Even though I favor radical reductions in the burden of government, I’ve made the point that good fiscal policy merely requires that government spending grow slower than the private sector – what I call Mitchell’s Golden Rule. And if lawmakers simply cap the growth of…
Daily Analysis
Miracles Do Happen: Someone in Brussels Accurately Analyzes Europe’s Fiscal Crisis!
With the exception of a few top-notch thinkers such as Pierre Bessard and Allister Heath, there are very few people in Europe who can intelligently analyze public policy, particularly with regard to fiscal issues. I don’t know if Fredrik Erixon of the Brussels-based…
Notwithstanding the “Grand Bargain” Siren Song, there’s No Practical Argument for Tax Hikes
Many people think that my opposition to tax increases is ideological, but they’re wrong. If someone told me that I magically had the power to flick a switch and give the country a flat tax, but that simple and fair tax system would only be possible if the rate was set…
President Obama Accuses Bill Clinton of “Thinly Veiled Social Darwinism”
Actually, Bill Clinton must be something even worse than a social Darwinist. That’s because the title of this post is wrong. Obama said that Paul Ryan’s plan (which allows spending to grow by an average of 3.1 percent per year over the next decade) is a form of…
A Case Study of How Government Handouts Undermine Human Decency and Social Capital
Why is big government bad for an economy? The easy answer is that big government usually means high tax rates, and this penalizes work, saving, investment, and entrepreneurship. And perhaps some of the spending is financed by borrowing, and this diverts money from…
Revolt of the Irish Tax Slaves
I wrote last year about a backlash from long-suffering Greek taxpayers. These people – the ones pulling the wagon rather than riding in the wagon – are being raped and pillaged by a political class that is trying to protect the greedy interest groups that benefit from…
Should America Copy Europe, as Obama Believes?
Last year, I shared a very amusing Michael Ramirez cartoon showing Obama as the European lemming. Now, Mark Helprin takes a much more serious look at the same issue in the Wall Street Journal, commenting on the wisdom (or lack thereof) of Obama’s interest in the…
New Budget from Republican Study Committee Reduces Burden of Government to Where It Was When Bill Clinton Left Office
A couple of weeks ago, I offered some guarded praise for Paul Ryan’s budget, pointing out that it satisfies the most important requirement of fiscal policy by restraining spending – to an average of 3.1 percent per year over the next 10 years – so that government…
Congressman Ryan’s Budget Restrains Spending Growth, Allows Private Sector to Expand Faster than Burden of Government
The Chairman of the House Budget Committee has produced a new budget plan which contrasts very favorably with the tax-heavy, big-spending proposal submitted by the President last month. Perhaps most important, Congressman Ryan’s plan restrains spending growth,…
A Test for the GOP: Shutting Down the Spigot of Corporate Welfare at the Export-Import Bank
Republicans are telling voters that they’ve learned the hard lessons from the 2006 and 2008 elections and that they are back on the side of taxpayers. I’m not convinced, which is why I’ve outlined some key tests that will demonstrate whether the GOP genuinely supports…