by Dan Mitchell | Mar 19, 2015 | Big Government, Blogs, Economics, Government Spending
Earlier this year, President Obama proposed a budget that would impose new taxes and add a couple of trillion dollars to the burden of government spending over the next 10 years. The Republican Chairmen of the House and Senate Budget Committees have now weighed in....
by Dan Mitchell | Mar 17, 2015 | Big Government, Blogs, Economics, Government Spending
I feel a bit schizophrenic when people ask me my opinion of Republicans on Capitol Hill. When I’m in a good mood (or being naively optimistic, some might argue), I applaud them for blocking Obama’s spending agenda. The fights over sequestration, debt limits, and...
by Dan Mitchell | Mar 16, 2015 | Big Government, Blogs, Economics, Government Spending
It’s not very often that I applaud research from the International Monetary Fund. That international bureaucracy has a bad track record of pushing for tax hikes and other policies to augment the size and power of government (which shouldn’t surprise us since the IMF’s...
by Dan Mitchell | Mar 15, 2015 | Blogs, Economics, Minimum Wage
A few days ago, we used supply-and-demand curves to illustrate how taxes reduce economic output.Supply-and-demand curves also can be used to examine the impact of minimum wage laws on the labor market. Workers understandably will be willing to supply more labor at...
by Dan Mitchell | Mar 13, 2015 | Blogs, Economics, Taxation
While I sometimes make moral arguments against the current tax system (because it is corrupt, because it doesn’t treat people equally, because it provides unearned wealth for insiders, etc), my main arguments are based on economics. High tax rates on workers and...
