This week GM won permission for a government-backed company to purchase GM brands including Buick, Cadillac and Chevrolet, in order to pay off millions of dollars of debt—elevating the phrase “big government” to a new level. As consumers are confronted by an ailing economy and a brittle banking system, how much longer will it be before the capitalist system becomes just a faded memory?
The following is an excerpt from Senator Jim DeMint’s new release Saving Freedom: We Can Stop America’s Slide into Socialism:
“America’s golden goose is our capitalist economic system. It has made us wealthy beyond anything the world has ever known. Yet our excesses and debt are leading us to demand more and more golden eggs. Our taxes, regulations, and legal liabilities on businesses are now the most onerous in the world. We haven’t yet killed the goose, but we have plucked her clean, and the socialist axe is at her neck…
We have seen the federal government’s ‘communal sector’ replace local decision-making in public schools, hamstring private sector health-care services, federalize local banking, socialize farming, nationalize road construction. We now have federal intrusion into almost every business sector. Government must provide a consistent and predictable framework of laws and regulations, but arbitrary intrusion and subjective interpretations of regulations destroys the operation of the free market. Capitalism and socialism will not work together.
America cannot have it both ways. We must decide if we want a free market economy or socialism. Mixing the central planning principles of socialism with the decentralized free-market principles of capitalism has not worked, and it is destroying American’s competitive advantage in the world. Using business to collect taxes, provide health care, maintain pension programs, promote affirmative action, support the unemployed, absorb the cost of emissions by cars and utilities, and pay for frivolous lawsuits is killing the goose that lays the golden eggs.
All of these functions are important and sometimes necessary, but Americans must understand that putting these costs on the backs of businesses does not save money; it obscures costs and creates inefficiencies that reduce competitiveness. Businesses don’t pay for anything; they pass along the cost of taxes, health care, pensions, and all other costs of doing business to their employees and customers. These expenses increase the cost of American workers but reduce their take-home pay. They also increase the cost of products, reduce competitiveness, and hurt profitability.”
In 314 pages, Senator DeMint argues against big government and calls for Americans to take back the power rightfully bestowed upon them by our founding fathers. He also calls for Americans to defend their personal freedom and provides action steps citizens can take to stop this slide into socialism.
Connect with Senator Jim DeMint online:
Personal Site: JimDeMint.com
Senate Site: DeMint.Senate.gov