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…
Daily Analysis
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…
California’s Train to Nowhere
I’ve explained before that “high-speed rail” is a boondoggle, and I’ve also posted a thorough presentation on the topic from the folks at Reason about this issue. But some politicians can’t resist throwing good money after bad on these money-losing schemes. The latest…
Julia: The Most Disappointing Daughter in the World
I wrote about Julia the Moocher earlier this month, linking the Obama campaign’s make-believe leech with a real-world Greek woman who thought the government should take care of her. I also shared an amusing parody of Julia by Iowahawk (the creator of the famous Pelosi…
Rand Paul’s “Monstrous” and “Nasty” Budget Got 16 More Votes than Obama’s Budget
A few months ago, I wrote some very nice things about a budget plan put together by Senator Rand Paul of Kentucky, noting that: Senator Paul and his colleagues are highlighting the fact that the plan generates a balanced budget in just five years. That’s a good…
Reformers vs the GOP Establishment: The Battle to Eliminate the Income Tax
Putting Republicans in charge is never a guarantee of good public policy. It was during the Bush years, for instance, that the nation was saddled with a prescription drug entitlement. The GOPers in the White House and on Capitol Hill also recklessly increased the…
Revolt of the Italian Tax Slaves
I wrote last year about a tax protest in Ireland, and I wrote earlier this year about a tax revolt in Greece. But Irish and Greek taxpayers are wimps compared to their Italian compatriots. When Italians decide to have a tax revolt, they don’t kid around. Here are some…