Taxing Our Way to Prosperity

The following article was published in the Fall 2011 edition of the Intercollegiate Review from the Intercollegiate Studies Institute. 
 
Taxing Our Way to Prosperity
By Tom Pauken
 

How did the United States go from having the strongest economy in the world to facing the most serious economic crisis since the Great Depression? What happened to an American economy that once was driven primarily by manufacturing companies, agriculture, small business entrepreneurs, and a thriving middle class, but now is dominated by Wall Street investment bankers and financial engineers? A country that once prided herself on her strong manufacturing base producing good-paying jobs for American workers has morphed into an economic system in which American jobs are “outsourced” overseas. Our manufacturing base has been hollowed out, and middle-class Americans are sliding downward economically.

Over the past decade, there has been zero private-sector job growth in the United States. The only growth in jobs has been in government (and in sectors—such as health care—in which government is heavily implicated). Government, of course, does not create jobs—if by jobs we mean employment that contributes to the overall production of an economy—only the private sector does that.

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2 responses to “Taxing Our Way to Prosperity

  1. Mr. Paukin,

    Read with great interest ‘Taxing….’.I would argue that the endless regulation paradigm running recklessly against profit making industries is the primary culpret along with minimum wage diktat has inexorably forced migration of manufacturing to other less regulated countries. These have carved out the basic maufacturing entities in this country. Intense and large scale labor labor force is unlikely salvageable in our current environment. The regulatory environment will be extremely difficult to reduce given the political acceptance of this most destructive process.

    Thanks,
    Jim Korman,
    aka Procrustes

    J

  2. DearSir: Thank you foryour insights on our American Economy and ways to
    renew it. Iplan on studying these ideas and hopefully Our American Nation can adopt the right solution. Sincerely, Don Joseph Boyle

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