Tag Archives : IMF
A Victory for the IMF…and a Defeat for Good Fiscal Policy
It’s not easy being a libertarian, particularly if you follow public policy. Thomas Jefferson almost certainly was right when he wrote that “The natural progress of things is for liberty to yield, and government to gain ground.” Heck, just look at how small government used to be in the developed world compared to where it […]
read more...Untaxed and Overpaid IMF Bureaucrats Recommend Huge Tax Hikes in America
If there was a special award for chutzpah, the easy winner would be the bureaucrats at the International Monetary Fund. These pampered bureaucrats get lavishly compensated and don’t have to pay tax on their bloated salaries. You would think this would make them a bit sensitive to the notion that it’s hugely hypocritical of them […]
read more...Europe’s Self-Inflicted Decline: French Taxing, Italian Regulating, Greek Mooching, and IMF Economic Illiteracy
Every day brings more and more evidence that Obamanomics is failing in Europe. I wrote some “Observations on the European Farce” last week, but the news this morning is even more surreal. Let’s start with France, where I endorsed the explicit socialist over the implicit socialist precisely because of a morbid desire to see a […]
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The Steroid-Pumped Version of “Taxes Are for the Little People”
I’m not a big fan of international bureaucracies, mostly because they always seem to promote bad policy such as higher tax rates. The International Monetary Fund is urging higher tax rates and pushing for nations to replace flat tax systems with so-called progressive taxation. The Organization for Economic Cooperation and Development has embraced Obama’s class-warfare […]
read more...In a Battle Between the IMF and Greece, I Want Both Sides to Lose
I don’t like the international bureaucrats at the IMF, and I don’t like the corrupt politicians of Greece, so for whom do I cheer if there’s a fight between those two groups? Ideally, both sides will lose (which is also my view of the European fight between Keynesians and tax increasers). You’ll understand when you […]
read more...Saying No to Additional IMF Bailout Money Should Be a Minimum Test for the GOP
In a grand Washington tradition, I periodically make imperious demands. In the past year or two, I’ve issued the following ultimatums to the GOP. o No tax increases, since more money for Washington will encourage a bigger burden of government and undermine prosperity. o Reform the biased number-crunching methodology at the Congressional Budget Office and […]
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If Even the International Monetary Fund Acknowledges the Laffer Curve, Why Doesn’t Obama Realize that Higher Tax Rates are All Pain and No Gain?
I speculated last year that the political elite finally might be realizing that higher tax rates are not the solution to Greece’s fiscal situation. Simply stated, you can only squeeze so much blood out of a stone, and pushing tax rates higher cripples growth and drives more people into the underground economy. Well, it turns […]
read more...Should the Fiscal Pyromaniacs at the IMF Get another $500 Billion so They Can Advocate Keynesian Spending and Class-Warfare Tax Hikes?
Perhaps the title of this post is a bit unfair since the International Monetary Fund is good on some issues, such as reducing subsidies. And some of the economists at the IMF even produce good research. But I can’t help but get agitated that this behemoth global bureaucracy wants more money when it has a […]
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New Evidence from Japan Shows Why Romney’s Interest in a Value-Added Tax Is so Troubling
In a recent column for the Wall Street Journal, I explained why Mitt Romney’s interest in a value-added tax is deeply troubling. One of my key points was that the VAT is a money machine for big government. But don’t believe me. Look at Japan, where the politicians see increases in the VAT as a […]
read more...Amusing Cartoon Asks Whether American Taxpayers Should Bail Out Europe’s Welfare States
There’s a rather simple solution to Europe’s fiscal crisis, but politicians will never do the right thing unless every other option is exhausted. That’s why American taxpayers should not be involved in any sort of European bailout, either directly or indirectly. This cartoon captures my sentiment. At the risk of being picky, however, I would […]
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