The folks at the Center for Freedom and Prosperity have been on a roll in the past few months, putting out an excellent series of videos on Obama’s economic policies. A look at the President’s failure to control government spending.
What Do Greece, the United States, and the Cayman Islands Have in Common? At first, this seems like a trick question. After all, the Cayman Islands are a fiscal paradise, with no personal income tax, no corporate income tax, no
President Obama recently got himself in a bit of hot water with his “you didn’t build that” remark, which trivialized the hard work of entrepreneurs. But he is right — in a perverse way — about government playing a big
Thanks largely to the Laffer Curve, there are some impressive examples of failed tax increases in countries such as the United States, France, and the United Kingdom. But if there was a prize for the people who most vociferously resist
I’m not a big fan of government conspiracy theories, largely because the people in Washington are too bloody incompetent to do anything effectively. Heck, sometimes they can’t even waste money properly even though they have lots of practice. But it recently crossed my
Back in 2010, I excoriated the new Prime Minister of the United Kingdom, noting that David Cameron was increasing tax rates and expanding the burden of government spending (including an increase in the capital gains tax). I also criticized Cameron
I have great fondness for Estonia, in part because it was the first post-communist nation to adopt the flat tax, but also because of the country’s remarkable scenery. Most recently, though, I’ve been bragging about Estonia (along with Latvia and Lithuania, the
Over the years, I’ve strenuously objected to schemes that would enable international bureaucracies to levy taxes. That’s why I’ve criticized “direct funding” proposals, most of which seem to emanate from the United Nations. A scheme to let the United Nations tax
It is very sad that America’s tax system is so onerous that some rich people feel they have no choice but to give up U.S. citizenship in order to protect their family finances. I’ve written about this issue before, particularly in the context
President Obama imposed a big-spending faux stimulus program on the economy back in 2009, claiming that the government needed to squander about $800 billion to keep the unemployment rate from rising above 8 percent. How did that work out? One possible
A problem in Washington is that people who specialize in particular fields are tempted to exaggerate the importance of their issues. To cite a couple of examples: People who work on monetary policy think their issue is most important, and
Actually, Bill Clinton must be something even worse than a social Darwinist. That’s because the title of this post is wrong. Obama said that Paul Ryan’s plan (which allows spending to grow by an average of 3.1 percent per year over
Last year, I expressed skepticism that the White House was serious about reducing the corporate tax rate. And, sure enough, when the Obama Administration produced a plan earlier this year, it was a disappointing mix of a few good provisions and several unpalatable
I’m not a big fan of welfare programs, in part because I sympathize with taxpayers (check out these outrageous examples of waste), but mostly because redistribution programs subsidize poverty and trap people in lives of despair. But as I wrote in 2010, the most
I’ve written before about how big government is enriching people in the Washington metropolitan area. This is for two reasons. First, bureaucrats are paid too much, getting twice as much compensation, on average, as people in the productive sector of the economy.
Early last year, the Center for Freedom and Prosperity released this video, narrated by yours truly, making the case that the United States and other nations should shift from a tax-and-transfer entitlement scheme to a system of personal retirement accounts. [youtube
As discussed earlier this week, the most important number in Obama’s budget is that the burden of government spending will be at least $2 trillion higher in 10 years if the President’s plan is enacted. But there are also some very unsightly
President Obama’s budget proposal was unveiled today, generating all sorts of conflicting statements from both parties. Some of the assertions wrongly focus on red ink rather than the size of government. Others rely on dishonest Washington budget math, which means spending increases magically become budget
When Ronald Reagan said that big government undermined the economy, some people dismissed his comments because of his philosophical belief in liberty. And when I discuss my work on the economic impact of government spending, I often get the same reaction. This
Is it April Fool’s Day? Has somebody in Paris hacked the website at the Organization for Economic Cooperation and Development? Have we been transported to a parallel dimension where up is down and black is white? Please forgive all these
What’s the worst policy idea that would cause the most damage to society? I’m tempted to say the value-added tax since our hopes of restraining the federal government will be greatly undermined if we give the buffoons in Washington a
What’s the worst policy idea that would cause the most damage to society? I’m tempted to say the value-added tax since our hopes of restraining the federal government will be greatly undermined if we give the buffoons in Washington a
What’s the worst policy idea that would cause the most damage to society? I’m tempted to say the value-added tax since our hopes of restraining the federal government will be greatly undermined if we give the buffoons in Washington a
On this day last year, I posted two charts that I developed using the Minneapolis Federal Reserve Bank’s interactive website. Those two charts showed that the current recovery was very weak compared to the boom of the early 1980s. But
Back in 2010, I crunched the numbers from the Congressional Budget Office and reported that the budget could be balanced in just 10 years if politicians exercised a modicum of fiscal discipline and limited annual spending increases to about 2
Leftists want higher tax rates and they want greater tax compliance. But they have a hard time understanding that those goals are inconsistent. Simply stated, people respond to incentives. When tax rates are punitive, folks earn and report less taxable
One year ago, I wrote about how the French government was getting unexpected additional revenues following the implementation of lower tax rates. This is the Laffer Curve in action, and it’s happening again in France, only this time because the
I’ve already bragged that the Cato Institute is America’s best think tank, highlighting the fact that we took the lead in battling against Obama’s faux stimulus at a time when many were dispirited and reluctant to fight big government. I’m
I’ve already bragged that the Cato Institute is America’s best think tank, highlighting the fact that we took the lead in battling against Obama’s faux stimulus at a time when many were dispirited and reluctant to fight big government. I’m
I’ve written a couple of times about the Food Stamp program, citing ridiculous examples of waste, fraud, and abuse. These include: Using food stamps to buy luxury coffee at Starbucks. Buying steaks and lobster with food stamps. The Obama Administration
The German Chancellor and French President have put together a plan to boost growth. Sounds like a good goal, but what specifically are they proposing? Some of the obvious ideas include: Lowering tax rates to boost incentives for productive behavior.
I don’t blame the Democrats for wanting to seduce Republicans into a tax-increase trap. Indeed, I completely understand why some Democrats said their top political goal was getting the GOP to surrender the no-tax-hike position. I’m mystified, though, why some
I’ve written several times about a proposed IRS regulation that would force American banks to put foreign law above U.S. law. I’ve repeatedly warned that the scheme, which would force financial institutions to report the deposit interest they pay to
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
Earlier this week, I explained why Mitt Romney is a Republican version of Barack Obama. His transgressions include being open to a value-added tax, a less-than-stellar record on healthcare, weakness on Social Security reform, an anemic list of proposed budget
I’m not a big fan of Mitt Romney. I hammered him the day before Christmas for being open to a value-added tax, and I’ve criticized him in previous posts for his less-than-stellar record on healthcare, his weakness on Social Security
I don’t know whether to laugh or cry when I write about insanely stupid government policies. But I know I get more motivated to fight big government. How can anyone want to give more money and power to politicians, for
I don’t know whether to laugh or cry when I write about insanely stupid government policies. But I know I get more motivated to fight big government. How can anyone want to give more money and power to politicians, for
Austan Goolsbee, the former Chairman of President Obama’s Council of Economic Advisers, has a column in the Wall Street Journal that argues government spending isn’t too high. That’s obviously a silly assertion, as I explain here, here, and here, but
I did a debate on income inequality for PBS but haven’t written much about the issue because I think it is a misguided diversion. One frustrating aspect of this debate is that folks on the left genuinely seem to think