The title of this piece has an asterisk because, unfortunately, we’re not talking about progress on the Laffer Curve in the United States. Instead, we’re discussing today how lawmakers in other nations are beginning to recognize that it’s absurdly inaccurate to predict the revenue impact of changes in tax rates without also trying to measure […] . . . → Read More: Progress on the Laffer Curve*
There’s a saying in the sports world about how last-minute comebacks are examples of “snatching victory from the jaws of defeat.” I don’t like that phrase because it reminds me of the painful way my beloved Georgia Bulldogs were defeated a couple of weeks ago by Auburn. But I also don’t like the saying because […] . . . → Read More: The “Stupid Party” Strikes Again: Congressional Republicans Poised to Give Up Sequester Victory
Every so often, when the temptation is too great, I’ll comment on something written by Paul Krugman. When he botched his analysis of Estonia, for instance, I joined that nation’s President in correcting some egregious errors. And I periodically remind people that Krugman was wildly wrong to deny the scandalous shortcomings of the government-run health […] . . . → Read More: Paul Krugman Is (Sort of) Right about a Plot against France
There’s a joke in Washington that Democrats are the evil party and Republicans are the stupid party. Except this joke isn’t very funny since a lot of bad policy occurs when gullible GOPers get lured into “bipartisan” deals that expand government. Consider, for example, all the tax-hiking budget deals – such as the “read my […] . . . → Read More: Will Paul Ryan and GOP Budget Negotiators Snatch Defeat from the Jaws of Victory?!?
I routinely (some would say repetitively) argue that the burden of government spending is a drag on the economy because labor and capital are being misallocated via the political process. My message is that we need to reduce the size of the public sector, even if we do it in a very gradual way by […] . . . → Read More: The Rise (and Upcoming Fall) of the Welfare State in the Western World
The only sustainable way of achieving more prosperity and higher living standards is to increase the quality and quantity of labor and capital in the economy. This may sound like boring econo-speak, but labor and capital are the two “factors of production” and our ability to consume is limited by what we can produce. That’s […] . . . → Read More: The European Crisis (and American Future?) of too Many Over-Compensated Bureaucrats