by Dan Mitchell | Aug 31, 2021 | Blogs, Capital Gains, Taxation
Yesterday’s column cited new scholarly research about the negative economic impact of Biden’s plans to increase capital gains taxation. In today’s column, let’s start with a refresher on why this tax shouldn’t exist. But if you don’t want...
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...
by Dan Mitchell | Aug 29, 2021 | Blogs, States, Taxation
I wrote last month about an encouraging wave of tax cuts at the state level. I’m particularly impressed by the tax-cutting plan in Arizona, which cleverly reversed a class-warfare scheme designed to enrich teacher unions. Indeed, I’m a big fan of...
by Dan Mitchell | Aug 25, 2021 | Blogs, Taxation
What motivates the tax-and-spend crowd? Why do they want high tax rates and a big welfare state? The most charitable answer is that they don’t want anyone to suffer from poverty and they mistakenly think big government can solve...
by Dan Mitchell | Aug 24, 2021 | Blogs, States, Taxation
I’ve been asked why I periodically mock politicians. The simple answer is that they often deserve our scorn. It’s not that they’re evil or bad people, but their incentive structure generally leads them to make shallow,...
