Economist Morici: IRS Like the 'Spanish Inquisition'

The damaging policies enacted by the Obama administration are destroying Americans' faith in their country, according to economist Peter Morici, a professor at The University of Maryland.

"The human cost of this man’s policy is tremendous. One out of every six men between the ages of 25 and 54 doesn't have a job. That's kind of a small-scale Greece," Morici told "The Steve Malzberg Show" on Newsmax TV.

"That's very sad that it's come to America, but America is losing its brand. American companies are moving their corporations to Ireland because, not just because of tax rates, [but] how brutally and unfairly they are enforced.

"Americans abroad are disavowing their citizenship because it's becoming too difficult to be an American working abroad. You can't get a bank account, nobody wants to touch you."

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