by Dan Mitchell | Mar 15, 2015 | Blogs, Economics, Minimum Wage
A few days ago, we used supply-and-demand curves to illustrate how taxes reduce economic output.Supply-and-demand curves also can be used to examine the impact of minimum wage laws on the labor market. Workers understandably will be willing to supply more labor at...
by Dan Mitchell | Mar 14, 2015 | Big Government, Blogs
Summarizing the federal government is not easy. There’s nearly $4 trillion of spending to disentangle. There’s a 75,000-page tax code to decipher. And there’s a regulatory morass that defies understanding. So when people ask me questions about the cost of the federal...
by Dan Mitchell | Mar 13, 2015 | Blogs, Economics, Taxation
While I sometimes make moral arguments against the current tax system (because it is corrupt, because it doesn’t treat people equally, because it provides unearned wealth for insiders, etc), my main arguments are based on economics. High tax rates on workers and...
by Dan Mitchell | Mar 12, 2015 | Blogs, Economics
In 1729, Jonathan Swift authored a satirical essay with the unwieldy title of A Modest Proposal for Preventing the Children of Poor People From Being a Burthen to Their Parents or Country, and for Making Them Beneficial to the Publick. He suggested that the destitute...
by Dan Mitchell | Mar 11, 2015 | Big Government, Blogs, Energy, Government Waste
I’ve pointed out that Washington is a cesspool of legal corruption. But if you don’t believe me (and you have a strong stomach), feel free to peruse these posts, all of which highlight odious examples of government sleaze. But occasionally elected officials cross the...
