Economic Lessons for America

I’ve been asking anyone that will listen: “Greece is a microcosm of our future.  What do you think is going to happen there?  Are they going to declare bankruptcy and tell everyone they’re no longer open for business?”

A great article in Forbes about five lessons from Europe.  We need to pay attention:

1. Higher taxes means more government, not lower deficits.
2. A value-added tax would be a disaster.
3. A welfare state cripples the human spirit.
4. Nations reach a point of no return when the number of people mooching off government exceeds the number of people producing.
5. Bailouts don’t work.

 

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