Here’s a remarkable video from one of my favorite economics groups, the Center for Freedom and Prosperity Foundation. It’s seven minutes well worth your time.
To summarize, the five key lessons are:
1. Higher taxes mean bigger government not lower deficits.
2. Do not allow politicians to impose a VAT.
3. Big government slows growth but also cripples the human spirit.
4. Nations reach a dangerous tipping point. (In other words, when the number of people mooching off the government exceeds the number of people actually producing, it’s too late for the country to survive. See the cartoon below.)
5. Bailouts don’t work.
This is a great cartoon. A really really great cartoon.