The Exodus from Illinois Begins

by Dan Mitchell | Jan 22, 2011 | Big Government, Blogs, Economics, Tax Competition, Taxation

It may not be very nice to say “I told you so” when the warnings you issue become reality, but I’m not a nice person (at least when it comes to greedy politicians imposing stupid policy). So I’ll openly admit that I’m happy to read that entrepreneurs and job creators...

Animal House, John Galt, the Laffer Curve, and the Race to Commit Fiscal Suicide in Illinois

by Dan Mitchell | Jan 11, 2011 | Big Government, Blogs, Government Spending, Taxation

There is a very bizarre race happening in Illinois. The Governor and the leaders of the State Senate and General Assembly are trying to figure out how to ram through a massive tax increase, but they’re trying to make it happen before new state lawmakers take office...

Even Folks at Harvard and the IMF Are Beginning to Realize You Don’t Solve an Over-Spending Problem with Higher Taxes

by Dan Mitchell | Dec 6, 2010 | Big Government, Blogs, Government Spending, Taxation

In his latest Bloomberg column, Kevin Hassett of the American Enterprise Institute notes that research from places such as Harvard and the International Monetary Fund confirms that spending restraint is the way to successfully reduce red ink – and it’s also the way to...

Tax Loopholes Are Corrupt and Inefficient, but They Should only Be Eliminated if Every Penny of New Revenue Is Used to Lower Tax Rates

by Dan Mitchell | Nov 22, 2010 | Big Government, Blogs, Economics, Taxation

There’s been a lot of heated discussion about various preferences, deductions, credits, shelters, and other loopholes in the tax code. Some of this debate has revolved around whether it is legitimate to refer to these provisions as “tax expenditures” or “subsidies.”...

Another Tax-Hike Scheme from another “Bipartisan” Group of Washington Insiders

by Dan Mitchell | Nov 17, 2010 | Big Government, Blogs, Government Spending, Taxation, VAT

I’ve already commented on the proposal from the Chairmen of President Obama’s Fiscal Commission (including a very clever cartoon, if it’s okay to pat myself on the back). Now we have a similar proposal from the so-called Debt Reduction Task Force. Chaired by former...