Libertarians are sometimes accused of being unrealistic and impractical because we occasionally talk about unconventional ideas such as competitive currencies and privatized roads. But having a vision of a free society doesn’t mean we’re incapable of common-sense political calculations. For example, my long-run goal is to dramatically shrink the size and scope of the federal […]
Continue reading Are Well-Meaning but Misguided Conservatives Being Seduced by the Value-Added Tax?
The world is a laboratory, with lots of experiments to see if a nation can prosper with big government and pervasive intervention. The results are not encouraging. I’ve written about France being a basket case, over and over again. And I am equally pessimistic about Greece because the moochers and looters outnumber productive people in […]
Continue reading Has Italy Passed the Point of No Return for Statism and Big Government?
In my writings on the Laffer Curve, I probably sound like a broken record because I keep warning that a nation should never be at the revenue-maximizing point. That’s because there’s lots of good research showing that there are ever-increasing costs to the economy as tax rates approach that level. So the question that policy […]
Continue reading The Real-World Impact of Higher Tax Rates on Upper-Income Households
I wrote last year about the remarkable acknowledgement by Bono that free markets were the best way to lift people out of poverty. The leader of the U2 band and long-time anti-poverty activist specifically stated that, “capitalism has been the most effective ideology we have known in taking people out of extreme poverty.” As the […]
Continue reading The Irish Tax Policy Debate: Bono 1 – Irish Union Bosses 0
The International Monetary Fund isn’t my least-favorite international bureaucracy. That special honor belongs to the Organization for Economic Cooperation and Development, largely because of its efforts to undermine tax competition and protect the interests of the political class (it also tried to have me arrested, but I don’t hold that against them). But the IMF […]
Continue reading Who You Going to Believe on Infrastructure Spending: The IMF in August or the IMF in October?
Europe is in deep trouble. That’s an oversimplification, of course, since there are a handful of nations that seem to be moving in the right direction (or at least not moving rapidly in the wrong direction). But notwithstanding those exceptions, Europe in general is suffering from economic stagnation caused by a bloated public sector. Barring […]
Continue reading Excessive Government Spending in Europe: Sowing the Seeds for another Fiscal Crisis