I gave a speech in Hungary about two weeks ago and now the government has announced a big step in the direction of better fiscal policy. According to Reuters, “Hungary’s new government plans to introduce a flat personal income tax of 16 percent from 2011,…
Daily Analysis
Europe's Greedy Politicians Resent Switzerland's Pro-Growth Tax Policy
This story from Business Week warmed my heart. Switzerland’s cantons are competing to create better tax policy, and this is attracting companies seeking to escape the kleptocracies elsewhere in Europe. This shows the value of tax competition (imagine how bad…
The (Unintentional?) Use of Humor by Obama's Economic Team
The Secretary of the Treasury is a comedian as well as a tax cheat. At least that’s the only rational interpretation of his recent statements in Europe, where he used the do-as-I-say-not-as-I-do routine while pretending to tell the Europeans to be fiscally…
Great Moments in Government-Run Healthcare
British healthcare is often criticized for long waiting lines and slovenly conditions, but that’s just part of the story. Here’s a frightening story about a women who actually got treated – and died as a result. To be fair, this presumably is a…
Senate Unanimously Rejects Greek Bailout
In an uncharacteristic display of fiscal rectitude, Senators voted 94-0 against the Greek bailout. But don’t get too excited. They only voted to instruct the White house to oppose the bailout in the absence of a plan to pay back the money. Needless to say, the…
Will "Hauser's Law" Protect Us from Revenue-Hungry Politicians?
David Ranson had a good column earlier this week in the Wall Street Journal explaining that federal tax revenues historically have hovered around 19 percent of gross domestic product, regardless whether tax rates are high or low. One reason for this relationship, as…
Too Little and Too Late for Europe, Part II
When even the New York Times is writing articles about the collapse of the European welfare state, you know that the political establishment is finally recognizing the writing on the wall. Recognizing a problem and solving a problem, however, are two different things….
The United States of Greece
Americans should not get too smug about the troubles in Europe because the Bush-Obama policies of wasteful spending are bringing us down the same path. The latest evidence comes from a well-researched article about personal income in USA Today showing that the share…
Too Little and Too Late for Europe, Part I
Governments that tax work and subsidize sloth are committing a form of slow-motion suicide, and the Greek fiscal crisis is the canary in the coal mine of this phenomenon. Interestingly, some European governments are trying to halt the downward slide, though I suspect…
Great Moments in Government-Run Healthcare
British healthcare is often criticized for long waiting lines and slovenly conditions, but that’s just part of the story. Here’s a frightening story about a women who actually got treated – and died as a result. To be fair, this presumably is a tragic exception and…