Thursday, March 15, 2012

Why America's Capitalism Is Better Than China's

For his part, Schiff wanted to banish Uncle Sam from the economy altogether. He bemoaned U.S. government spending, high taxes, and corporate regulations. ?We give capitalism a bad name,? he half-joked in his opening statement. In the same vein, he took multiple shots at Social Security, questioned the wisdom of employment rights for the disabled, and actually provoked hisses of disbelief by characterizing America?s welfare economy as fascist. Schiff waxed poetic about the 19th century laissez-faire United States, which he held up as a model of ideal monetary policies. ?Americans were truly free in the sense that they got to keep the production, the fruits of their labor,? he said, citing that era?s lack of income taxes.

Source: http://feeds.slate.com/click.phdo?i=f0db1f32825d71fac4bedb1cf78abbab

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