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Lower Tax Rates > Targeted Tax Credits

Some folks on the right in Washington, generally known as reformicons (short for reform conservatives), want the Republican Party to de-emphasize marginal tax rate reductions and instead focus on providing tax relief to parents. There are many leaders in this movement and, if you want to learn more about the tax proposals being discussed, I […]

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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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The IMF’s Continuous – and Destructive – Love Affair with Higher Taxes

Since I’m an economist, I generally support competition. But it’s time to admit that competition isn’t always a good idea. Particularly when international bureaucracies compete to see which one can promote the most-destructive pro-tax policies. For instance, I noted early last year that the bureaucrats at the Organization for Economic Cooperation and Development (OECD) were […]

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America’s Built-In Greek Fiscal Future

I had a very bad lunch today. But not because of what I ate. My lunch was unpleasant because I moderated a noontime panel on Capitol Hill featuring Senator Ron Johnson of Wisconsin and my Cato colleague Chris Edwards. And I should hasten to add that they were splendid company. The unpleasant part of the […]

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An Under-Appreciated Victory over Obamacare

Let’s enjoy some semi-good news today. We’ve discussed many times why Obamacare is bad news, whether we’re looking at it from the perspective of the healthcare system, taxpayers, or workers. But it could be worse. Writing in the Washington Post, Robert Samuelson explains that two-dozen states have refused the lure of expanding Medicaid (the means-tested […]

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