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Economic Lesson from Europe for Hillary: Higher Tax Rates Are a Recipe for More Red Ink

We can learn a lot of economic lessons from Europe. Never adopt a VAT unless you want much bigger government. Bigger government means lower living standards. Don’t believe Bernie Sanders about the Nordic nations. Today, we’re going to focus on another lesson, which is that higher taxes lead to more red ink. And let’s hope […]

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Democracy, Societal Collapse, Public Choice, Goldfish, and Tax Competition

There’s a very powerful statement, variously attributed to Alexis de Toqueville, Benjamin Franklin, or Alexander Tytler, that basically warns that democracy is doomed when people figure out they can vote themselves money. There’s no evidence that any of them actually spoke or wrote those words, though I guess it doesn’t matter that the quote didn’t […]

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A Primer on the Corporate Income Tax: Everything You Need to Know about Creating a Simple System that Taxes Income only One Time

My opinion on taxing corporate income varies with my mood. When I’m in a fiery-libertarian phase, I want to abolish taxes on corporate income for the simple reason that all income taxes should be eliminated. Heck, I would also eliminate October 3 from the calendar because that’s the awful day in 1913 that the income […]

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Debunking VAT Myths

The value-added tax is a very dangerous levy for the simple reason that giving a big new source of revenue to Washington almost certainly would result in a larger burden of government spending. That’s certainly what happened in Europe, and there’s even more reason to think it would happen in America because we have a […]

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Tax Havens Promote Economic Prosperity and Protect Human Liberty

I sometimes wonder if I was put on this planet to defend tax competition and tax havens. I argue for fiscal sovereignty, good tax policy, and financial privacy to the denizens of Capitol Hill, both in writing and in person. I make the same arguments for readers of the New York Times, as well as […]

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Tax Day Is America’s Anti-Holiday and the Tax Code Is Anti-American

It’s that time of year. Those of us who wait until the last minute are rushing to get tax returns filed (or extensions submitted). So it’s also a good time to remind ourselves that there is a better way. Economists look at the tax system and focus on the warts that undermine growth. High marginal […]

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