Europe is at a crossroads of slow economic growth from a post war period of regulation and high taxes and the creation of a new growing underclass of immigrants that are not being absorbed. Avoiding the ensuing financial, social and political costs is unimaginable. England embraced Brexit for several reasons; most often stated was the loss of sovereignty and control of their destiny. They may simply be the first to leave a sinking ship.
Read MoreThe tax cut and the realignment of our tax policy for international business, including the repatriation of overseas earning, is quickly resulting in domestic investment and capital spending. There is also a willingness to support a weaker dollar and impose tariffs on competitive imports, which could stimulate more production short term. This is a lot of stimulus at once at a time when unemployment is at a record low. This could impede the productivity growth that should be a priority. We need productive immigrants even more.
Read MoreAmerica’s success is a combination of constitutional liberty, heterogeneous culture that has a healthy disrespect for authority, solid protection of property rights, a respect for the common man and a classless society, and willingness to risk and fail. There are certainly hundreds of other attributes, but the combination is uniquely American. Government’s function is to foster and protect the elements of our productive society.
Read MoreThe sign on the Statue of Liberty does not ask for your Nobel Prize winners, your valedictorians and your Mensa members. The state of Georgia was a penal colony. So was Australia. In Israel the Ethiopians, airlifted in Operation Solomon, became stellar Israelis. What made the United States, Australia and Israel the successful nations they became was not an immigration meritocracy, but the development of a system where those from the worst conditions in the world could rise so far above it that they created the greatest nations on earth.
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