by Dan Mitchell | Sep 19, 2021 | Blogs, Government Spending
With regards to fiscal policy, part of my mission is to proselytize in favor of lower tax rates and a smaller burden of government spending. But another goal is simply to make sure people understand basic facts about the budget. For instance,...
by Dan Mitchell | Sep 17, 2021 | Big Government, Blogs, Economics, Taxation
The Biden Administration’s approach to tax policy is awful, as documented here, here, here, and here. We’ve now reached the stage where bad ideas are being turned into legislation. Today’s analysis looks at what the House Ways & Means...
by Dan Mitchell | Sep 14, 2021 | Blogs, Taxation
When I discuss class-warfare tax policy, I want people to understand deadweight loss, which is the term for the economic output that is lost when high tax rates discourage work, saving, investment, and entrepreneurship. And I especially want them to understand...
by Dan Mitchell | Sep 1, 2021 | Big Government, Blogs, Government Spending, Welfare and Entitlements
In an ideal world, Americans would have personal retirement accounts, just like workers in Australia, Sweden, Chile, Hong Kong, Israel, Switzerland, and a few dozen other nations. But we’re not in that ideal world. We are forced...
by Dan Mitchell | Aug 30, 2021 | Blogs, Capital Gains, Economics, Taxation
Public finance theory teaches us that the capital gains tax should not exist. Such a levy exacerbates the bias against saving and investment, which reduces innovation, hinders economic growth, and lowers worker compensation. All...
