by Dan Mitchell | Dec 22, 2015 | Big Government, Blogs, Welfare and Entitlements
Because of the budgetary implications, I think it’s more important to deal with Medicaid and Medicare than it is to address Social Security. If left on autopilot, Social Security will eventually consume an additional 2 percent of the private economy. That’s not good...
by Dan Mitchell | Sep 26, 2015 | Big Government, Blogs, Economics, Welfare and Entitlements
I repeatedly try to convince people that the welfare state is bad for both taxpayers and poor people. Sometimes I’ll add some more detailed economic analysis and explain that redistribution programs undermine growth by reducing labor supply (with Obamacare being the...
by Dan Mitchell | May 4, 2015 | Blogs, Economics
The standard argument against an easy-money policy is that it creates distortions in an economy that lead to either rapid increases in the price level, like we endured in the 1970s, or unsustainable asset bubbles, like we experienced last decade. Those arguments are...
by Dan Mitchell | Mar 4, 2015 | Blogs, Economics, Taxation
In my 2012 primer on fundamental tax reform, I explained that the three biggest warts in the current system. High tax rates that penalize productive behavior. Pervasive double taxation that discourages saving and investment. Corrupt loopholes and cronyism that bribe...
by Dan Mitchell | Feb 11, 2015 | Blogs, Economics, Taxation
Last week, I shared a TV interview about Obama’s budget, but much of the discussion was routine and didn’t warrant special attention. But there was one small part of the interview, dealing with the silly claim that America became a rich nation because of socialism,...
