Remember when Paul Krugman warned that there was a plot against France? He asserted that critics wanted to undermine the great success of France’s social model. I agreed with Krugman, at least in the limited sense that there is a plot against France. But I explained…
Daily Analysis
Australia’s Worrisome Fiscal Drift
I’m in Australia for Consilium, an annual conference which is hosted by the Centre for Independent Studies. I spoke on fiscal policy and pontificated on the need for nations to restrain government spending. That’s an important message (at least in my humble option),…
Lower Tax Rates > Targeted Tax Credits
Some folks on the right in Washington, generally known as reformicons (short for reform conservatives), want the Republican Party to de-emphasize marginal tax rate reductions and instead focus on providing tax relief to parents. There are many leaders in this movement…
Another Victory for the Laffer Curve, this Time over the Lifestyle Puritans
What do cigarettes and capital gains have in common? Well, they both start with the same letter, so maybe the Cookie Monster could incorporate them into his favorite song, but I’m thinking about something else. Specifically, both cigarettes and capital gains tell us…
Some Praise for a Minor Part of Obamacare
I like to think that very few people despise Obamacare more than me. I don’t like Obamacare because it’s a fiscal boondoggle. I don’t like Obamacare because it’s bad healthcare policy. I don’t like Obamacare because it generated an embarrassingly bad decision by the…
Encouraging Polling Data…Plus Disturbing Policy Developments from Russia and the United Kingdom
The polling data I shared last month about confused young people was a bit of a downer, so let’s look at three different polls that are a bit more encouraging. First, I’m glad to see that many Americans feel that government and politicians are their leading cause of…
World Bank Research Shows Tax Complexity Facilitates Corruption
I don’t like international bureaucracies because they generally push for policies that expand the burden of government and undermine economic growth. But I recognize that there are some good people who work at these institutions and I’m always willing to acknowledge…
Obama, Corporate Inversions, and Grotesque Hypocrisy
Last month, I put together a list of six jaw-dropping examples of left-wing hypocrisy, one of which featured Treasury Secretary Jacob Lew. He made the list for having the chutzpah to criticize corporate inversions on the basis of supposed economic patriotism, even…
A Fair Critique of the Fair Tax
I’m a long-time proponent of the flat tax for three simple reasons. 1. It replaces the discriminatory “progressive” tax with a single tax rate at the lowest possible level, thus reducing the tax penalty on productive behavior. 2. It gets rid of all forms of double…
The IMF’s Continuous – and Destructive – Love Affair with Higher Taxes
Since I’m an economist, I generally support competition. But it’s time to admit that competition isn’t always a good idea. Particularly when international bureaucracies compete to see which one can promote the most-destructive pro-tax policies. For instance, I noted…