Economics’s 101 continued
To the Editor:
The problem we are having with the economy is, 200 years ago almost everyone was busy in agriculture, producing food, fuel and clothes. Over the years, it became easier to work in a factory and buy food, fuel, etc. The people working in the factory produced cars and other things, some of which were exported. The things produced in the factory made everyone’s life better, and the things exported made us richer.
China will in 2013 produce more than all of Europe, including Russia and Turkey. Everyone can produce anything as good as we can.
Now we want to raise taxes. France raised taxes about two months ago. The rich, successful people are leaving France in droves. Worse than the rich leaving in droves are the young Henry Fords, Thomas Edisons and Bill Gateses, who will employ people in the future, are leaving.
We need to ask/demand our elected officials to create an environment to help create jobs and prosperity. We don’t want to go the route of Greece – borrow money, pay high social program costs, and have no way of paying it back. The final chapter has to be written yet. I hope it’s not like Germany in the 1930s and ’40s.