I’m beginning to think that people from some nations are smarter and more rational than others. That may explain, for instance, why voters in Estonia support fiscal restraintwhile voters in France foolishly think the gravy train can continue forever. But I’m not…
Daily Analysis
Obamacare Could Cause Two Million additional Adults to Leave Labor Force and Become Trapped in Government Dependency
What’s the worst economic development during Obama’s reign? Some would say it’s the higher tax burden. Some would say it’s the wasteful faux stimulus. Others would say it’s the fiscal nightmare of Obamacare. And others would say it’s the loss of millions of…
From No Government to All Government: How Do You Score on the Circle Test?
It’s not as sophisticated as Professor Bryan Caplan’s Purity Quiz and it doesn’t have the simple elegance of the World’s Smallest Political Quiz, but at least you don’t need to answer any questions to see where you stand in this Venn Diagram that my intern shared with…
No More Stealing by Government? A Long-Overdue Attack on Asset Forfeiture
Since I’m a public finance economist, I realize I’m supposed to focus on big-picture issues such as tax reform and entitlement reform. And I do beat those issues to death, so I obviously care about controlling the size and power of government. But I like to think I’m…
Detroit Still Not Serious About Getting Its House in Order
Detroit’s bankruptcy was created by decades of fiscal irresponsibility. Politicians ruined the economy with high taxes to finance their lavish spending and depleted the tax base. Given this track record, you would think the city would take a more responsible…
Like Father, Like Son: Thanks in Part to a Disastrous Tax-Hike Deal, the First President Bush Was a Statist
The establishment fervently believes that more money should come to Washington so that politicians have greater ability to buy votes. That’s why statists from both parties are so viscerally hostile to Grover Norquist’s no-tax-hike pledge. They view it as an obstacle…
Repeal the Gas Tax…and Get Rid of the Department of Transportation
More than three years ago, I wrote that the Department of Transportation should be dismantled for the simple reason that we’ll get better roads at lower cost with the federalist approach of returning responsibility to state and local governments. I echoed those…
The Slow-Motion Train Wreck of Entitlement Programs
The Census Bureau just released a report on America’s aging population. The big takeaway is that our population will be getting much older between now and 2050. And since I’m a baby boomer, I very much like the fact that we’re expected to live longer. But as a public…
Laughing at Another Spectacular Obamacare Failure
As you can imagine, there’s a lot to choose from in the contest for the most spectacular waste of tax dollars. But the politicians in Oregon must really want the prize, because they managed to flush several hundred million dollars down a rat hole by putting together a…
Taiwan Is the Success Story, not China
Which nation is richer, Belarus or Luxembourg? If you look at total economic output, you might be tempted to say Belarus. The GDP of Belarus, after all, is almost $72 billion while Luxembourg’s GDP is less than $60 billion. But that would be a preposterous answer…