The Debt Crocodile: Losing my Mojo III
We did in December a piece about how the US has lost its competitive tax advantage to Europe of all places. What? Yes, with the proposed health care taxes, the US has higher marginal tax rates than Europe (See http://bit.ly/7sCNXl)? This week, we did a piece on the Heritage Economic Freedom Index, where the US has slipped in its Freedom Score (See http://bit.ly/8iS369). It is extremely disturbing that the US is no longer considered to be a "free" country by Heritage. It is now only cosidered "mostly free" (See Heritage site http://bit.ly/65rIHh). Did you catch that? We are no longer a "free" country, as determined by Heritage.
In addition to EconomyPolitics and Heritage, the Economist has also weighed in saying that the growth of the United Sates must stop its spending binge (See http://bit.ly/6sBHPG). You know that it is pretty bad when the Europe is Chastising the US over spending (See Graph Below)