Responding to widespread criticism of his AWOL status on the budget fight, President Obama today unveiled a fiscal plan. It already is being criticized for its class warfare approach to tax policy, but the most disturbing feature may be a provision that punishes the American people with higher taxes if politicians overspend. Called a “debt […]
read more...A new study from the Adam Smith Institute in the United Kingdom provides overwhelming evidence that class-warfare tax policy is grossly misguided and self-destructive. The authors examine the likely impact of the 10-percentage point increase in the top income tax rate, which was imposed as an election-year stunt by former Gordon Brown and then kept […]
read more...I posted yesterday about the horrible unfairness of life (i.e., I’m not rich). Interestingly, there are a number of rich left-wingers that feel guilty about having a lot of money. In a burst of genius, I came up with an idea that will kill two birds with one stone. They should give their money to […]
read more...I looked yesterday at the spending side of Obama’s budget and found some good news and bad news. The good news was the absence of any big new initiative to expand the burden of government. That’s a welcome relief since the past couple of years have featured budget busting proposals such as the so-called stimulus […]
read more...The Laffer Curve is one of my favorite issues (see here, here, here, here, here, etc). But it is a very frustrating topic. Half my time is spent trying to convince left-leaning people that the Laffer Curve exists. I use common-sense explanations. I cite historical examples. I even use information from left-of-center institutions in hopes […]
read more...The Oregon Ducks will compete for the national championship early next month, so they’ve had a good season. Unfortunately, Oregon’s government isn’t doing nearly so well. Politicians approved a big tax hike on those bad, evil rich people in 2009, and Oregon’s spite-filled voters approved that measure earlier this year. So how’s is Oregon’s class-warfare […]
read more...In my fiscal policy speeches, I sometimes try to get a laugh out of audiences by including a Powerpoint slide with this image. Leading up to this slide, I talk about the Armey/Forbes flat tax and explain that it would eliminate the corrupt internal revenue code and replace it with a simple 10-line postcard. But […]
read more...Much to my surprise, Senate Republicans held firm earlier today and blocked President Obama’s soak-the-rich proposal to raise tax rates next year on investors, entrepreneurs, and small business owners. I fully expected that GOPers would fold on this issue several months ago because Democrats were using the class-warfare argument that Republicans were holding the middle class […]
read more...I’ve always had a soft spot for Switzerland. The nation’s decentralized structure shows the value of federalism, both as a means of limiting the size of government and as a way of promoting tranquility in a nation with several languages, religions, and ethnic groups. I also admire Switzerland’s valiant attempt to preserve financial privacy in […]
read more...I get nauseated and disgusted when guilt-ridden wealthy people try to come across as friends of the common man by endorsing soak-the rich taxes. I’ve even debated a couple of self-loathing trust fund babies (see here and here) about class-warfare policy. If neurotic rich people believe that the government should have more money, there’s nothing […]
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