"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries. Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy." Sir Winston Leonard Spencer Churchill (1874-1965)
FDA Seeks Regulation of Mobile Medical Apps. This is sure to stifle and slow life and cost saving ideas!
"Schiff claims he would have hired a thousand more people but for regulations.
"I had a huge plan to expand. I wanted to open up a lot of offices. I had some capital to do it. I had investors lined up. My business was doing really well. But unfortunately, because of the regulations in the security industry, I was not able to hire."
So if he wants to hire an analyst, he can't just hire him?
"I had to get permission to publish their research, which I didn't get for years. And so I can't pay analysts if I can't sell their research.
People don't appreciate the number of regulations entrepreneurs face. Schiff pays 10 people just to try to figure out if his company is obeying the rules.
"You can't just act very quickly, because everything has to be done through this maze of compliance. Even my brokers ... find out that maybe 20 percent, 30 percent of their day is involved in compliance-related activity, activity that is inhibiting their productivity. ... All around the country, people are complying with regulations instead of producing, instead of investing and growing the economy. They're trying to survive the regulations."
This is no way to create jobs or wealth. Keynesian pundits and politicians can't understand why businesses sit on cash rather than invest and hire unemployed workers. It's really no mystery. Government is in the way." John Stossel.
"One of the first economists to expose my brain to the benefits of liberty is George Mason's Don Boudreaux.
Tonight on my show (Saturday at 10pm on Fox News) he debates Money Manager Stephen Leeb, who argues that China is buying up the world's resources -- from oil, to copper, silver -- and monopolizing them, leaving none fewer for America. That's a scary thought.
But Boudreaux argues that even if China did that, resources won't run out. Ingenious people looking to make a buck will come up with alternatives.
History backs him up. In 1973, the New York Times warned: "experts [say] that the world will have virtually run out of oil by the year 2000."
Needless to say, that didn't happen. Entrepreneurs found more oil fields and developed new ways of sucking more oil out of things like shale rocks." John Stossel.
Entrepreneurship Helps Make America Great "Unfortunately, bureaucrats are threatening this good part of America. I had to register with the Delaware Secretary of State and the Division of Corporations, get a federal employer identification number, buy commercial liability insurance, register with the Delaware state Department of Finance, etc. I didn't even try to open a business in my hometown, New York City, because the bureaucracy is so ferocious. The fastest-growing cities of the world make it easier. In Hong Kong several years ago, I got a business permit in just one day. It's a reason Hong Kong is rich. Entrepreneurs are encouraged. But at least America is a close second.
Most Progressive Socialists propose free education for all to a Masters Degree, Universal Health Care, Alternative Energy and perpetual Unemployment Insurance. While all of these are indeed desirable ideas, unfortunately the cruel truth is that there is just not enough resources to obtain them. If you were to tax all millionaires and billionaires 100% it would not be enough to pay for the desired goals of the Progressive Socialists. How can a society with 50% paying no income tax possibly be democratic? If half of the people who are not paying their fare share are deciding about the minority that pay fore all the entitlements of that half possible not end up being oppressive to the productive minority." John Stossel.
China's GDP skyrocketed after it implemented private property rights in 1990. This is proof that Socialism does not work.
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