by Dan Mitchell | Aug 25, 2024 | Blogs, Economics, Free Market, Socialism
About 10 days ago, I showed that Milton Friedman was a much better economist than Joseph Stiglitz by comparing Chile (which followed Friedman’s ideas) and Venezuela (which followed Stiglitz’s ideas). It was a slam-dunk win for Friedman. Chile started poor and...
by Dan Mitchell | Aug 20, 2024 | Blogs, Economics, Taxation
As part of her tax-and-spend agenda, Kamala Harris says she wants to increase the federal corporate tax rate from 21 percent to 28 percent. While it doesn’t seem possible, there is a tiny sliver of good news in her proposal. I’m happy that she isn’t proposing to...
by Dan Mitchell | Aug 19, 2024 | Big Government, Blogs, Economics, Government Spending
It’s been a while since I shared this video about the Rahn Curve (or Armey-Rahn Curve), so let’s watch this Golden Oldie from 2010. The insight of the Rahn Curve (sort of a spending version of the Laffer Curve) is that economic performance declines once government...
by Dan Mitchell | Aug 18, 2024 | Blogs, Economics, Taxation
When I list the principles that should guide tax policy, that almost always means these three goals. Low tax rates on work. No double taxation. No distorting loopholes. And I usually then point out that achieving these goals will get you to (or at least...
by Dan Mitchell | Aug 16, 2024 | Blogs, Economics
As a Senator, Kamala Harris embraced all sorts of terrible ideas, such as the Green New Deal and Medicare for All. But she’s now disavowed those proposals in an attempt to make herself seem more reasonable. Trump, by contrast, is consistent. For...
