The Road to Prosperity
How to Grow Our Economy and Revive the American Dream
1st Edition
Published on 4. September 2009
Book
Hardback
254 pages
978-0-470-39439-7 (ISBN)
Description
A powerful argument for the principles and policies required to grow the American economy
Written by Patrick Toomey, president of the influential Club for Growth, this book addresses the low-tax, limited government approach needed to revive the American economy. Divided into three comprehensive parts, it skillfully contributes to the dialogue regarding the future of the American economy. Part One explains the principles and beliefs underlying a low-tax/limited government agenda; Part Two describes the legislative and policy changes required to encourage long-term economic growth; and Part Three examines why a pro-growth approach provides the best foundation for solving problems such as Social Security insolvency and generating economic opportunities for all Americans. Straightforward and accessible, The Road to Prosperity also touches upon important issues such as: expansion of free trade, privatizing Social Security, and resisting further government regulation of the economy. Timely in its prescriptions for the U.S. economy and timeless in its articulation of free market principles, this is a book that will have enormous appeal to anyone interested in economic, politics, and the current crisis in our country.
Patrick Toomey (Washington, D.C.) is President of the Club for Growth, a well-known political organization that promotes a pro-growth, low-tax, limited government agenda. Previously, Toomey was a three-term Republican congressman from Pennsylvania. He graduated from Harvard University with a degree in political philosophy.
Written by Patrick Toomey, president of the influential Club for Growth, this book addresses the low-tax, limited government approach needed to revive the American economy. Divided into three comprehensive parts, it skillfully contributes to the dialogue regarding the future of the American economy. Part One explains the principles and beliefs underlying a low-tax/limited government agenda; Part Two describes the legislative and policy changes required to encourage long-term economic growth; and Part Three examines why a pro-growth approach provides the best foundation for solving problems such as Social Security insolvency and generating economic opportunities for all Americans. Straightforward and accessible, The Road to Prosperity also touches upon important issues such as: expansion of free trade, privatizing Social Security, and resisting further government regulation of the economy. Timely in its prescriptions for the U.S. economy and timeless in its articulation of free market principles, this is a book that will have enormous appeal to anyone interested in economic, politics, and the current crisis in our country.
Patrick Toomey (Washington, D.C.) is President of the Club for Growth, a well-known political organization that promotes a pro-growth, low-tax, limited government agenda. Previously, Toomey was a three-term Republican congressman from Pennsylvania. He graduated from Harvard University with a degree in political philosophy.
Reviews / Votes
"This essential perception-that incentive-driven growth rather than government-sponsored redistribution is the key to real prosperity-is at the heart of former Pennsylvania congressman Patrick Toomey's lovely little book The Road to Prosperity: How to Grow Our Economy and Revive the American Dream. It's a capitalist manifesto for everyman: clear, concise, down-to-earth and wonderfully compelling. A book to read and absorb, and to consider giving to clients." (Financial Advisor Magazine)More details
Other editions
Additional editions
E-Book
07/2009
Wiley
€15.99
Available for download
E-Book
07/2009
Wiley
€15.99
Available for download
Persons
PATRICK TOOMEY is a former president of the Club for Growth and three-term congressman from Pennsylvania, winning hard-fought elections in a Democrat-leaning district that hadn't voted for a Republican presidential candidate in over twenty years. Toomey also cofounded and cochaired a start-up bank in Pennsylvania that ranks among the healthiest banks in the nation. In Congress, Toomey distinguished himself as a national advocate for limited government, lower taxes, and personal freedom. His dedication to these beliefs earned him recognition from the Council for Citizens Against Government Waste, Americans for Tax Reform, the National Taxpayers Union, and the U.S. Chamber of Commerce. Toomey graduated from Harvard University with a degree in political science.
Content
Foreword.
Preface.
Acknowledgments.
Chapter 1 Principles of Prosperity.
The First Principle: Property Rights--Ownership is the Foundation of Markets.
The Second Principle: Markets Work--Let Them!
The Third Principle: Taxes and Spending--The Lower the Better.
The Fourth Principle: Stable Money.
Where We Go From Here.
Chapter 2 Lessons from History.
The Federal Reserve's Great Deflation.
Herbert Hoover Intervenes.
Roosevelt's Role in Prolonging the Depression.
The Greatest Story Never Told.
How Did This Happen?
Around the World--The Rise of the Celtic Tiger.
What Can We Learn?
Chapter 3 Tax Policy.
