One Way to Create Jobs and Boost Economic Growth

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In Heritage Work

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Despite trillions of dollars in fiscal and monetary stimulus aimed at boosting employment and economic growth, America’s weak labor market persists.

The numbers are grim: 10.5 million Americans are unemployed, and labor force participation is near 35-year lows. Meanwhile, the Obama administration has overseen 157 major new regulations, which have cost Americans $73 billion annually.

Rather than throw more money and more government at the problem, House conservatives have proposed the JOBS Act, which Heritage Foundation expert Rachel Greszler says would “boost economic growth and employment by freeing up the labor market, reducing unnecessary and harmful regulations, and unleashing federal lands for productive use.”

She continues: Continue Reading »

Another Big-Government, Big-Spending Budget from President Obama

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In Heritage Work

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Not only is President Obama’s proposed budget for 2015 a month late, but it’s also unrealistic, Heritage Foundation experts report. It’s more of the same tax-and-spend liberalism:

  • Spending would go from $3.5 trillion in 2013 to nearly $6 trillion in 2024.
  • Debt borrowed in credit markets (public debt) would grow from $12 trillion in 2013 to $19 trillion in 2024.
  • The national debt, including debt owed to government agencies, would grow from $17.3 trillion today to $25 trillion in 2024.
  • The President’s budget includes about $1 trillion in new spending, partly offset by other spending cuts, and about $1.2 trillion in tax increases.

Here’s more from the Heritage analysis: Continue Reading »

Why Tax Day Is a Somber Reminder that Our Economic Freedom Is Slipping Away

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In Heritage Work

Tax day is less than a week away. To many Americans, this means surrendering a portion of their paycheck to a government that does not spend it wisely.

But that’s not the only problem with high taxes: they’re increasingly eroding our freedom.

According to The Heritage Foundation’s 2014 Index of Economic Freedom the United States is the only country in the world whose economic freedom has declined for the past seven years. Much of the blame can be placed on big government and the high taxes that fund it.

“There is a real risk that the economic sclerosis we are currently suffering could turn into a full-blown permanent economic health crisis,” Heritage expert Anthony Kim warns.

Lawmakers should look to policies like Heritage’s Saving the American Dream plan, which would reform the tax code by simplifying and reducing taxes.

“As Americans look to their future more than ever, 2014 should be the year of action to reverse the startling decline of America’s economic freedom and revitalize its entrepreneurial pulse,” Kim concludes.

Do you think our complicated and burdensome tax system strangles our economy and our freedom?

Heritage Experts Cross the Pond to Discuss Conservative Principles

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In Heritage Impact

Ted Bromund

Two Heritage Foundation experts have been invited to speak this weekend at the Freedom Association’s inaugural Freedom Festival in Bournemouth, UK.

Heritage’s Ted Bromund and Bryan Riley will explain the importance of free markets and free enterprise. Bromund is a scholar in Heritage’s Margaret Thatcher Center for Freedom, while Riley serves as the Jay Van Andel Senior Policy Analyst in Trade Policy.

“Heritage is glad to support the friends of freedom abroad as it does at home,” Bromund said. The Freedom Association works to promote a free society in Britain.

“The Heritage Foundation is considered to be one of the world’s leading conservative think tanks,” Freedom Association director Rory Broomfield said. “To have them participating in the inaugural Freedom Festival is extremely exciting.”

Learn more about the Freedom Festival here.

Pro-Business Policies Aren’t the Same as Pro-Freedom Policies

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In Heritage Work

Heritage’s Genevieve Wood explains that being pro-business is not the same thing as favoring free enterprise:

Whether through outright lobbying for corporate welfare programs or backing down on onerous laws such as Obamacare, business lobbying groups, for all their talk about free markets and free enterprise and economic freedom, are too often ultimately not in the game for the American worker or individual entrepreneur on Main Street, but for the big guys on Wall Street.

Big business can afford all the lawyers, accountants, record-keepers, and lobbyists that are needed in an increasingly regulated and mandated business environment. The average worker and small business owner cannot. Many corporate giants don’t want a level playing field. Instead, they want to be the only players on the field. The Chamber and others will likely disagree, but their actions in Washington speak louder than words.

Do you think government policy should support business? Or should it support free enterprise? Tell us in the comments.

Why Detroit Should Be More Like Chattanooga

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In Heritage Work

With news from Washington getting bleaker every day, it’s invigorating to learn about good news coming from the states.

Heritage Foundation chief economist Stephen Moore visited Chattanooga, TN a few weeks ago. His goal: to warn the fast-growing city not to follow in Detroit’s footsteps and allow unions a free hand.

And last week, workers at a Volkswagen plant there rejected a UAW unionization drive. Moore explains why: Continue Reading »

The 2014 Index of Economic Freedom Hong Kong Launch Was a Success

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In Heritage Impact

Dr. Feulner and Terry Miller launch Heritage's 2014 Index of Economic Freedom in Hong Kong

Heritage Founder Ed Feulner, left, joins Heritage’s Terry Miller to launch Heritage’s 2014 Index of Economic Freedom in Hong Kong.

Hong Kong is once again the world’s freest economy, according to Heritage’s 2014 Index of Economic Freedom.

It has very low rates of corruption, a simple and efficient tax system, competitive regulations, and open markets, all of which combine to make it an economy to aspire to.

So it’s appropriate that Heritage launched the 2014 Index, our 20th anniversary edition, in Hong Kong last month.

Hong Kong is the most dynamic financial and economic hub in Asia, a bastion of economic freedom compared to its political masters in China.

Perhaps reflecting the Hongkongese pride in their achievement, the media turned out in large numbers to cover the event. All told, more than 250 articles from around the globe reported the Index’s launch in just one week.

Watch a video of the launch below

Do you think Hong Kong can be a model of economic freedom for America?

WSJ’s Stephen Moore Returns to Heritage as Chief Economist

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In Other Work of Note

Stephen Moore (Photo: Willis Bretz)

Stephen Moore, a member of the Wall Street Journal’s editorial board and founder of the Club for Growth, is returning to The Heritage Foundation as chief economist.

Moore, who first worked at Heritage in the 1980s, returned because he believes in our ideas and because he wants to have a real impact on policy debates, he told The Foundry: Continue Reading »

America’s Economic Freedom Declines for Seventh Straight Year

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In Heritage Work

2014 Index of Economic FreedomEconomic freedom in the United States continues to decline, according to the new edition of the Index of Economic Freedom.

The U.S. fell from the top ten freest countries after its score declined for seven consecutive years in the Index, which is produced jointly by The Heritage Foundation and the Wall Street Journal.

Here’s why: Continue Reading »

Rand Paul to Help Launch Heritage’s 2014 Index of Economic Freedom

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In Heritage Impact

010814IEFNext Tuesday, Sen. Rand Paul (R-KY) will join The Heritage Foundation for the release of our 20th annual Index of Economic Freedom.

Published in coordination with The Wall Street Journal, this year’s Index shows that the United States continued to lose ground to its competitors in the global race to advance economic freedom and prosperity. The U.S. score has declined almost 6 points since 2007, placing the U.S. among those countries considered to be only “mostly free.”

The online edition of the Index will be updated Tuesday.

RSVP today to attend this event, or you can watch the event live online here.

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