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Obama’s Miserable Economic Legacy

Let’s take a look at President Obama’s economic legacy. The Washington Examiner opines on President Obama’s remarkable claim that he saved the world economy. President Obama…wants to be remembered for…[being]…the savior of the American and global economies. “There are things I’m proud of,” he said, citing Obamacare, then added, “Saving the world economy from a […]

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For Sustainable Fisheries, Private Property Rights Work Better than Command-and-Control Regulation

I’ve previously argued that private property rights are a vital component of a pro-environment agenda. Interestingly, the Washington Post sort of agrees. At least with regards to fisheries. In a recent editorial, it acknowledged that the current communal system doesn’t work. The world’s fisheries, which feed billions of people, are in serious decline. The authors […]

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Is “Capitalism” a Dirty Word and “Liberal” a Good Word?

I’m a proud advocate and defender of capitalism for the simple reason that it is a system that is consistent with human freedom while also producing mass prosperity that was unimaginable for much of human history. Jurisdictions that embrace capitalism enjoy great progress while nations that veer in the other direction suffer economic decline, as […]

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The Healthcare Exclusion Is the Tax Code’s Most Harmful Loophole

What’s the worst loophole (properly defined) in the cluttered internal revenue code? I think the deduction for state and local taxes is very bad policy since it enables higher tax burdens in states such as California, New Jersey, and Illinois. The exemption for municipal bond interest is another misguided provision since it makes it easier […]

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Economic Lesson from Europe for Hillary: Higher Tax Rates Are a Recipe for More Red Ink

We can learn a lot of economic lessons from Europe. Never adopt a VAT unless you want much bigger government. Bigger government means lower living standards. Don’t believe Bernie Sanders about the Nordic nations. Today, we’re going to focus on another lesson, which is that higher taxes lead to more red ink. And let’s hope […]

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Democracy, Societal Collapse, Public Choice, Goldfish, and Tax Competition

There’s a very powerful statement, variously attributed to Alexis de Toqueville, Benjamin Franklin, or Alexander Tytler, that basically warns that democracy is doomed when people figure out they can vote themselves money. There’s no evidence that any of them actually spoke or wrote those words, though I guess it doesn’t matter that the quote didn’t […]

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