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Entrepreneurship Helps Make America Great

Written By: John Stossel  |  Posted: Tuesday, July 6th, 2010

For all its problems, America is a great place. And one thing that makes America great is its prosperity. Yes, some people have suffered during the recession - but compared to all the other countries in the history of the world, America is rich. Why? One reason is that America is a good place to do business. Dinesh D'Souza, author of "What's So Great about America, " points out: "In most other societies, the businessman has been looked down upon. He's been seen as a kind of sleazy guy. But then American founders specifically put protection for patents and trademarks in the Constitution. And suddenly, the entrepreneur is taken from the bottom of the heap and brought to the front."

Today, Asian students crush Americans on standardized tests, but it's Americans who invent things like the transistor and the integrated circuit and go on to win disproportionate numbers of Nobel Prizes. Our culture of entrepreneurship turns that science into wealth. TV pitchman Anthony Sullivan is from Britain, but he says his business didn't thrive there. "I found in England if there's 10 reasons you could do something, there's 20 reasons why you couldn't do it, you shouldn't do it, " says Sullivan. "I found in the States that people will give you a shot." One sign of this attitude is that it's relatively easy to start a business here. I opened one in Wilmington, Del. I named it the Stossel Store. It was just a table from which I pitched my "Give Me a Break" book and Fox merchandise. I picked Wilmington because our research showed that Delaware and Nevada make opening a business easier than other states. It still took me a week to get legal permission, but it would have taken much longer in Europe. "I have started businesses in the U.K. and India. It takes at least a month or more just to open doors, " A.J. Khubani, president of TeleBrands, says. Unfortunately, bureaucrats are threatening this good part of America. I had to register with the Delaware Secretary of State and the Division of Corporations, get a federal employer identification number, buy commercial liability insurance, register with the Delaware state Department of Finance, etc.

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