When I wrote the other day that the Organization for Economic Cooperation and Development was the worst international bureaucracy, I must have caused some envy at the International Monetary Fund.
In my ultimate fantasy world, Washington wouldnt 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.
I almost feel sorry for my leftist friends. Whenever theres a story about a crazed shooter, they invariably speculate that its someone affiliated with the Tea Party. So they must be sad when it turns out to be a random nut or in some cases a leftist.
Theres an old saying that you shouldnt bite the hand that feeds you. Unfortunately, politicians in Washington dont follow that advice.
America has a giant long-run problem largely caused by poorly designed entitlement programs such as Social Security, Medicare, and Medicaid.
Okay, Ill admit right away that the title of this column is an exaggeration.
The standard argument against an easy-money policy is that it creates distortions in an economy that lead to either rapid increases in the price level, like we endured in the 1970s, or unsustainable asset bubbles, like we experienced last decade.
Even small differences in economic growth make a big difference to living standards over time.
For the people of China, theres good news and bad news.
A nations prosperity is determined by the quantity and quality of labor and capital that are productively utilized.
When writing about economic growth, my usual approach is to point out that more output is a function of increases in the quantity and quality of labor capital.
I dont understand the lefts myopic fixation on income inequality. If they genuinely care about the less fortunate, they should be focused on policies that produce higher incomes.
There are some things in life that are guaranteed to make me smile.
Who benefits most from the death tax?
Ive sometimes asserted, only half-jokingly, that statists believe all of our income belongs to the government and that we should be grateful if were allowed to keep any slice of what we earn.
Whats Americas main fiscal policy challenge, particularly in the long run?
I realize its tax week and I should be condemning our convoluted tax code and oppressive IRS.
Whats the Laffer Curve? Its the simple, common-sense observation that theres not a linear relationship between tax rates and tax revenue.
Free trade is a good moral concept for the simple reason that politicians and bureaucrats should not be allowed to interfere with voluntary transactions between consenting adults.
Ive often complained that government-created third-party payer is the main problem with Americas healthcare system, and I was making that point well before Obamacare was imposed upon the country.