Actually, the title of this post should probably read, “The Good, Good, Good, Bad, and the Ugly.” That’s because Herman Cain’s 9-9-9 tax plan has low tax rates, it eliminates double taxation, and it wipes out loopholes, and those are three very big and very good…
Daily Analysis
A Simple Fix to Turn Herman Cain’s Good Tax Plan into a Great Tax Plan
I’m very enthusiastic – but also a little worried – about Herman Cain’s tax plan. So when I got the opportunity to write a short column for the New York Times, I explained that his proposal was very good tax policy, in large part because it is based on the same…
More Problems with Cain’s 9-9-9 Plan
I like the overall approach of Herman Cain’s 9-9-9 tax plan. As I recently wrote, it focuses on lower tax rates, elimination of double taxation, and repeal of corrupt and inefficient loopholes. But I included a very important caveat. The intermediate stage of his…
New Video from Congressman Paul Ryan Explains Two Key Principles of Tax Reform
Here’s a very good new video from the Chairman of the House Budget Committee, in which he explains why lower tax rates and fewer loopholes are the keys to a simple, fair, and competitive tax system. Very well done. Given my video on the flat tax, as well as my video…
Let’s Send Obama to the Vatican for an Economics Lesson
I’m normally disappointed when religious figures comment on economics, particularly since they often turn the individual call to charity into a blank check for government-coerced redistribution. This runs contrary to individual choice, free will, and morality. So I’m…
Obama Supports VAT Sympathizer for Top Job at Council of Economic Advisers
The White House has announced that it is nominating Alan Krueger, a professor at Princeton, to be the new Chairman of the Council of Economic Advisers. In a Freudian copy-editing slip, the Fox News story (at least as of 8:44 a.m.) says “Krueger’s job will be to…
You Should Support a Value-Added Tax…if You Want Bigger Government and More Debt
I testified before the House Ways & Means Committee earlier today. As always, my trip inside the belly of the beast was an interesting adventure. The tax-writing committee was holding a hearing on the value-added tax. I was on a panel with five other witnesses,…
The Not-so-Secret Left-Wing Agenda to Increase the Burden of Government – and How to Stop It
The main political goal of the left is to seduce Republicans into supporting higher taxes. Bluntly stated, all of their fiscal policy goals require more tax revenue coming to Washington. The most important factor (from their perspective) is that they can’t make…
Is Mitt Romney Trying to Become the Richard Nixon of the 21st Century?
I can’t say I’m surprised, but I’m nonetheless still nauseated to read that Mitt Romney has decided to endorse ethanol subsidies. Here’s a blurb from Fox in DC. “I support the subsidy of ethanol,” Romney told an Iowa voter. “I believe ethanol is an important part of…
Do Budget Deficits Threaten American Competitiveness? Dan Mitchell vs. the Establishment
I recently took part in a symposium on “The Budget Deficit and U.S. Competitiveness.” Put together by the Council on Foreign Relations, five of us were asked to concisely explain our thoughts on the issue. Here’s some of what I wrote: Excessive government spending can…