Obama’s $800 billion stimulus bill has both policy makers and the public wondering what the bill will actually manage to stimulate. Yet, somewhat surprisingly, a recent study shows that left to fend for itself, the United States is inherently prosperous.
The Legatum Prosperity Index recently released a study of the most prosperous nations, measuring economic growth and quality of life. The study found that the U.S. – despite its current economic situation – ranks fourth out of 104 nations.
The amount of wealth and sense of well-being enjoyed by U.S. citizens is higher than any among large countries, with no other country with more than 100 million inhabitants ranking above the top 10.
The Index measures nations overall by “how well they foster the practices, institutions, and habits that create competitive economies, stable and free political institutions, and social capital.”
When looking at prosperity in this fashion, America and its ability to foster both economic and non-economic progress is what puts it so high on the scale. The US still rewards innovation and entrepreneurship to an extent seen in few other countries. This opportunistic culture provides the basis for successful growth of commerce even in an otherwise weak environment.
The U.S. bests the other top 10 countries on personal income by 40 percent. It scores 38 percent higher than the rest of the world in its ability to “commercialize innovation through patents.”
On the flip side, the US ranks just 7th in economic competitiveness and below average on promoting international trade and investment. The stimulus bill could offer some jolt to the weak economy, but given access to capital, Americans might prove adept in finding their own path to prosperity.
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No doubt USA is one of the most prosperous and powerful country in the world, BUT sad to say that even the richest country cannot escape from the dilemma of the world financial crisis. The currency of the said country is dollar. Don’t you know that dollar sign has significance for people the all over the world. The dollar sign also has a degree of mystery as to its origins, and there is a lot of speculation. The term for dollar comes from the German term for a unit of silver referred to as a thaler. From there, the speculation continues, and scholars would get an online cash advance to settle it. It is thought to originally be a unit of silver. Theories include the symbols for other units of currency, such as the peso and Spanish pieces of eight. A payday loan or online payday loan still has the same dollar sign we've had for decades.
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The Economic Collapse
So the solution to the mess created by Republicans is to use the Republicans' ideas that collapsed the economy.
Like tax cuts for the rich, and corporations.
The money I have to spend to help support the beyond-luxurious lifestyles of the rich and now infamous financial "gurus" is far more than I spend on taxes. And taxes benefit me, unlike helping totally irresponsible corporates buy yachts, $10,000 bottles of FRENCH wine and private jets some moron who can't even keep his company from committing suicked.
What really harmed America? The Class Warriors on the right who tell us that us avearge Americans make TOO MUCH money and the megarich are too poor!
The same Republicans who told us that we must all take personal responsiblity for our actions and then excluded themselves.
The "small government" party that doubled US debt - most of it borrowed from commies in China and Vietnam, and jihadist countries in the ME like Saudi Arabia.
We sure could use all those trillions Republicans stole over the last 28 years. Republicans say deficits don't matter - but deficits become debt, something they don't seem to understand.
Clinton left Bush a big surplus - and Bush went through it in seconds and started spending spending spening -but not paying for any of it, because, gosh, we can't have the war profiteers having to actually pay a cent for the lousy armor and polluted water they sell to our troops. So they went offshore and don't pay one cent of any taxes: not even the SS and unemployment insurance of their workers. And Big Daddy Gummint said they didn't have to actually BID for those contracts: Cheney would decide who deserved what. Halliburton, for example. And Blackwater: they gave the mercenaries a right to kill children and women. How much for killing Iraqi children did they get? $659/HOUR. How much do our troops get??? Republicans: DON'T support our troops: support the war profiteers!
Then they made sure that the industrial might of America was killed so that CEO's could buy more yachts by employing qausi-slave labor in Commie China: COUNTRY LAST! CHINA FIRST! YAY WALMART.
The REpublicans pretend they care about small businesses while applauding as Walmart killed hundreds of thousands of really small businesses: the kind of small businesses that used to hold communities together: they knew us - we knew them. Now we have the Walton "Family" that has $90 BILLION. Poor poeple, including their employees get the thrill of paying less for commie products, that disintegrate fast, so they have to go buy another one. Not so cheap anymore, eh?
Republicans convinced themselves that if they slashed the taxes of the rich, they promised us that the deficits would be eliminated.
They don't seem to understand the basic business requirement: you have to have suffiicient income to pay for what you buy, and in order to avoid bankruptcy. They have left an mess ,and they say the fix is to do more of what killed the economy.
Keep it up - you party will be almost as popular as Naders!
Thanks for writing
Our national debt was less than 1 trillion dollars on January 20, 1981. Our national debt is now more than 10 trillion dollars because of Democrat members of Congress, Republican members of Congress, and Republican Presidents starting with Reagan. The main responsibility for the debt belongs to members of Congress.
To reduce the national debt, our country needs to increase sales taxes on the wealthy and others, have many sales taxes our country has not had for a while, and may have to have sales taxes our country has never had before. I discuss this on http://www.newgeography.com/users/kenstremsky
The plan discusses increasing sales taxes, decreasing taxation of savings and investments, decreasing the corporate tax rate, and other things to help many individuals and businesses reduce their debts, help save many jobs in the private sector, and may help government spending be more beneficial. The plan is based in part on ideas from The Art of War by Sun Tzu. I discuss why Reagan was one of our worst Presidents.
I discussed why I disliked Bush in 2002 on The Green Papers. The link is on my profile. I discussed the SEC and other topics.
Sincerely,
Ken Stremsky
nice article
I discuss sales tax increases and tax cuts on savings and investments on http://www.newgeography.com/users/kenstremsky
The sales tax increases may help our country reduce our national debt.
We need to be worried about the value of our currency if we want our people to continue to feel prosperous.
Congress should eliminate the Federal Reserve or veto many of its decisions.
Congress may want to back our currency with gold, silver, and other commodities.
People may want to support an Amendment to the United States Constitution that allows state governments to "coin Money"- make gold coins and silver coins.
Sincerely,
Ken Stremsky