by Dan Mitchell | Jun 15, 2018 | Blogs, Economics, Taxation
One of the core principles of economics is that prices are determined by supply and demand. That includes the price of labor – i.e., the wages received by workers. Another core principle is that taxes create distortions by reducing demand and supply. Which is why it’s...
by Dan Mitchell | Jun 14, 2018 | Blogs, Economics
At the risk of understatement, I’ve been very critical of President Trump’s trade policy. I pointed out that he was just as bad as Bernie Sanders before the election. And I didn’t change my tune once he got to the White House. I’ve written several columns bemoaning...
by Dan Mitchell | Jun 13, 2018 | Big Government, Blogs, Government Spending, States
A balanced budget requirement is neither necessary nor sufficient for good fiscal policy. If you want proof for that assertion, check out states such as Illinois, California, and New Jersey. They all have provisions to limit red ink, yet there is more spending (and...
by Dan Mitchell | Jun 12, 2018 | Blogs, Economics
Back in 2015, I wrote about the scandal involving former House Speaker Dennis Hastert and said we got the right result (legal trouble for Hastert) for the wrong reason (government spying on financial transactions). Something similar happened over the weekend with the...
by Dan Mitchell | Jun 10, 2018 | Blogs, Economics, Energy, Regulations
During the Obama years, I criticized the President for various green-energy scamsthat squandered money and produced scandals such as Solyndra. And I also noted that many Republicans were happy to support corrupt subsidies to inefficient sources of energy so long as...
