Did Cyprus become an economic basket case because it is a tax haven, as some leftists have implied? Did it get in trouble because the government overspent, which I have suggested? The answers to those questions are “no” and “to some degree.” The real problem, as I explain in this interview for Voice of America, [...] . . . → Read More: What Really Happened in Cyprus?
It’s been more than three weeks since I targeted French fiscal policy for abuse and more than one week since I wrote something negative about the French fiscal system. I must be slowing down as I get older, so it’s time of rectify this oversight. My fundamental problem with the French system is that the [...] . . . → Read More: The Fuse Is Burning Brightly on France’s Fiscal Time Bomb
As the left tries to find more and more ways to violate our Constitutional rights, we have the Vice President of the United States offering advice to responsible gun owners, or those considering buying guns that is extraordinarily dangerous. For someone who is hell-bent on ending gun violence he recommends reckless gun handling [...] . . . → Read More: Joe Biden: A Dumb and Dangerous Gun Owner
I’ve frequently commented on Europe’s fiscal mess and argued that excessive government spending is responsible for both the sovereign debt crisis and the economic stagnation that plagues the continent. But it does seem that things have calmed down, so the readers who have submitted questions about whether the fiscal crisis has ended obviously are paying [...] . . . → Read More: Question of the Week: Has the European Fiscal Crisis Ended?
Back in mid-2010, I wrote that Portugal was going to exacerbate its fiscal problems by raising taxes. Needless to say, I was right. Not that this required any special insight. After all, no nation has ever taxed its way to prosperity. We’re now at the end of 2012 and Portugal is still saddled with a [...] . . . → Read More: Class Warfare Tax Policy Causes Portugal to Crash on the Laffer Curve, but Will Obama Learn from this Mistake?
There aren’t many fiscal policy role models in Europe. Switzerland surely is at the top of the list. The burden of government spending is modest by European standards, in part because of a very good spending cap that prevents politicians from overspending when revenues are buoyant. Tax rates also are reasonable. The central government’s tax [...] . . . → Read More: Portgual May Become the First of Europe’s Bankrupt Welfare States to Stumble upon a Genuine Recovery Formula: Less Spending AND Lower Tax Rates