All very true, but on the other hand I think Paul Kedrosky had a point when he recently wrote that if furnished with a proper VAT and a well-run national health insurance system (as opposed to Medicair and Medicaid), the U.S.'s fiscal deficit would all but disappear. Not to mention how the Yanks love their government goodies some of which would be unimaginable on this side if the pond, such as income-tax relief on mortgage interest.
True, but then we might as well assume that if the Eurozone had a properly deregulated labor market and economy in general it would grow more and deficits would decrease even further? Seems about as likely to happen...
All very true, but on the other hand I think Paul Kedrosky had a point when he recently wrote that if furnished with a proper VAT and a well-run national health insurance system (as opposed to Medicair and Medicaid), the U.S.'s fiscal deficit would all but disappear. Not to mention how the Yanks love their government goodies some of which would be unimaginable on this side if the pond, such as income-tax relief on mortgage interest.
True, but then we might as well assume that if the Eurozone had a properly deregulated labor market and economy in general it would grow more and deficits would decrease even further? Seems about as likely to happen...
Hey, we like our regulations. Regulation is our no. 1 global export.