The Secretary of the Treasury, Tim Geithner, is infamous for conveniently forgetting to pay tax on $80,000 of income and then getting kid-glove treatment from the IRS when his crime was uncovered. Not only did Geithner avoid even a slap on the wrist, he was confirmed…
Daily Analysis
Kudos to Obama Administration for Fighting Extraterritorial European Tax Scheme
I don’t often have reason to praise the White House. But the Administration occasionally winds up fighting on the right side when dealing with the statists on the other side of the Atlantic Ocean. I lauded the Obama Administration two years ago when the Treasury…
Another Reason I Despise Government
One of the reasons I’m a libertarian is that virtually all of my personal interactions with government are unpleasant. * Governments pull me over and give me tickets for trying to efficiently drive from one location to another. * Governments coerce me into filling out…
Grading Perry’s Flat Tax: Some Missing Homework, but a Solid B+
Governor Rick Perry of Texas has announced a plan, which he outlines in today’s Wall Street Journal, to replace the corrupt and inefficient internal revenue code with a flat tax. Let’s review his proposal, using the principles of good tax policy as a benchmark. 1….
The Vatican Should Try to Save Souls, not Ruin Economies
A couple of months ago, after reading an excellent column in the semi-official newspaper of the Vatican, I joked that we should send Obama to Rome for an economics lesson. I now completely retract that statement. There may be some economically astute people who write…
Republicans vs. the Free Market
Over and over again, I tell people to ignore whether politicians have a D or an R after their names. That’s because Democrats sometimes do the right thing and Republicans often do the wrong thing. My latest example of Republicans doing the wrong thing come from…
The Obligatory “I Told You So, You Dumb SOBs” Post About Greece
Almost two years ago, I wrote that bailing out Greece was misguided because it would dig the debt hole deeper. More recently, I wrote an I-told-you-so post that looked at my four original predictions and patted myself on the back for being accurate (not that it took…
Record Government Spending Seen for 2011
President Obama and Vice President Biden are currently playing the role of traveling snake-oil salesmen, peddling their latest wares in the form of yet another so-called stimulus bill. At the heart of their pitch are claims that would have you believe that up is down,…
Debating against Obama’s So-Called Stimulus, Advocating Pro-Growth Policy
I’m going to be in New York City next week to join with Richard Epstein as we participate in an Intelligence Squared debate against Mark Zandi and Cecilia Rouse. I’m looking forward to this event because Richard Epstein is a rock star for freedom. It also gave me an…
Should Washington Re-Inflate the Housing Bubble?
I have no idea whether George Santayana was a good philosopher, but he certainly was right when he wrote, “Those who do not learn from history are doomed to repeat it.” Consider the fools in the U.S. Senate. They just voted to expand Fannie Mae and Freddie Mac…