Economic Freedom in the U.S. Fell Last Year Due to Rising Regulatory and Tax Burdens

Hans Bader February 16, 2017

The United States recently slipped to its lowest level yet in world rankings of economic freedom compiled by the Heritage Foundation and The Wall Street Journal. As The Hill notes:

In the latest report, the U.S. ranks 17th out of 180 countries with an economic freedom score of 75.1 out of 100. Last year, the U.S. ranked number 11.

 

Hong Kong, Singapore, and New Zealand topped the list, with respective scores of 89.8, 88.6, and 83.7. Other countries that placed ahead of the U.S. included Canada, Taiwan, and Britain, among others.

 

The Heritage report said countries with scores between 80-100 are considered economically “free,” while countries scores between 70-79.9 are considered “mostly free.”

 

The Index of Economic Freedom cited the “substantial expansion in the size and scope of the U.S. government, increased regulatory, and tax burdens in many sectors,” and “large budget deficits and a high level of public debt.” It also took into account “changes around the globe” in 2016 affecting America’s competitors......To Read More....