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A Few Ways to Kill Economic Growth
Posted By Guinevere Nell On October 24, 2008 @ 4:09 pm In Economics | Comments Disabled
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:
If Obama wins, the economy will face a huge onslaught of regulation. In addition to whatever bailouts, subsidies and regulations on business pass in the name of escaping the financial crisis, Obama will try to pass these pro-labor and anti-poverty programs. But, he should not be allowed to introduce stagflation and European style unemployment in the name of the workers and the poor.
Article printed from The Foundry: Conservative Policy News Blog from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2008/10/24/a-few-ways-to-kill-economic-growth/
URLs in this post:
 greatly shift the burden to the rich: http://www.taxfoundation.org/publications/show/23319.html
 tax code is already highly progressive: http://www.american.com/archive/2008/october-10-08/america-has-a-highly-progressive-tax-system
 Employee Free Choice Act: http://www.heritage.org/research/Labor/bg2027.cfm
 overwhelming evidence: http://www.house.gov/jec/cost-gov/regs/minimum/50years.htm
 Frederic Bastiat pointed out: http://www.fee.org/publications/the-freeman/article.asp?aid=3227
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