The Wall Street Journal’s deputy editor Daniel Henninger comments on President Biden’s visit with the Group of Seven leaders in Europe:

Public Welfare has never been America’s reason for being, notwithstanding our substantial spending on social support programs. Despite the entitlement creations of FDR’s New Deal and LBJ’s Great Society, the U.S., unlike Europe, has remained a nation driven and led by capitalist initiative.

Europe became famous for its perpetual-motion tax machine, which suppressed the continent’s entrepreneurial instincts. Besides income taxes, Europe relies heavily on the collection of notoriously high value-added taxes (one reason luxury-goods-buying Europeans tour the U.S..)

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