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The liberals a.k.a. socialists here love to wax on about Europe's way of life. Between demographics of aging and the influx of immigrants from Muslim countries, the outlook for Europe is not good. Some facts...
Europeâ€™s social disaster is unfolding while the rest of the world is booming at its fastest rate in three decades. 2004 and 2005 were record years for China and India, which have double-digit growth rates, and for the USA, which fully enjoys the benefits of globalization. The worldâ€™s economy is booming at an average rate of over 4%, but Europeâ€™s growth has stagnated at an inflated 1.5%.
Why is Europe performing so poorly? Europeâ€™s deficient performance is incompatible with its huge potential as the worldâ€™s largest single consumer market. Its slow growth contradicts its unequalled industrial productivity and infrastructure, its outstanding education level and labour ethics, its favourable climate, â€śfair businessâ€ť morality, and not in the least its tremendous potential provided by the opening of the iron curtain.
...if social policies are kept unchanged, tax hikes of as much as 5 to 15 percentage points will be necessary over the next couple of decades merely to avoid the rate of indebtedness increasing any further. Unfortunately, this will just kill growth completely. Europeâ€™s present social model is unsustainable because it is based on robbery of future generations. Keeping the system in place would jeopardize the next generationâ€™s future with an unbearable and uncompressible tax burden, and would seriously add to the risk of a total collapse of Europe. Moreover these expansionary social policies have not worked so far. In spite of the largest debt buildup in history Europeâ€™s growth has remained weak anyway. Europeâ€™s social model is built largely on credit to be paid back by its own children.
Europeâ€™s well-intentioned model is not working because it does not pay to work after the taxman has taken his share. Europe is not innovating because it does not pay to innovate after the huge costs of complying with all the prescriptions, limitations and restrictions in all Europe's overabundant licences and autorisations. Demoralization is the real cause of Europeâ€™s stagnation. Europeâ€™s workforce is tired of being incessantly hindered in its task of producing wealth. Demoralization is the reasen why ever more engineers, scientists and entrepreneurs flee Europeâ€™s tax misery. Paradoxically, the Old Europe of the West must now learn from the New Europe of the East, where after years of disastrous socialism, low and simple flat taxes are being introduced, luring investors from all over the world.
Confiscatory tax rates beloved by Hillarycare advocates would cripple the US in its quest to maintain strong economic growth through investment and innovation.
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The author is certainly very opinionated, however this doesn't look like a study to me, only a personal conjecture.
It IS clearly an opinion piece, not a dissertation. I'd say that the numbers on demographics and consequent rising costs of entitlements for an aging population supported by relatively fewer young workers make the outcome obvious for those not numerically challenged or those who block their ears and go "Nah, nah, nah" when hearing facts that contradict the panacea of state socialism.
Meanwhile it is also a fact that Europe's economic growth rate continues to lag that of the US or Asian economies.
Finally, look at former Soviet Colony Estonier which introduced a simple flat tax rate and watched their economy boom.