by Dan Mitchell | Dec 21, 2017 | Blogs, Economics, Taxation
Now that we have a final bill rather than a mere “agreement in principle,” let’s step back and consider some implications of tax reform. There are three reasons to be pleased and one reason to worry. Win: Less-destructive federal tax code There are several provisions...
by Dan Mitchell | Dec 16, 2017 | Big Government, Blogs, Government Spending, Taxation
Greece has confirmed that a nation can spend itself into a fiscal crisis. And the Greek experience also has confirmed that bailouts exacerbate a fiscal crisis by enabling more bad policy, while also rewarding spendthrift politicians and reckless lenders (as I...
by Dan Mitchell | Dec 15, 2017 | Blogs, Economics, Taxation
Adopting tax reform (even a watered-down version of tax reform) is not easy. Some critics say it will deprive the federal government of too much money (a strange argument since it will be a net tax increase starting in 2027). Some critics say it will make it more...
by Dan Mitchell | Dec 14, 2017 | Blogs, Taxation
In early November, I reviewed the House’s tax plan and the Senate’s tax plan. I was grading on a curve. I wasn’t expecting or hoping for something really bold like a flat tax. Instead, I simply put forward a wish list of a few incremental reforms that would make an...
by Dan Mitchell | Dec 13, 2017 | Blogs, Tax Competition, Taxation
When Ronald Reagan slashed tax rates in America in the 1980s, the obvious direct effect was more prosperity in America. But the under-appreciated indirect effect of Reaganomics was that it helped generate more prosperity elsewhere in the world. Not because Americans...
