In an interview last week about Detroit’s bankruptcy, I explained that the city got in trouble because of growing dependency and an ever-rising burden of government spending. I also warned that the federal government faces the same challenge. Washington is in trouble mostly because of poorly designed entitlement programs rather than excessive compensation for a […]
read more...About two weeks ago, while making an important point about the Laffer Curve, here’s what I wrote about the fiscal disaster in Detroit. Detroit’s problems are the completely predictable result of excessive government. Just as statism explains the problems of Greece. And the problems of California. And the problems of Cyprus. And the problems of […]
read more...I’m a strong believer in federalism, but not because I think state and local governments are competent. Politicians and interest groups are a toxic combination in all circumstance. But at least people have considerable ability to cross borders if they want to escape greedy and despotic governments at the state and local level. And when […]
read more...Milton Friedman famously noted that, “Nothing is so permanent as a temporary government program”and Ronald Reagan sagely observed that “a government bureau is the nearest thing to eternal life we’ll ever see on this earth.” They’re both right, but they should have included the other half of the fiscal equation. Repealing a tax, even a […]
read more...I can say with great confidence that government bureaucrats are overpaid compared to people in the productive sector of the economy. Why am I sure that this is true, particularly when the so-called Federal Salary Council claims bureaucrats are underpaid? For the simple reason that the “job opening and labor turnover” data from the Department […]
read more...Taxpayers all across America send lots of money to Washington, DC, in part because we’re supposed to believe that redistribution is a legitimate and desirable function of the federal government. But this is a very perverse form of redistribution. All that money going to Washington helps subsidize a network of overpaid bureaucrats, fat-cat lobbyists, corrupt […]
read more...I’m a proponent of a pro-growth and non-corrupt tax code. I mostly write and talk about the flat tax, though I’d be happy to instead accept a national sales tax if we could somehow get rid of the 16th Amendment and replace it with something so ironclad that even Justices such as John Roberts and […]
read more...I have a handful of simple rules for good tax policy. Keep government small, since it’s impossible to have a reasonable tax system with a bloated welfare state. Keep tax rates low to minimize penalties against income, production, and wealth creation. Since capital formation is critical for long-run growth, don’t double-tax income that is saved […]
read more...Montgomery County in Maryland is not exactly a hotbed of free market thinking or a bastion of limited government. It’s one of the richest counties in the nation, but not because of entrepreneurship and wealth creation. Instead, it’s a bedroom community for over-paid bureaucrats, corrupt lobbyists, fat-cat contractors, and other ne’er-do-wells who commute into Washington […]
read more...In a decision that is overwhelmingly the result of the hard work and dedication of one person, Los Angeles is ending its revenue-generating red-light camera scheme. Here’s Jay Beeber’s interview with Reason TV. If you’re interested, this post has more information about how red-light cameras make intersections more dangerous. It’s probably an exaggeration to say […]
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