In my blog posting of May 23rd "Another Example Of Why Socialism Is Harmful To All Carbon Based Life Forms", I pointed to food and basic goods shortages, high inflation and a pending economic meltdown in Venezuela.

Well, here's a contrasting example of what happens when you apply old fashioned capitalism to an economic problem. In 1986 there was a country in real bad economic shape. Unemployment was running around 17% and the country was nearly bankrupt. Today it is one of the world's economic leaders. GDP has averaged over 6% annually for the last 20 years and unemployment is now 4.4%. No it's not China. It's not India. It's Ireland.

The country is know for low tax rates, especially the 12.5% corporate rate. In Europe, Ireland's per capita GDP is second only to Luxembourg.

The current elections offer an example for the U.S. The two competing parties have vowed to keep in place the policies that have created this success. Wouldn't it be great to hear on the 6 o'clock CNN news that both democratic and republican candidates vow to make the tax cuts, that have driven the U.S. economy to an all time high, permanent; to reduce spending on pork projects; and to unburden corporations from ridiculous regulations.