The Free Market Mojo site asked me a number of interesting questions about public policy. I’m not sure all of my answers were interesting, but here are some snippets that capture my curmudgeonly outlook. I think it’s important to divide the topic into two issues, the…
Daily Analysis
Should the FDA Get More Power after Salmonella Egg Scare?
Steve Chapman of the Chicago Tribune makes several excellent points in his column on the recent salmonella scare, commenting on the absurd tendency to reward government bureaucracies that screw up. But more important, he explains that there are very strong incentives…
Higher Tax Rates on the Rich Will Backfire
I know I’ve beaten this drum several times before, but the Wall Street Journal today has a very good explanation of why class-warfare tax policy will backfire. The Journal’s editorial focuses on what happened after the 2003 tax rate reductions. And below the excerpt,…
Time to Shut Down the Congressional Budget Office?
One of the many disappointing things about Republicans is that they fail to correct problems when they get power. After the 1994 “Gingrich Revolution,” the GOP had complete control of Capitol Hill. This meant complete authority over the Congressional Budget Office…
I Support the Democratic President’s Tax Policy
Unfortunately, I’m not talking about President Obama, though the current occupant of the White House could learn a lot from a previous Democratic President.
Obama Should Listen to John Stossel if He Wants to Get Reelected
One of the main factors determining incumbent election success is economic performance. When disposable income is rising and people feel good about the future, it is difficult for an incumbent to lose. So why, then, is Obama pursuing policies that are undermining…
New York Times Seeks Higher Taxes on the “Rich” as Prelude to Higher Taxes on the Middle Class
In a very predictable editorial this morning, the New York Times pontificated in favor of higher taxes. Compared to Paul Krugman’s rant earlier in the week, which featured the laughable assertion that letting people keep more of the money they earn is akin to sending…
Why Is Keynesian Economics Like a Freddy Krueger Movie?
Working in Washington is a frustrating experience for many reasons, but my personal nightmare is that bad ideas refuse to die. Keynesian economics is a perfect example. It doesn’t matter that Keynesian deficit spending didn’t work for Hoover and Roosevelt. It doesn’t…
Great Moments in Government Stupidity and Incompetence
For those who favor truth in labeling, the housing meltdown and related financial crisis and economic downturn should be brightly stamped with the phrase, “Made in Washington.” Here are two good pieces of evidence. First, this paper from the American Enterprise…
Congressional Budget Office Says We Can Maximize Long-Run Economic Output with 100 Percent Tax Rates
I hope the title of this post is an exaggeration, but it’s certainly a logical conclusion based on what is written in the Congressional Budget Office’s updated Economic and Budget Outlook. The Capitol Hill bureaucracy basically has a deficit-über-alles view of fiscal…