The fiscal nightmare in Europe should be all the proof that’s needed about the dangers of wasteful spending and punitive tax rates. Unfortunately, if his proposals for bigger government and class-warfare tax policy are any indication, President Obama still seems to…
Daily Analysis
In a Battle Between the IMF and Greece, I Want Both Sides to Lose
“A pox on both your houses.”
Based on the Reform Agenda of German Free Market Advocates, Europe Is Doomed
Guido Westerwelle is supposed to be the German version of a libertarian. Currently serving as Foreign Minister, he was the chairman of the supposedly pro-market Free Democratic Party for 10 years and Wikipedia says he was known as a “proponent of an unlimited free…
On the Right of Economic Emigration, France Has Better Policy than America
I’ve mocked France on several occasions, and I thought Sarkozy was so bad that I figured (in the long run) the election of Hollande was a step in the right direction. But in certain ways, France isn’t as bad as the United States. The New York Times has a big story…
New Study from U.K. Think Tank Shows How Big Government Undermines Prosperity
It seems I was put on the planet to educate people about the negative economic impact of excessive government. Though I must be doing a bad job because the burden of the public sector keeps rising. But hope springs eternal. To help make the case, I’ve cited research…
Mirror, Mirror, on the Wall, Which President Is the Biggest Spender of All?
A financial columnist named Rex Nutting recently triggered a firestorm of controversy by claiming that Barack Obama is not a big spender. Here’s the chart he prepared, which certainly seems to indicate that Obama is a fiscal conservative. Not only that, it shows that…
In the Lake Wobegon Fantasy World, all Investments Make Money
I sometimes wonder whether journalists have the slightest idea of how capitalism works. In recent weeks, we’ve seen breathless reporting on the $2 billion loss at JP Morgan Chase, and now there’s a big kerfuffle about the falling value of Facebook stock. In response…
Should International Bureaucracies Get Taxing Powers or Direct Funding?
Over the years, I’ve strenuously objected to schemes that would enable international bureaucracies to levy taxes. That’s why I’ve criticized “direct funding” proposals, most of which seem to emanate from the United Nations. A scheme to let the United Nations tax…
A Rare Bit of Good News from Europe
It seems that there’s nothing but bad news coming from Europe. Whether we’re talking about fake austerity in the United Kingdom, confiscatory tax schemes in France, or bailouts in Greece, the continent seems to be a case study of failed statism. But that’s not…
Another Magnificent Moment in the World of Government Stimulus
Most of my work on government stimulus focuses on economic theory and evidence. But every so often it’s a good idea to remind ourselves of the ridiculous ways that government wastes money. Here are some details from a boondoggle in West Virginia. Nobody told Hurricane…