by Dan Mitchell | Jan 17, 2021 | Blogs, Taxation
In Part I of this series, I explained that President-Elect Biden’s soak-the-rich agenda didn’t make sense because the internal revenue code already is very biased against upper-income taxpayers. Indeed, the U.S. tax system is even more weighted against...
by Dan Mitchell | Jan 6, 2021 | Blogs, Taxation
After November’s election, I figured we would have gridlock. Biden would propose some statist ideas, but they would be blocked by Republicans in the Senate. All things considered, not a bad outcome. But Democrats won the run-off elections yesterday for both Georgia...
by Dan Mitchell | Jan 3, 2021 | Big Government, Blogs, Economics, Government Spending, Taxation
In an interview with Fox Business last week, I touched on three policies (easy money from the Fed, Biden’s class-warfare tax agenda, and the ever-increasing burden of federal spending) that create risks for the economy in 2021. I didn’t have a chance to elaborate in...
by Dan Mitchell | Jan 1, 2021 | Blogs, Taxation, Trade
Yesterday was my review of the best and worst policy developments in 2020. Today, I’ll share my hopes and fears for 2021. These are not predictions (economists have a terrible track record when try to make forecasts). Instead, these are merely good and bad things that...
by Dan Mitchell | Dec 24, 2020 | Blogs, Economics, Taxation
I don’t like higher taxes, whether looking at levies on income, capital gains, payroll, death, or consumption. But if asked to identify the worst way of hiking taxes, the wealth tax might lead the list because of the economic damage caused per dollar collected. If you...
