I’m a sucker for a good flowchart because they either can help to simplify analysis or they can show how something is very complex. Some of my favorites include: This explanation of double taxation. This depiction of the no-win Greek economic crisis. Portrayals of…
Daily Analysis
The Laffer Curve Bites Ireland in the Butt
Cigarette butt, to be more specific. All over the world, governments impose draconian taxes on tobacco, and then they wind up surprised that projected revenues don’t materialize. We’ve seen this in Bulgaria and Romania, and we’ve seen this Laffer Curve effect in…
If Obama Wants More Tax Revenue, He Should Lower the Corporate Tax Rate
Regular readers know that I’m a big advocate of the Laffer Curve, which is the common-sense notion that higher tax rates will cause people to change their behavior in ways that reduce taxable income. But that doesn’t mean “all tax cuts pay for themselves.” Yes, that…
More Entrepreneurs Say “Au Revoir” to the Administration Fiscale, Escape France’s Confiscatory Tax Regime
As a general rule, it’s not right to take pleasure at the misfortune of others. But I think we’re allowed an exception to that Schadenfreude rule when the “others” are greedy politicians pursuing spiteful policies. We want the political elite to suffer misfortune…
The IMF, Higher Taxes, and Mitchell’s Law
Here are three common-sense principles. Higher taxes are misguided. They undermine prosperity and finance bigger government. Bailouts also are misguided. They facilitate corruption and encourage moral hazard. And international bureaucracies are misguided. They promote…
OECD Moves to Undo Taxpayer Gains
Thanks to tax competition and beginning with the cuts under Reagan and Thatcher, global tax rates have declined over the last several decades. In order to remain economically competitive, politicians have had to refrain from the excessive fleecing of taxpayers and…
Has Greedy IRS Overreach Doomed FATCA, or Just the Economy?
I recently noted that the Foreign Account Tax Compliance Act (FATCA) would threaten America’s global economic dominance because, among other reasons, “Investment will instead go to places like China, where the government is unlikely to sign away their…
Obama Suffers a Painful Loss in the First Big Fiscal Battle of His Second Term
The statist agenda of ever-growing government requires more money going to Washington, which is why I think that proponents of limited government should do everything they can to block tax increases. This is the “starve the beast” theory, and I’ve previously explained…
OECD Outlines New Assault on Tax Competition
The latest attempt at ending tax competition was kicked off with an OECD report called “Addressing Base Erosion and Profit Shifting.” The paper is deeply troubling for advocates of tax competition and pro-growth policies.
Virginia’s RINO Infestation Results in Higher Taxes and More Spending
The number one goal for fiscal policy is to reduce the burden of government spending. The simple way to achieve this goal is to adhere to Mitchell’s Golden Rule and and make sure the private sector grows faster than the public sector. But when politicians fail to…