The Heritage Foundation has released its 2019 report on economic freedom around the world. In another win for PDJT’s administration the US rose 6 spots in the standings to #12.
What is economic freedom? As the Heritage Foundation notes:
When Bush 43 took office in 2001, the US was in 4thplace. When he left office, the US had dropped to 6thplace. This was despite the US score improving slightly during his time in office. Two countries, Ireland and Australia, passed the US during this time primarily due to significant reductions in oppressive tax rates and of government interference in the marketplace.
There is little doubt that for much of its existence America has been #1 in economic freedom. America truly has been, as President Reagan said, “…a shining city upon a hill whose beacon light guides freedom-loving people everywhere.”
America’s drop from 1stplace had been due largely to the increasing size of government, a growing regulatory burden, expanding licensing requirements and other impediments to the right to work. However, at the end of the Bush 43 administration, America was still seen as a generally free country.
And then, as Yoda would say, “the Shroud of the Dark Side fell.” The scandal-plagued Obama administration vastly increased government regulation, imposed higher tax burdens and mandated greater health care spending due to Obamacare. The rule of law was weakened as government corruption mushroomed. The Democratic administration seemed to feel that rules and laws were for others. Fiscal responsibility disappeared as the national debt was doubled. All of these are negatives for economic freedom. America’s overall score plummeted 5 points and America was 18th on the list after the Obama administration departed. This unprecedented drop of 12 positions in the rankings was due directly to the policies of the Obama administration. America was no longer “a shining city on the hill.”
The 2019 report covers the second half of 2017 and the first half of 2018. So the improvement to 12th in economic freedom comes about less than a year and half into the Trump administration. It is the highest it has been since 2011. It comes about because of major tax reforms and a significant improvement in government integrity.
Government integrity score has risen almost 6 points in a year and half. This is interesting in its own right since the MSM have been overwhelming negative in their coverage of PDJT. Democratic administrations have been on the low end of this scale over the last two decades regardless of such coverage.
Business freedom has surged during this period. This is due in no small part to the relaxing of the oppressive regulatory apparatus of the Obama administration. More than 2200 regulatory items have been deleted, withdrawn or delayed. This has sent a signal to businesses that their efforts at improving their businesses will not be derailed by capricious bureaucratic whims.
The biggest help in improving economic freedom has been the tax reform package passed under the guidance of the Trump administration. The index surged almost 10 points in this area. Businesses being able to keep more of their profits has resulted in higher wages and a robust business expansion that has been MIA for a long time.
PDJT has been working to return America to that “shining city on the hill” image. The Democrats and some RINO’s have consistently been against this. It appears that improving the economic freedom and well-being of all Americans is something that is anathema to them.
Isn’t time for them to acknowledge the good that PDJT has been bringing to all Americans? Wishful thinking, I know.