In a perfect world, we would shrink government to such a small size that there was no need for any sort of broad-based tax (remember, the United States prospered greatly for most of our history when there was no income tax).
During periods of economic weakness, governments often respond with loose monetary policy, which generally means that central banks will take actions that increase liquidity and artificially lower interest rates... Im not a big fan of this approach.
The bottom line is that the only argument for the Export-Import Bank is that it helps to perpetuate a corrupt insider scam.
Remarkably, we would now have a budget surplus of about $300 billion if that level of spending restraint continued to the current fiscal year.
The fact that Obama hasnt been able to make additional progress is not really a victory. Its simply a stalemate.
On the issue of so-called progressive taxation, our left-wing friends have conflicting goals. Some of them want to maximize tax revenue in order to finance ever-bigger government. But others are much more motivated by a desire to punish success.
Lets look at the profoundly perverse way that the federal government is using the refugee program to expand the problem of dependency.
To save the nation from a future Greek-style fiscal meltdown, we should reform entitlements. But as part of the effort to restore limited, constitutional government, we also should shut down various departments that deal with issues that shouldnt be handled by a big central government.
Since Im in the United Kingdom, its appropriate to announce that another Briton has been elected to the Moocher Hall of Fame.
Im sure such government actions have a negative economic impact, but this is a case where the moral argument should take precedence.
The tax code seems to get worse every year, and even though weve made some progress in recent years on spending, the long-run outlook is still very grim because theres hasnt been genuine entitlement reform.
If paying taxes for poor service makes a government illegitimate, I guess that means the State Department thinks the President should resign.
Remember Solyndra, the festering symbol of green-energy corruption that resulted in hundreds of millions of dollars of taxpayer money being flushed down the toilet? Based on the ratio of energy produced compared to insider enrichment, the entire green-energy racket is a sleazy boondoggle.
Since Liberals relentlessly insist that we can have bigger government, higher taxes, more regulation, and added intervention without any negative impact on economic performance, I asked them to identify a single country that became rich following their policies.
Theres a big fiscal battle happening in Europe. The relatively new Greek government is demanding continued handouts from the rest of Europe, but it wants to renege on at least some of the countrys prior commitments.
If the Court rules correctly (unlike, ahem, the last time the Justices dealt with Obamacare), it will then be very important that congressional reformers use the resulting mess to unwind as much of the law as possible.
Given the self-inflicted wound of worldwide taxation, particularly when combined with the worlds highest corporate tax rate, its easy to understand why some companies engage in inversions and become foreign-domiciled firms.
The Internet has made all of our lives better, in part because theres been an accidental policy of benign neglect from Washington.
You get very bad results when politicians replace the invisible hand of the market with the visible foot of government.
Simply stated, the political class is so anxious to get more of our money that they impose punitive tax rates that fail to generate the desired amount of revenue.
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