2 July 2009
The American Economy
Posted by Bryon under: Constitution in Peril; World Economy .
This was also on the Voice of the soldier. Just thought I would share it with you.
Who created 50 million jobs in America? Who paid wages fo high that the poorest workman could afford luxuries even the rich in other countries never had? Who paid for the research to develop new postwar products which could be providing greater prosperity than the world ever saw?
American industry—spurred on by the chance for profit.
It has paid more taxes, provided more jobs, paid higher wages, produced more goods at lower prices, developed more national security than any other system in any other time in any other part of the world.
Now this great force which has done all this for America is being treated by elements of government and labor as though it were an enemy. Industry is told what it must pay but government wants to decide what it can keep; industry managers who supply the brains to keep all business going are cut back and back in profit an the right to manage; a thousand regulations trip, hamstring and block business progress. The wonder is that American industry and those who own and manage it bother to keep on hoping and working.
It might pay all of us who share in industry’s benefits (all 129,999,000 of us) to examine the thousand or so who are
trying to kill it. Regardless of their names, the accent is foreign.
“The idea that even the brightest person or group of bright people, much less the U.S. Congress, can wisely manage an economy has to be the height of arrogance and conceit. Why? It is impossible for anyone to possess the knowledge that would be necessary for such an undertaking.”
- Economist Walter F. Williams
“Government has only two ways of getting money other than raising taxes. It can go into the money market and borrow, competing with its own citizens and driving up interest rates, which it has done, or it can print money, and it’s done that. Both methods are inflationary.”
- Ronald Reagan
You cannot help the poor by destroying the rich.
You cannot strengthen the weak by weakening the strong.
You cannot bring about prosperity by discouraging thrift.
You cannot lift the wage earner up by pulling the wage payer down.
You cannot further the brotherhood of man by inciting class hatred.
You cannot build character and courage by taking away people’s initiative and independence.
You cannot help people permanently by doing for them, what they could and should do for themselves.
- Abraham Lincoln
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