For quite some time, I’ve thought of Herman van Rompuy as the poster child of Europe’s incompetent political elite. Virtually unknown to people in the real world (his sole claim to fame is that a British MEP, in a speech that went viral on YouTube, said he resembled a…
Daily Analysis
Obama’s Golden Rule of Ever-Expanding Dependency
Regular readers know about Mitchell’s Golden Rule, which is the simple – but essential – notion that the burden of government spending shouldn’t grow faster than the private sector. Well, after reading this utterly depressing news about how the number of people riding…
The Simple and Predictable Story of Fiscal Bankruptcy in Cyprus
With all the fiscal troubles in Greece, Spain, Ireland, Portugal, and Italy, there’s not much attention being paid to Cyprus. But the Mediterranean island nation is a good case study illustrating the economic dangers of big government. For all intents and purposes,…
The Laffer Curve Wreaks Havoc in the United Kingdom
Back in 2010, I excoriated the new Prime Minister of the United Kingdom, noting that David Cameron was increasing tax rates and expanding the burden of government spending (including an increase in the capital gains tax!). I also criticized Cameron for leaving in…
Tax Hikes Are Economically Destructive, Politically Poisonous, and Completely Ineffective at Reducing Red Ink
Back in April, I explained that I would accept a tax increase if “the net long-run effect is more freedom, liberty, and prosperity.” I even outlined several specific scenarios where that might occur, including giving the politicians more money in exchange for a flat…
Obamacare’s Corrupt Conception, Sleazy Gestation, and Tawdry Birth
One of my very first blog posts was about the link between big government and big corruption. For the rest of my life, I can now cite the Obamacare travesty as an example. Here’s some of what Tim Carney wrote for the Washington Examiner. Chief Justice John Roberts’…
California’s Fiscal Policy and the Lesson of Humpty Dumpty
I’ve almost exhausted my interest in California’s suicidal fiscal policy. How many times, after all, can you write about politicians over-taxing and over-spending to the point of economic ruin? But everyone has a cross to bear in life, and (if you allow me to mix my…
Food Stamps, Handouts, and the Ever-Expanding Welfare State
In their never-ending efforts to buy votes with other people’s money (see the first cartoon in this post), politicians have been expanding the welfare state and creating more dependency. This is bad for the overall economy because it means a larger burden of…
Yes, the Federal Government Has a Broad Power to Tax, but that’s Different from Having a Green Light to Spend
’m not a lawyer, or an expert on the Constitution, though I sometimes play one on TV. But I can read, and I’ll agree with my friends on the left that the federal government has a broad power to tax. I wish the 16th Amendment had never been ratified, but its language…
The Crazy French Double Down on Obamanomics
Being a libertarian, I’m used to disappointment. So when something actually goes according to plan, I get very happy. On that basis, I should be utterly and deliriously overjoyed about my endorsement of Francois Hollande to be President of France. I wanted him to…