The Washington metropolitan area has become America’s wealthiest region because trillions of dollars are taken every year from the productive sector of the economy and then divvied up by the politicians, bureaucrats, lobbyists and interest groups that benefit from…
Daily Analysis
Welfare Fraud Is another Reason to Replace the IRS with a Flat Tax
One of my missions in life is fundamental tax reform. I would like to replace the corrupt internal revenue code with a simple and fair flat tax. Though what I really want is a tax system that minimizes the damage of extracting money from the productive sector of the…
The French Death Spiral
There’s a tendency in public life to exaggerate the positive or negative implications of any particular policy. This is why I try to be careful not to overstate the potential benefits of reforms I like, such as the flat tax. Yes, we would get better growth and there…
Untaxed and Overpaid IMF Bureaucrats Recommend Huge Tax Hikes in America
If there was a special award for chutzpah, the easy winner would be the bureaucrats at the International Monetary Fund. These pampered bureaucrats get lavishly compensated and don’t have to pay tax on their bloated salaries. You would think this would make them a bit…
Wise Words on Fiscal Sovereignty and Corporate Taxation (sort of) from Bill Clinton
I’ve always had a soft spot in my heart for Bill Clinton. In part, that’s because economic freedom increased and the burden of government spending was reduced during his time in office. Partisans can argue whether Clinton actually deserves the credit for these good…
If You Want Jobs and Growth, Keep in Mind that Obamanomics also Doesn’t Work on the State Level
The Tax Foundation in Washington does some great work on fiscal issues, but I also admire their use of maps when they want to show how various states perform on key indicators. They’re best known for “Tax Freedom Day,” which measures how long people have to work each…
Cheered on by the OECD, Japan Announces Higher VAT Rate to Enable Bigger Government
If you have any long-term Japanese investments, sell them soon. In part, that’s because the Japanese Prime Minister announced another Keynesian spending binge earlier this year – even though several so-called stimulus plans in Japan have flopped over the past two…
Is Today – the Anniversary of the Income Tax – the Worst Day in American History?
There have been some unfortunate and dark days in American history, but what was the worst day? Some obvious choices include December 7, when the Japanese bombed Pearl Harbor, and September 11, when the terrorists launched their despicable attack. Another option…
FATCA’s Self-Inflicted Wounds
The destruction caused by the Foreign Account Tax Compliance Act (FATCA) has been well covered by CF&P and others. Among other things, the law is scaring foreign investment out of the economy, turning US citizens abroad into toxic assets, and redirecting…
Bono Defends Tax Competition
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…