As CF&P has consistently warned, the Foreign Account Tax Compliance Act passed last year is driving foreign investment out of the US, which means less capital investment for the economy and thus fewer jobs for Americans. A group of Taiwanese banks fed up with the burdensome requirements of the law are reducing their US holdings, […]

Gregory H. Friedman, Inspector General for the Department of Energy, testified before the House Oversight and Government Reform Committee  this morning (Hat-tip: Adam Peshek at the Reason Foundation). Not only was the stimulus based upon bad Keynesian economics, but even if we accept the faulty economic assumptions behind calls for taking money out of the […]

President Obama and Vice President Biden are currently playing the role of traveling snake-oil salesmen, peddling their latest wares in the form of yet another so-called stimulus bill. At the heart of their pitch are claims that would have you believe that up is down, black is white, and increased government spending is “austerity”. In […]

Accusing a political opponent of being anti-science has become a standard tactic of both parties in recent years. These accusations are usually dishonest, as what the accuser typically means is that the accused is not properly weighing the costs and benefits of addressing a particular issue to their liking. Or they accuse them of disagreeing […]

Disaster Keynesianism is the moniker I’ve given to the belief that destruction from natural disaster promotes prosperity. It is the logical extension of standard Keynesianism, which holds that any government spending is a boost to growth, and the various voodoo “multipliers” they use to justify their faith. With Hurricane Irene now behind us, it’s no […]

I recently co-authored with Dan Mitchell an article in the Swiss magazine Schweizer Monat explaining the many problems with the Foreign Account Tax Compliance Act (FATCA), and the schizophrenic nature of US tax policy in general. The key points: The rationale behind FATCA is simple in its destructiveness. Even though the United States has a […]

The big news is the deal reached to extend the debt ceiling. That politicians reached a deal amongst themselves to extend the nation’s credit so they can borrow and spend more money should not come as a surprise, nor should the fact that the deal, being spun as a so-called win for the Tea Party, […]

The federal government fires so few of it’s workers that bureaucrats at a number of agencies are more likely to die in office than get a pink slip: Death — rather than poor performance, misconduct or layoffs — is the primary threat to job security at the Environmental Protection Agency, the Small Business Administration, the […]

New York Times columnist Mark Bittman is having a jolly good time contemplating ways to control other people. “It’s fun — inspiring, even — to think about implementing a program like this,” he declares. And what kind of program is he talking about? One which directs people away from their own preferences and toward making […]