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martes, 5 de marzo de 2013

American Myths - A factual analysis reveals a modern-day America that is much closer to a European socialist-style economy than to a capitalist frontier.

Myths of American ‘Cowboy Capitalism’



A mantra heard from Western European socialists and American progressives is that a political economy of frontier-style, “cowboy capitalism” runs amok across the fruited plains of the United States. 


Based on this ideological view of the U.S. business environment, one would think that a pro-market, libertarian utopia existed in America, unfettered by the visible hand of government. 

The reality, however, is quite different. 

When one evaluates the data on: 

1) federal business regulation, 
2) federal and state government subsidies, 
3) corporate taxation, and 
4) the level of “economic freedom” that exists in the United States, 

the palette paints an economic landscape with much greater government interference in business than the myth of “cowboy capitalism” would suggest. 

A factual analysis of these four areas reveals a modern-day America that is much closer to a European socialist-style economy – like Germany, Denmark, or Sweden – than to a capitalist frontier. 

And by some measures of government intervention, the United States is actually much more “European” than any country in Europe today.....

  • State and local governments offer up to $80.4 billion in business subsidies each year.
  • Administrative rules that have an expected economic impact of at least $100 million annually totaled 106 during the first three years of the Obama administration.
  • The United States has the distinction of burdening its private businesses with the highest corporate income tax rate in the developed world.
  • By some measures of government intervention, the United States is actually much more ‘European’ than any country in Europe today.
  • A wide variety of federal grants, loan guarantees, tax accounting allowances, credits, exemptions, deductions, depreciation, and other beneficial tax incentives exist for energy and eco-friendly businesses.
  • In its 77th volume, the Federal Register contained 77,249 pages – an increase of 2,848 percent.
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Read more: www.american.com

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