by Dan Mitchell | Apr 19, 2019 | Big Government, Blogs, Monetary Policy
What’s the biggest problem with the Federal Reserve? The obvious answer is that the Central Bank is susceptible to Keynesian monetary policy, which results in a harmful boom-bust cycle. For instance, the Fed’s artificially low interest rates last decade played a key...
by Dan Mitchell | Apr 18, 2019 | Big Government, Blogs, Economics, Government Spending
There are two things everyone should understand about the federal budget. First, America faces a grim future because Washington spending will consume an ever-larger share of economic output because of demographic changes and poorly designed entitlement programs....
by Dan Mitchell | Apr 17, 2019 | Blogs, Economics, Socialism
Every Thanksgiving, I share the story of how the Pilgrims nearly starved to death because of their experiment with collectivized agriculture. Once the settlers shifted to a system based on private ownership, however, their problems disappeared. The obvious moral of...
by Dan Mitchell | Apr 16, 2019 | Big Government, Blogs, Economics, Socialism, Taxation
Bernie Sanders demonizes the rich and argues that millionaires need to pay higher tax rates in order to finance a bigger burden of government. Which presumably means that he should surrender more of his income, since he is part of the gilded class. The New York...
by Dan Mitchell | Apr 15, 2019 | Big Government, Blogs, Economics, Taxation
There are some fortunate people (in the Cayman Islands, Bermuda, Monaco, Vanuatu, Antigua and Barbuda, and a few other places) who don’t have to pay income taxes. The United States used to be in that lucky club. The income tax did not become a permanent blight upon...
