I’m a big believer that real-world examples can teach us about the benefits of good fiscal policy (think Hong Kong, Estonia, Canada, and the U.S. under Reagan and Clinton) and the costs of bad fiscal policy (France, Cyprus, Greece, and the U.S. under Bush and Obama). Today, let’s look at another example of bad fiscal policy. And we’re going to pick on […]
read more...I believe that protecting the environment is both a good thing and a legitimate function of government. But I’m rational. So while I want limits on pollution, such policies should be determined by cost-benefit analysis. Banning automobiles doubtlessly would reduce pollution, for instance, but the economic cost would be catastrophic. On the other hand, it’s good to […]
read more...I’ve shared some interested rankings on tax policy, including a map from the Tax Foundation showing which states have the earliest and latest Tax Freedom Days. There’s also a depressing table showing that the United States “earns” a lowly 94th place in a ranking of business-friendly tax system. Heck, there’s even a map showing the states with the highest wine taxes, […]
read more...I want to challenge supporters of intervention and big government. Here are two simple questions. I’ll be happy if I can get a semi-reasonable answer to either of them. 1. Can you name a nation that became rich with statist policies? Before you say Sweden, or even France, note that I asked you to name a nation […]
read more...People pay every single penny of tax that politicians impose on corporations. The investors that own companies obviously pay (more than one time!) when governments tax profits. The workers employed by companies obviously pay, both directly and indirectly, because of corporate income tax. And consumers also bear a burden thanks to business taxes that lead to […]
read more...We know the welfare state is good news for people inside government. Lots of bureaucrats are required, after all, to oversee a plethora of redistribution programs. Walter Williams refers to these paper pushers as poverty pimps, and there’s even a ranking showing which states have the greatest number of these folks who profit by creating dependency. But […]
read more...I’m a big advocate of the Laffer Curve. Simply stated, it’s absurdly inaccurate to think that taxpayers and the economy are insensitive to changes in tax policy. Yet bureaucracies such as the Joint Committee on Taxation basically assume that the economy will be unaffected and that tax revenues will jump dramatically if tax rates are boosted by, say, […]
read more...If you ask me about the most wasteful department in the federal government, I’ll state that there are lots of good choices, but if forced to identify the best candidate for elimination, I’ll go with the Department of Housing and Urban Development. If you ask me about the entitlement program most in need of reform, I’m […]
read more...People sometimes think I’m strange for being so focused on the economic harm that results from third-party payer. But bear with me and we’ll see why it’s a very important issue. If you’re not already familiar with the term, third-party payer exists when someone other than the consumer is paying for something. And it’s a […]
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