How A Country Creates Prosperity

[ScreamingEagle]

Ran across this interesting post....agree or not.....?

Singapore has grown its economy by 9% p.a. the past 44 years. Per capita
income is $50,000, the fourth wealthiest in the world, from $600 per
capita 44 years ago, below that of Guatemala. The unemployment rate is
3%. The government runs a budget surplus and it has zero national debt.
How did they do this, seeing they have no natural resources? They kept
the size of government to 12% of GDP. The maximum tax rate is 20%. This
is how a country creates prosperity. Government spending, no matter how virtuous, sucks growth out of the economy.

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