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Fiscal Fights with Friends, Part II: Grading AEI’s Big-Picture Tax and Budget Reform

The American Enterprise Institute has published a comprehensive budgetary plan entitled, “Tax and spending reform for fiscal stability and economic growth.” Authored by Joseph Antos, Andrew G. Biggs, Alex Brill, and Alan D. Viard, all of whom I know and admire, this new document outlines a series of reforms designed to restrain the growth of […]

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Fiscal Fights with Friends, Part I: Responding to Reihan Salam’s Argument against the Flat Tax

In my ultimate fantasy world, Washington wouldn’t need any sort of broad-based tax because we succeeded in shrinking the federal government back to the very limited size and scope envisioned by our Founding Fathers. In my more realistic fantasy world, we might not be able to restore constitutional limits on Washington, but at least we […]

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The Ticking Fiscal Time Bomb of Social Security

America has a giant long-run problem largely caused by poorly designed entitlement programs such as Social Security, Medicare, and Medicaid. So when I wrote last month about proposals by some Democrats to expand Social Security, I was less than enthusiastic. …demographic changes and ill-designed programs will combine to dramatically expand the size of the public sector over […]

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Great News from Michigan as Voters Reject Political Elite’s Tax-Hike Scheme

I’ve openly stated that there are tax-hiking budget deals that theoretically would be attractive. But notice that “theoretically” is part of that sentence. That’s because in the real world, tax hikes have a poisonous effect on fiscal policy. Instead of being the lubricant that produces concessions from the big-government crowd, the prospect of additional revenue […]

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Why Is America Richer than Kazakhstan, and Why Has Estonia Surpassed Croatia?

Even small differences in economic growth make a big difference to living standards over time. I frequently share this chart, which highlights how long it takes to double economic output based on different growth rates. I also use real-world examples to show how some nations become much richer than other nations within just a few […]

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IMF Proposes to Sabotage China’s Economy

For the people of China, there’s good news and bad news. The good news, as illustrated by the chart, is that economic freedom has increased dramatically since 1980. This liberalization has lifted hundreds of millions from abject poverty. The bad news is that China still has a long way to go if it wants to […]

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