I’ve explained on many occasions that Franklin Roosevelt’s New Deal was bad news for the economy. And the same can be said of Herbert Hoover’s policies, since he also expanded the burden of federal spending, raised tax rates, and increased government intervention. So…
Daily Analysis
Debunking Obama’s Flawed Assertions on Tax Deductions and Corporate Welfare
In a violation of the 8th Amendment’s prohibition against cruel and unusual punishment, my brutal overseers at the Cato Institute required me to watch Wednesday’s debate (you can see what Cato scholars said by clicking here). But I will admit that it was good to…
The Laffer Curve Strikes Again: Revenues Falling in Spite of (or Perhaps Because of) Spain’s Punitive Corporate Tax Rate
I’ve shared evidence from around the world (England, Italy, the United States, and France) and from various states (Illinois, Oregon, Florida,Maryland, and New York) to argue that it is foolish to ignore the Laffer Curve. Not that it makes any difference. I’m slowly…
John Stossel Exposes the Fraud of Government Job Training Programs
There have been lots of studies showing that there’s no benefit to job training programs. People who sign up with these government schemes are not more likely to either get jobs or to earn more money. Heck, even the New York Times was forced to acknowledge that these…
France’s Fiscal Suicide
I try to be self aware, so I realize that I have the fiscal version of Tourette’s. Regardless of the question that is asked, I’m tempted to blurt out that the answer is to reduce the burden of government spending. But sometimes that’s exactly the right prescription,…
It’s Wrong for Federal Tax Deductions to Encourage Bad Fiscal Policy by State and Local Governments
I have a handful of simple rules for good tax policy. Keep government small, since it’s impossible to have a reasonable tax system with a bloated welfare state. Keep tax rates low to minimize penalties against income, production, and wealth creation. Since capital…
Another Push for Global Taxation from the United Nations
I spoke at the United Nations back in May, explaining that more government was the wrong way to help the global economy. But I guess I’m not very persuasive. The bureaucrats have just released a new report entitled, “In Search of New Development Finance.” As you can…
Obama’s Phony Economic Patriotism
I despise protectionism. Mostly because it is bad economic policy, but also because politicians often use protectionism as a way of diverting attention from their own failures. So when I appeared on Neil Cavuto’s show to comment on President Obama’s criticism of…
The Wall Street Journal’s Primer on Capital Gains Taxation
One of the principles of good tax policy and fundamental tax reform is that there should be no double taxation of income that is saved and invested. Such a policy promotes current consumption at the expense of future consumption, which is simply an econo-geek way of…
Just as “Fair Trade” Means Protectionism for the Benefit of Special Interests, “Fair Tax Competition” Means Tax Harmonization for the Benefit of Politicians
Very few people are willing to admit that they favor protectionism. After all, who wants to embrace a policy associated with the Great Depression? But people sometimes say “I want free trade so long as it’s fair trade.” In most cases, they’re simply protectionists who…