Success in America is an endangered species. Business bonuses are under heightened scrutiny; soon, making the right picks in the stock market or earning more than $200,000 per year will mean higher taxes. Sadly, the anti-success campaign is being lead by our Nation’s own misguided leader; President Obama. How can a US President, in good conscious, make it clear that any success enjoyed by the American people will be severely and immediately punished by the government and shunned by all?
Although the Obama Administration should be applauded for recognizing the important role the entrepreneur will play in any United States economic recovery, its latest stream of rhetoric has not been well received. With the federal government’s size and scope growing at an alarmingly accelerating pace, the latest rhetoric provided to the American entrepreneurial audience is misdirected.
With the country facing a bleak unemployment prospects, slowed economic growth, and excessive government spending it is clear that a fresh approach to taxation aimed at spawning growth and job creation. While no specific tax incentives are currently offered to entrepreneurs, such incentives would encourage economic growth, create jobs, and stem a growing outrage over executive compensation.
Socialism is defined in simple terms as an economic or political system in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy. It is characterized by very high government spending and tight government control over capital, natural, and human resources.
Milton Friedman was born on July 31, 1912. Friedman is without question my favorite Economist and I feel very strongly that many valuable lessons can be learned from his ideals and findings which would be particularly applicable to the challenges our economy faces today. Friedman lived through the great depression and experiencing it first hand. [...]