by Dan Mitchell | Oct 24, 2014 | Blogs, Economic Growth, Economics, Taxation
Since all economic theories – even Marxism and socialism – recognize that capital formation is a key to long-run growth, higher wages, and improved living standards, it obviously doesn’t make sense to penalize saving and investment. Yet that’s exactly what happens...
by Dan Mitchell | Sep 1, 2014 | Big Government, Blogs, Economics, Laffer Curve, Taxation
I’ve already shared a bunch of data and evidence on the importance of low tax rates. A review of the academic evidence by the Tax Foundation found overwhelming support for the notion that lower tax rates are good for growth. An economist from Cornell found lower tax...
by Dan Mitchell | Aug 8, 2014 | Blogs, Economics, Taxation
I’m a long-time proponent of the flat tax for three simple reasons. 1. It replaces the discriminatory “progressive” tax with a single tax rate at the lowest possible level, thus reducing the tax penalty on productive behavior. 2. It gets rid of all forms of double...
by Dan Mitchell | May 6, 2014 | Blogs, Economics, Taxation
Allister Heath, the superb economic writer from London, recently warned that governments are undermining incentives to save. And not just because of high tax rates and double taxation of savings. Allister says people are worried about outright confiscation resulting...
by Dan Mitchell | Mar 20, 2014 | Blogs, Economics, Flat Tax, Taxation
I generally get very suspicious when rich people start pontificating on tax policy. People like Warren Buffett, for instance, sometimes advocate higher taxes because they’re trying to curry favor with the political elite. Or maybe they feel compelled to say silly...
