Obamacare was put together by people who don’t understand economics. This is probably the understatement of the year since I could be referring to many features of the bad law. The higher tax burden on saving and investment, making an anti-growth tax system even…
Daily Analysis
Untaxed and Overpaid IMF Bureaucrats Recommend Huge Tax Hikes in America
If there was a special award for chutzpah, the easy winner would be the bureaucrats at the International Monetary Fund. These pampered bureaucrats get lavishly compensated and don’t have to pay tax on their bloated salaries. You would think this would make them a bit…
Make-Believe Debt Limit Hysteria from the Political Establishment
It appears that the government shutdown, which technically is a battle over annual appropriations legislation for so-called discretionary spending, is going to drag on for a while. The Obama Administration has shown zero willingness to negotiate, even though…
Bono Understands the Need for Capitalism, so Now Let’s See if There’s any Hope for Obama
Sometimes you find support for capitalism and small government in some rather unexpected places. I was surprised, for instance, when I found out that Gene Simmons, the lead singer for Kiss, stated that, “Capitalism is the best thing that ever happened to human beings….
It’s Amazingly Simple to Balance the Budget
I’m testifying tomorrow to the Joint Economic Committee about “The Economic Costs of Debt-Ceiling Brinkmanship.” I won’t give away what I’m going to say (though you can probably figure out my views rather easily by reading this, this and this), but I do want to share…
Will Regulators Kill Bitcoin?
Bitcoin, a digital cryptocurrency, is a potentially disruptive technology offering both social and economic gains. While the technology that has revolutionized peer-to-peer payments is growing in popularity, it is nevertheless vulnerable to being stamped out by…
The Mexican Version of Obamanomics Won’t Work any Better than the American Version
Based on the dismal data from the Minneapolis Federal Reserve (as well as our own experiences), we know Obamanomics doesn’t work in the United States. But we also know bigger government doesn’t work in France. And we know it doesn’t work in Japan. We know it doesn’t…
Personal Retirement Accounts Are Great…but only if You Can Stop Future Politicians from Confiscating the Accumulated Wealth
Most Western nations have huge long-run fiscal problems because of unfavorable demographics and misguided entitlement programs. That’s the bad news. The good news is that dozens of nations have fully or partially shifted to mandatory private savings as a pro-growth…
Tax Havens and Tax Competition Are Crucial if We Want to Restrain Predatory Government
I’m very worried about America’s fiscal future. Simply stated, data from several sources (BIS, OECD, and IMF) indicates that we face a future Greek-style fiscal crisis unless policy makers implement genuine entitlement reform. Unfortunately, politicians have little…
Turning New York City into Detroit?
I recently speculated whether Detroit’s fiscal problems should be a warning sign for the crowd in Washington. The answer, of course, is yes, though it’s not a perfect analogy. The federal government is in deep trouble because of unsustainable entitlement programs…