New York’s Fiscal Suicide

– April 10, 2021

“If the tax increases are enacted, expect to see a significant drop in taxable income as upper-income taxpayers either leave the state or figure out other ways of protecting their income. I don’t know if the state will be on the downward-sloping portion of the Laffer Curve, but it’s safe to assume that revenues over time will fall far short of projections. And it’s very safe to assume that the economic damage will easily offset any revenues that are collected.” ~ Daniel J. Mitchell


Janet Yellen Is Serious, and That’s Really Sad

– April 9, 2021

“Yellen plainly feels individual U.S. tax rates aren’t high enough, so she seeks global tax harmonization on the corporate level in order to get another swipe at individuals. On their own, Yellen’s desires rate ridicule. As evidenced by the trillions Treasury collects every year from taxpayers in order to fund a government with powers ‘few and defined,’ Americans are already overtaxed.” ~ John Tamny


A Trillion Here, a Trillion There

– April 2, 2021

“In the end, the total of what comes out of the economy is limited by the total of what is produced, no matter that you can borrow or print up unlimited amounts of money. Borrowing and printing up trillions and trillions of dollars isn’t real. It’s a special form of deceit we economists call inflation.” ~ Clifford F. Thies


Where New Zealand Goes, the World Goes

– March 26, 2021

“In the 1990s New Zealand pioneered inflation targeting, an approach that every major country followed for the next three decades. In a few years we might look back at this fleeting Kiwi attempt at incorporating asset markets into monetary policy with the same admiring eyes that we now see their move to inflation targeting. Where New Zealand goes, the world tends to follow.” ~ Joakim Book


MMT’s Inflation Battle Will End In A Draw

– March 25, 2021

“Maybe this time is different, and perhaps this is the turning point – for MMT or for inflation. More likely, the fears and the ebullient promises will converge in a middle-of-the-way third option similar to what we saw after 2008: Politicians, pundits, economists, and central bankers talk, yet nothing much happens.” ~ Joakim Book


This Is a Pandemic of Fiscal Profligacy

– March 19, 2021

“Very few seem to care that we’re closing in on $30 trillion in debt, the symptom of our insane spending. In fact, it has become fashionable to claim that we can borrow without fear of a debt crisis or of any consequences. Admittedly, one reason for this belief is that people like me have been warning about the mounting debt and the potential deleterious implications for years.” ~ Veronique de Rugy


Debts, Deficits, and the Entitlement Crisis

– March 17, 2021

“The US government’s debt is soaring like never before and promises to only bring economic stagnation if not outright disaster. Looking past Covid-19, we should strive to implement bold reforms to our costly but important entitlement programs to truly deliver on fiscal stability. These reforms may not be popular or easy but there is no doubt that they will be necessary.” ~ Ethan Yang


Contra Nicholas Kristof, Presidential Ink Will Never ‘Scrub’ Away Poverty

– March 17, 2021

“It cannot be stressed enough that if poverty were about money, then it would have been wholly erased long ago given the trillions spent on its mitigation. Admirable as Kristof’s idealism is, it’s just that. Nothing more. The perfect world he envisions cannot and will not be created by the stroke of a pen.” ~ John Tamny


Politicians Turn Problems Into Power

– March 5, 2021

“Politicians make grandiose claims about their various and sundry programs because those claims resonate with the people who receive government largesse. In the end, people receive pennies on the dollar compared to what they could have received had we decided just to write a check. Our government has become a tool that politicians use to turn national problems into political power, so it should come as no surprise that they are not interested in solving problems at all.” ~ Antony Davies & James R. Harrigan


Forgiving Student Loans: Not The Great Idea You Think It Is

– March 1, 2021

“Like Bryan Caplan, I love learning so much I decided never to leave school. I live for the lightbulb moments students have when they realize what economists mean by ‘at the margin’ or when they start using and applying the concepts we cover in class. Economically speaking, those are private benefits, however, and the case for sticking taxpayers with the bill is shaky indeed.” ~ Art Carden


Are the Conditions Right for Another Commodity Super-Cycle?

– February 26, 2021

“With unemployment rates still elevated and much of the global economy in some form of lockdown, it is hard to imagine the conditions for an economic boom, especially one that will see wage increases, but the size and scale of the global monetary and fiscal response to the pandemic is unprecedented. It creates the conditions for a continued appreciation of a wide range of essential commodity prices as the pandemic ends and demand rebounds.” ~ Colin Lloyd


How Will We Pay for a $1.9 Trillion Spending Bill?

– February 12, 2021

“Politicians are quick to ignore the costs of government spending in proposing legislation and obscure those costs by issuing debt rather than raising revenues. It is politically popular to issue debt and send checks to everyone. The benefits of the policy are clear: people get checks. The costs, which ripple out through financial markets as interest rates are bid up, are difficult to tie to the policy.” ~ Nicolás Cachanosky