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Another Victory for the Laffer Curve, this Time over the Lifestyle Puritans

What do cigarettes and capital gains have in common? Well, they both start with the same letter, so maybe the Cookie Monster could incorporate them into his favorite song, but I’m thinking about something else. Specifically, both cigarettes and capital gains tell us something important about tax policy, the Laffer Curve, and the limits of […]

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Secular Stagnation Is the Unwelcome and Predictable Consequence of Bad Policy and Big Government

I shared a chart back in February that shows how long it takes to double GDP based on different growth rates. For instance, if the economy grows only 1 percent per year, it takes 70 years before the economy doubles. Think Italy or some other decrepit European welfare state. But if the economy grows 4 […]

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17 Trillion And Still Counting More

TALES ON VACATION – BEST OF THE TALES AND MORETALES ON VACATION – BEST OF THE TALES AND MOREFor the next, almost two weeks, Tales and Mrs. Tales and daughter and son-in-law Tales will be on vacation for our first overseas trip to a secret loc…

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17 Trillion And Still Counting More

TALES ON VACATION – BEST OF THE TALES AND MORETALES ON VACATION – BEST OF THE TALES AND MOREFor the next, almost two weeks, Tales and Mrs. Tales and daughter and son-in-law Tales will be on vacation for our first overseas trip to a secret loc…

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Social Security’s Looming Fiscal Nightmare

With all the controversy over the failed and costly Obamacare program, it’s understandable that other entitlements aren’t getting much attention. But that doesn’t mean there aren’t serious problems with Medicaid, Medicare, and Social Security. Indeed, the annual Social Security Trustees Report was released a few days ago and the updated numbers for the government-run retirement […]

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A Fair Critique of the Fair Tax

I’m a long-time proponent of the flat tax for three simple reasons. 1. It replaces the discriminatory “progressive” tax with a single tax rate at the lowest possible level, thus reducing the tax penalty on productive behavior. 2. It gets rid of all forms of double taxation, such as the death tax and capital gains […]

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