Bono recently made waves for defending capitalism and its role in alleviating poverty. Rock stars aren’t supposed to express appreciation for the same free markets that have made them wealthy. But not only has he witnessed first hand how markets work to bring…
Daily Analysis
End the Federal Subsidy for Big State Governments
The relationship between federal and state governments – the division of power between the two levels being known as federalism – is an integral part of the American constitutional system. Federalism uses separate and competing spheres of sovereignty to…
Time to Retire the “Hypocrisy in Government” Award?
If I had to identify a “least-favorite” international bureaucracy, it almost certainly would be the Paris-based Organization for Economic Cooperation and Development. The OECD doesn’t waste as much money as the United Nations, it might not cause as much macroeconomic…
A Rare Sign of Fiscal Sanity in France
We have an amazing man-bites-dog story today. Let’s begin with some background information. A member of the European Commission recently warned that: “Tax increases imposed by the Socialist-led government in France have reached a “fatal level”…[and] that a series of…
The Mexican Version of Obamanomics Won’t Work any Better than the American Version
Based on the dismal data from the Minneapolis Federal Reserve (as well as our own experiences), we know Obamanomics doesn’t work in the United States. But we also know bigger government doesn’t work in France. And we know it doesn’t work in Japan. We know it doesn’t…
Must-Read Article about Germany’s Green-Energy Disaster
I’ve written before that Obama’s Solyndra-style handouts have been a grotesque waste of tax dollars. I’ve argued that they destroy jobs rather than create jobs. I’ve gone on TV to explain why government intervention in energy creates a cesspool of cronyism. I’ve even…
Tax Havens and Tax Competition Are Crucial if We Want to Restrain Predatory Government
I’m very worried about America’s fiscal future. Simply stated, data from several sources (BIS, OECD, and IMF) indicates that we face a future Greek-style fiscal crisis unless policy makers implement genuine entitlement reform. Unfortunately, politicians have little…
Turning New York City into Detroit?
I recently speculated whether Detroit’s fiscal problems should be a warning sign for the crowd in Washington. The answer, of course, is yes, though it’s not a perfect analogy. The federal government is in deep trouble because of unsustainable entitlement programs…
Even European Commission Bureaucrats Realize that Taxes Can Be Too High!
I’m not a big fan of the European Commission. For those not familiar with this entity, it’s sort of the European version of the executive-branch bureaucracy we have in Washington. And like their counterparts in Washington, the Brussels-based bureaucracy enjoys a very…
Why Tax Migration and Federalism Mean Doom for Left-Wing States such as New York, California, and Illinois
Maybe this means I’m not a nice person (notwithstanding my high score for tenderness in a recent test), but I can’t help but be happy when I read bad news about fiscal policy in high-tax welfare states. And because I’m a huge fan of tax competition, I get even happier…