“Capitalism without Bankruptcy Is Like Religion without Hell”

by Dan Mitchell | Oct 17, 2011 | Bailouts, Blogs

After any news appearance, I torment myself by watching the clip and telling myself I should have said something differently or raised a different point. But I’m actually happy with this appearance on Fox Business News because I (hopefully) explained the difference...

Is This the Worst Thing Obama Has ever Said?

by Dan Mitchell | Oct 8, 2011 | Big Government, Blogs

Over the years, Obama has said some really disturbing things. In my video on class warfare, I noted that Obama in 2008 said he wanted to raise the capital gains tax even if the government lost revenue. It was necessary to punish success, he said, to promote...

One Simple Reason (and Two Easy Steps) to Show Why Obama’s Soak-the-Rich Tax Hikes Won’t Work

by Dan Mitchell | Sep 20, 2011 | Blogs, Economics, Laffer Curve, Taxation

It’s hard to keep track of all the tax hikes that President Obama is proposing, but it’s very simple to recognize his main target – the evil, nasty, awful people known as the rich. Or, as Obama identifies them, the “millionaires and billionaires” who happen to have...

CPAs Celebrate as Obama Proposes to Create a Turbo-Charged Alternative Minimum Tax

by Dan Mitchell | Sep 19, 2011 | Blogs, Taxation

Wow, this is remarkable. The alternative minimum tax (AMT) is one of the most-hated features of the tax code. It is such a nightmare of complexity that even Democrats routinely have supported “patches” and “band-aids” to protect millions of additional households from...

Thomas Sowell Exposes the Historical and Economic Illiteracy of the Political Class

by Dan Mitchell | Sep 17, 2011 | Big Government, Blogs, Economics, Government Spending, Taxation

Thomas Sowell just completed a three-part “Back to the Future” series, looking at a couple of fiscal policy issues. His unifying theme is how the political class fails (perhaps deliberately) to learn from mistakes. In Part I, he decimates President Obama’s new...