vuitton outlet online, tiffany jewelry, burberry factory outlet, michael kors, uggs on sale, christian louboutin, uggs on sale, uggs outlet

 
At September 10, 2015 at 12:57 AM , Blogger oakleyses said...

nike free pas cher, vanessa bruno pas cher, longchamp pas cher, lunette oakley pas cher, true religion outlet, nike air force, coach outlet store online, nike air max pas cher, nike tn pas cher, true religion outlet, michael kors outlet online, nike air max, burberry pas cher, ray ban uk, new balance, nike roshe run pas cher, hollister uk, timberland pas cher, polo lacoste pas cher, abercrombie and fitch, chanel handbags, michael kors, hermes pas cher, kate spade, coach outlet, coach outlet, longchamp soldes, true religion jeans, sac guess pas cher, michael kors, coach purses, hogan sito ufficiale, true religion outlet, vans pas cher, lululemon outlet, north face uk, kate spade outlet, jordan pas cher, michael kors uk, lunette ray ban pas cher, ralph lauren pas cher, louboutin pas cher, converse, nike blazer pas cher, north face pas cher

 
At September 10, 2015 at 12:58 AM , Blogger oakleyses said...

herve leger, hollister clothing, abercrombie, ghd hair, polo ralph lauren uk, nike free, bottega veneta, nike air huarache, mont blanc, vans outlet, nike air max uk, wedding dresses, mcm handbags, softball bats, hermes handbags, nike air max uk, abercrombie and fitch UK, soccer jerseys, nfl jerseys, soccer shoes, nike roshe uk, valentino shoes, beats by dre, longchamp uk, giuseppe zanotti, p90x workout, salvatore ferragamo, north face outlet, abercrombie and fitch, mac cosmetics, lululemon outlet, new balance shoes, instyler ionic styler, mulberry uk, nike trainers uk, north face outlet, chi flat iron, nike air max, nike roshe run, asics running shoes, babyliss pro, insanity workout, reebok outlet, jimmy choo outlet, celine handbags

 
At December 7, 2015 at 7:46 PM , Blogger Minko Chen said...

the north face outlet
nike outlet store
true religion canada
michael kors outlet online
louis vuitton handbags outlet
timberland shoes
michael kors handbags outlet
chanel outlet store
ray-ban sunglasses
michael kors outlet
belstaff outlet
michael kors factory store
barbour jackets
ghd uk
nfl jerseys
tory burch outlet online
oakley sunglasses
polo ralph lauren
nobis jacket
new balance shoes
1208minko

 
At January 3, 2016 at 6:47 PM , Blogger mmjiaxin said...

coach outlet online
tory burch outlet online
oakley sunglasses uk
coach outlet online
ysl outlet
longchamp handbags outlet
mulberry uk
oakley sunglasses canada
north face outlet
chanel handbags outlet
beats by dre
the north face outlet
michael kors outlet
canada goose jackets
pandora outlet
true religion outlet
coach factory outlet
mulberry outlet,mulberry handbags outlet
camisetas futbol baratas
replica watches
mm0104

 
At February 25, 2017 at 12:56 PM , Blogger dalia alaa said...

http://www.prokr.net/2016/09/spraying-companies-16.html
http://www.prokr.net/2016/09/spraying-companies-15.html
http://www.prokr.net/2016/09/spraying-companies-14.html
http://www.prokr.net/2016/09/spraying-companies-13.html
http://www.prokr.net/2016/09/spraying-companies-12.html
http://www.prokr.net/2016/09/spraying-companies-11.html

 
At February 25, 2017 at 12:56 PM , Blogger dalia alaa said...

http://www.prokr.net/2016/09/spraying-companies-10.html
http://www.prokr.net/2016/09/spraying-companies-9.html
http://www.prokr.net/2016/09/spraying-companies-6.html
http://www.prokr.net/2016/09/spraying-companies-5.html
http://www.prokr.net/2016/09/spraying-companies-3_14.html
http://www.prokr.net/2016/09/spraying-companies-3.html
http://www.prokr.net/2016/09/spraying-companies-2.html

 
At December 1, 2017 at 9:13 AM , Blogger develop robots said...

medical software development

 

Post a Comment

Subscribe to Post Comments [Atom]

Links to this post:

Create a Link

<< Home