How Much to Tax.
Whom to Tax: The Distribution of the Tax Burden.
How to Tax: Be Simple, Transparent, and Neutral.
The Reform We Need.
Freedom and Prosperity.
Chapter 4 Government Spending.
Government Spending Balloons.
Earmarks and Rancid Pork.
Deficits.
Controlling Spending.
Chapter 5 Free Trade Facilitates Economic Growth.
Comparative Advantage.
The Truth About of Trade Deficits.
The Problem with Protecting Certain Industries.
The Siren Song of "Fair Trade".
Our Not-So-Hollow Economy.
Trade Actually Helps Poor Foreign Workers.
Free Trade Works.
Chapter 6 Transforming Social Security.
Personal Accounts Mean Personal Prosperity.
The Proof is in the Pudding.
The Opposition.
Chapter 7 School Choice.
The Problem: Monopoly Breeds Mediocrity.
The Solution: A Competitive Education Market.
Different Kinds of School Choice.
Milwaukee Example--Design and Success.
Arguments Against School Choice Refuted.
Change We Can Believe In.
Chapter 8 The Crash of 2008.
Monetary Policy.
Greenspan's Defense.
The Legislation and Regulation that Contributed to the Crash.
Mark-to-Market.
Paulson and Bernanke--Contributing to the Crisis They Were Trying to Prevent?
Writing History Matters.
Chapter 9 The 2009 Lurch Left.
Bailouts, Nationalizations, and Asset Purchases.
Mark-to-Market Accounting.
The Bankruptcy Alternative to Bailouts.
Tighten the Federal Belt Instead.
Tax Hikes.
Cut Taxes Instead.
Government-Dictated Industrial Policy Will Fail.
Denying Workers' Freedom.
Slouching Toward Protectionism.
Cap and Trade (or Cap and Tax).
Conclusion.
Epilogue.
Notes.
About the Author.
Index.
Preface.
Acknowledgments.
Chapter 1 Principles of Prosperity.
The First Principle: Property Rights--Ownership is the Foundation of Markets.
The Second Principle: Markets Work--Let Them!
The Third Principle: Taxes and Spending--The Lower the Better.
The Fourth Principle: Stable Money.
Where We Go From Here.
Chapter 2 Lessons from History.
The Federal Reserve's Great Deflation.
Herbert Hoover Intervenes.
Roosevelt's Role in Prolonging the Depression.
The Greatest Story Never Told.
How Did This Happen?
Around the World--The Rise of the Celtic Tiger.
What Can We Learn?
Chapter 3 Tax Policy.
How Much to Tax.
Whom to Tax: The Distribution of the Tax Burden.
How to Tax: Be Simple, Transparent, and Neutral.
The Reform We Need.
Freedom and Prosperity.
Chapter 4 Government Spending.
Government Spending Balloons.
Earmarks and Rancid Pork.
Deficits.
Controlling Spending.
Chapter 5 Free Trade Facilitates Economic Growth.
Comparative Advantage.
The Truth About of Trade Deficits.
The Problem with Protecting Certain Industries.
The Siren Song of "Fair Trade".
Our Not-So-Hollow Economy.
Trade Actually Helps Poor Foreign Workers.
Free Trade Works.
Chapter 6 Transforming Social Security.
Personal Accounts Mean Personal Prosperity.
The Proof is in the Pudding.
The Opposition.
Chapter 7 School Choice.
The Problem: Monopoly Breeds Mediocrity.
The Solution: A Competitive Education Market.
Different Kinds of School Choice.
Milwaukee Example--Design and Success.
Arguments Against School Choice Refuted.
Change We Can Believe In.
Chapter 8 The Crash of 2008.
Monetary Policy.
Greenspan's Defense.
The Legislation and Regulation that Contributed to the Crash.
Mark-to-Market.
Paulson and Bernanke--Contributing to the Crisis They Were Trying to Prevent?
Writing History Matters.
Chapter 9 The 2009 Lurch Left.
Bailouts, Nationalizations, and Asset Purchases.
Mark-to-Market Accounting.
The Bankruptcy Alternative to Bailouts.
Tighten the Federal Belt Instead.
Tax Hikes.
Cut Taxes Instead.
Government-Dictated Industrial Policy Will Fail.
Denying Workers' Freedom.
Slouching Toward Protectionism.
Cap and Trade (or Cap and Tax).
Conclusion.
Epilogue.
Notes.
About the Author.
Index.