by Dan Mitchell | Aug 3, 2022 | Blogs, Economics, Taxation
The capital gains tax is double taxation, and that’s a bad idea (assuming the goal is faster growth and higher wages). Let’s consider how it discourages investment. People earn money, pay tax on that money, and then need to...
by Dan Mitchell | May 23, 2022 | Blogs, Taxation
Trump had some economically illiterate tweets about trade during his presidency, including the infamous one about being “Tariff Man.” I think Joe Biden must be feeling envious that Trump got so much attention, so he has issued a tweet showing that...
by Dan Mitchell | Nov 4, 2021 | Blogs, Capital Gains, States, Taxation
To finance a bigger welfare state and create more dependency, President Biden and his congressional allies have been contemplating all sorts of tax increases. Higher corporate tax ratesHigher capital gains tax ratesHigher personal income tax ratesMore...
by Dan Mitchell | Aug 31, 2021 | Blogs, Capital Gains, Taxation
Yesterday’s column cited new scholarly research about the negative economic impact of Biden’s plans to increase capital gains taxation. In today’s column, let’s start with a refresher on why this tax shouldn’t exist. But if you don’t want...
by Dan Mitchell | Aug 30, 2021 | Blogs, Capital Gains, Economics, Taxation
Public finance theory teaches us that the capital gains tax should not exist. Such a levy exacerbates the bias against saving and investment, which reduces innovation, hinders economic growth, and lowers worker compensation. All...
