Friday, October 24, 2008

The Heritage Foundation on How An Obama Administration Will Kill Economic Growth

A Few Ways to Kill Economic Growth by Guinevere Nell, The Foundry blog
Guinevere Nell is a research programmer at The Heritage Foundation's Center for Data Analysis, focusing on the impact of economic policies on American entrepreneurship.

"It appears more and more likely with each passing day that we’ll wind up with an Obama administration. If Obama is elected, we will face a lengthy list of policy proposals that are supposed to help the less fortunate but in fact just kill economic growth. He would expand the welfare roles through tax credits to those who pay no taxes, restrict the freedom of employers to pay workers what they are worth, grant unions and government officials power over workers and business, and put government in the business of employing the out-of-work. Each of these proposals has been proven in the past to kill jobs and drag the economy down. Here are just a few examples:"

Click here for the rest of the article.

1 comment:

  1. I love their first point: "In fact, he would greatly shift the burden to the rich, even though the tax code is already highly progressive. Of course, higher taxes on the successful reduce their incentive to work and invest. This kind of redistribution can only be a drag on growth." New jobs created under Bush's less progressive tax system: 4 million. New jobs created under Clinton's more progressive tax system: 23 million. Of course, I suppose you could still argue Clinton actually created those jobs in spite of his tax system, but that he was just a significantly better president than Bush.