Center for Freedom and Prosperity

Lessons For America From the European Fiscal Meltdown

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Another fine econ 101 video from the Center for Freedom and Prosperity.   This video exlores the lessons that America can learn from the current European fiscal and debt crisis.

The lessons are very simple:

1.  Higher taxes lead to higher government expenditure and not reduction of government debt.

2.  A value added tax is a recipe for run-away government expenditure.

3.   A welfare state breeds dependency.

4.   Fiscal reform and reduction of government expenditure is impossible once more people are living off the government than are paying taxes to support the government.

5.   Bailouts do not work. →']);" class="more-link">Continue reading

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