Steps to Killing Entrepreneurship and America

Written By Gary Spirer Published November 20th, 2009

The politicians have forgotten who they represent and are destroying America by the following steps:

  1. 1. Crackpot economics – No sound business would ever exist running up huge amounts of debt and deficits.
  2. 2. Bailout of the large – Buy banks by bailing out banks, insurance, auto (unions).
  3. 3. Provide more access to healthcare – Increase the cost to astounding numbers (huge deficits) while not providing any increase in quality.  Instead, overregulating so special interest groups benefit – insurance, pharmaceutical, hospitals and professional groups.
  4. 4. Abandon the small – Small businesses, the true core of the American spirit and innovation, are suffering access to credit and the capital markets. 
  5. 5. Change the laws – The bailout of GM and Chrysler was a shameless attack on the heart of the American legal system.  Change the bankruptcy – creditor protections – to serve political interests (union votes).
  6. 6. Stimulate the economy – Promote the worst exhibition of human and political greed by stimulus bills so full of biased pork barrel legislation that you can and will smell the rotten pork for years to come.
  7. 7. Tax the successful to buy the votes of the less successful – Tax and polarize the rich to feed the frustration and misfortunes of the less rich.  Instead, encourage the rich to invest in innovation and new companies to benefit employment and standard of living.
  8. 8. Give banks money with no specific mandates to lend it to small businesses or to credit worthy homeowners – Banks are better off investing in securities and trading stocks and currencies when they are too big to fail and their cost of capital is artificially low.
  9. 9. Continue to pursue a policy of encouraging too much home ownership to people that do not qualify – The government is still guaranteeing loans to people that do not qualify because it is politically popular.  This will continue to increase government debt and fuel another crisis. 
  10. 10. Artificially reduce short term interest rates – The government continues to to keep short term rates low which encourages speculation and continues a false propping up of the economy.
  11. 11. Mortgage the future of America by saddling it with enormous debt and deficits for short term political gains – America is ceding its position as a leading economic power to China.  America risks its currency with its dependence on China to fund its debt.  Over time, China and India will decouple more from the United States which will leave the U.S. with limited growth and heavy taxation.
  12. 12. Bail out the unsuccessful companies instead of encouraging the more successful ones – The U.S. has set precedent to encourage more mismanagement by injecting itself into the private sector for political gains.  The public presence distorts and delays real market forces penalizing the efficient and subsidizing the inefficient.
  13. 13. Redistribution of wealth from those that played by rules – American taxpayers are seeing their pockets picked by pork barrel, clunker cash, mortgage bailouts by people, companies and government at all levels that lived beyond their means.  Why play by the rules when your profligate neighbor, the bankrupt corporations and the overspending deficit-ridden governments run by merit-less bureaucrats’ rule? 
  14. 14. Hide the fact that the middle class will see higher taxes directly and indirectly – The purchasing power of the dollar will decline.  Healthcare costs will rise.  Wages will fall to pay for increased healthcare.  Prices will rise as healthcare and carbon cap taxes are passed on by companies.
  15. 15. Apologize for America – No country is perfect.  No countries have given as much as the U.S. We have used our tremendous resources to protect others while most countries gladly watch.  Do we act to protect our strategic interests in oil and other resources? Yes.  Have we made mistakes?  Yes.  But, overall, we have saved the world in the wars and by our innovations.  Much of the world should thank us, and many owe us big apologies. 
  16. 16. Interfere with the normal ups and downs of markets – The government has injected itself into the markets.  We should have used the recession to purge the undeserving instead of bailing them out using up our collective and individual wealth. 

The list will go on. There is much to add. You want to know these steps so you can protect your finances and life as best as possible. It’s not all bad, but it’s clearly getting worse.

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