I’m just making up the 1.94 percent number, but the International Herald Tribune reported last year that unfunded liabilities in France are nearly 550 percent of GDP. The news reports don’t include any estimates of what Sarkozy’s reform will mean, but I would be…
Daily Analysis
The Political Class vs the American People
According to a new poll from Rasmussen, almost two-thirds of the American people want smaller government and lower taxes while only one-fourth want bigger government and higher taxes. Not surprisingly, the moochers and looters of the governing elite are wildly out of…
The IRS’s Tax Rate on Google’s Foreign-Source Income Is 2.4 Percentage Points Too High
There’s been considerable attention to the news that the IRS has only managed to grab 2.4 percent of Google’s overseas income. As this Bloomberg article indicates, many statists act as if this is a scandal (including a morally bankrupt quote from a Baruch College…
Has the Tea Party Saved the GOP?
Peggy Noonan makes a compelling case in the Wall Street Journal that the Tea Party has rescued the GOP by allowing Republicans to escape the statist legacy of George W. Bush and forcing them to re-focus on the need to restrain big government. I’m not sure that she’s…
Republicans and Democrats Should Be Especially Concerned about the Threat of Government When Their Party Is in Charge
Gallup just released a poll showing that 46 percent of Americans view the federal government as an immediate threat to the rights and freedoms of ordinary Americans. My first reaction was to wonder why the number was so low. After all, we have a political elite that…
Taxpayers vs Bureaucrats: The $320K-per-Year New Jersey Turnpike Employee
This definitely belongs in the OMG category. Bureaucrats at the New Jersey Turnpike Authority are ripping off taxpayers in a spectacular fashion. Here are some stunning details: Auditors say the New Jersey Turnpike Authority wasted $43 million on unneeded perks and…
More Hypocrisy: Congressional Exemption from Insider Trading Laws
The hypocrisy of Washington elites is nothing new, as we’ve covered here and here, just to give two recent examples. Yet another example of hypocrisy is that of insider trading, which is disallowed for the peasants, but perfectly acceptable for members of Congress and…
Taxpayers vs Bureaucrats, Part XLII: United Kingdom to Get Rid of 500,000 Government Jobs?
I want to believe. No, I’m not talking about the X-Files movie from 2008. I’m referring to the BBC’s report that the U.K. government will cut spending and eliminate 500,000 government positions. Unfortunately, I can’t accept this story at face value. As I’ve noted…
The False Choice Between a VAT and Impossible Spending Cuts
Governor Mitch Daniels of Indiana has triggered a spat among policy wonks with his recent comments expressing sympathy for a value-added tax (VAT). Kevin Williamson of National Review is arguing that a VAT will probably be necessary because there is no hope of restraini…
Why Is It Okay for Rich Democrats to Use Tax Havens, but It’s Not Okay for the Little People?
Senator John Kerry is enriched by tax havens. Former Democratic Senator (and professional slug) John Edwards got to use tax havens. Former President Bill Clinton got to benefit from tax havens. Connecticut’s Attorney General (and Senate candidate), Richard Blumenthal,…