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Welcome to Call to Decision
Subject: Cry for Me, Argentina
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"Those
who ignore history are doomed to repeat
it."
Cry
for
Me,
Argentina
In
the
early
20th
century, Argentina
was
one of
the
richest
Countries
in the
world.
While Great
Britain
's
maritime
power
And
its
far-flung
empire
had
propelled
it to
a
dominant
position
Among
the
world's
industrialized
nations,
only
the
United
States
challenged Argentina
for
the
position
of the
world's
second-most
powerful
economy.
It
was
blessed
with
abundant
agriculture,
vast
swaths
of
Rich
farmland
laced
with
navigable
rivers
and an
accessible
Port
system.
Its
level
of
industrialization
was
higher
than
Many
European
countries:
railroads,
automobiles
and
Telephones
were
commonplace.
In
1916,
a new
president
was
elected.
H ipólito
Irigoyen
Had
formed
a
party
called The
Radicals under
the
banner
Of
"fundamental
change"
with
an
appeal
to the
middle
class.
Among
Irigoyen's
changes:
mandatory
pension
insurance,
mandatory
Health
insurance,
and
support
for
low-income
housing
construction
To
stimulate
the
economy.
Put
simply,
the
state
assumed
economic
Control
of a
vast
swath
of the
country's
operations
and
began
Assessing
new
payroll
taxes
to
fund
its
efforts.
With
an
increasing
flow
of
funds
into
these
entitlement
Programs,
the
government's
payouts
soon
became
overly
Generous.
Before
long
its
outlays
surpassed
the
value
of the
Taxpayers''s
contributions.
Put
simply,
it
quickly
became
Under-funded,
much
like
the
United
States
'
Social
Security
And
Medicare
programs.
 T
He
death
knell
for
the
Argentine
economy,
however,
came
with
The
election
of
Juan
Perón.
Perón
had a
fascist
and
corporatist
Upbringing;
he and
his
charismatic
wife
aimed
their
populist
Rhetoric
at the
nation's
rich.
This
targeted
group
"swiftly
expanded
to
cover
most
of the
Propertied
middle
classes,
who
became
an
enemy
to be
Defeated
and
humiliated."
Under
Perón,
the
size
of
government
bureaucracies
exploded
Through
massive
programs
of
social
spending
and by
Encouraging
the
growth
of
labor
unions.
High
taxes
and
economic
mismanagement
took
their
inevitable
Toll
even
after
Perón
had
been
driven
from
office.
But
his
populist
Rhetoric
and
"contempt
for
economic
realities"
lived
on.
Argentina's
federal
government
continued
to
spend
far
beyond
Its
means.
Characterized
by
"industrial
protectionism,
redistribution
of
Income
based
on
increased
wages,
and
growing
state
Intervention
in the
economy..."
The
Argentinean
government's
practice
of
printing
money
to
Pay
off
its
public
debts
had
crushed
the
economy.
Inflation
Hit 3000%,
reminiscent
of the
Weimar
Republic
.
Food
riots
were
rampant;
stores
were
looted;
the
country
Descended
into
chaos.
And
by
1994,
Argentina
's
public
pensions
-- the
equivalent
Of
Social
Security
-- had
imploded.
The
payroll
tax
had
increased
From
5% to
26%,
but it
wasn't
enough.
In
addition, Argentina
had
Implemented
a
value-added
tax
(VAT),
new
income
taxes,
a
personal
Tax
on
wealth,
and
additional
revenues
based
upon
the
sale
of
public
Enterprises.
These
crushed
the
private
sector,
further
damaging
The
economy.
A
government-controlled
"privatization"
effort
to
rescue
Seniors''s
pensions
was
attempted.
But,
by
2001,
those
funds
Had
also
been
raided
by the
government,
the
monies
replaced
By
Argentina
's
defaulted
government
bonds.
By
2002,
"...government
fiscal
irresponsibility...
Induced
a
National
economic
crisis
as
severe
as America
's
Great
Depression."
We've
seen
this
movie
before.
The
Democrats'
populist
plans
can't
possibly
work,
because
Government
bankrupts
everything
it
touches.
History
teaches
Us
that
ObamaCare
and
unfunded
entitlement
programs
will
Be
utter,
complete
disasters.
Today's
Democrats
are
guilty
of
More
than
stupidity;
they
are
enslaving
future
generations
to
Poverty
and
misery.
And
they
will
be
long
gone
when
it all
implodes.
They
will
be as
cold
and
dead
as
Juan
Perón
when
the
piper
must
Ultimately
be
paid.
References:
Linked
by: Dan
Riehl.
Thanks!
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