Topic: Taxation

10 Ways to Close the Tax Evasion Gap

– August 2, 2024

“It is possible to reduce tax evasion without sending armed IRS agents to kick in doors or confiscate assets. The ten reasons given above provide some guidance to creating a tax system most people would voluntarily support.” ~Robert W. McGee

Economic Growth, Property Rights, Taxation

French Exports to Avoid: Wealth Taxes

– August 2, 2024

“Wealth taxes tend to yield low revenue, while dragging down economic growth. But they do make for good politics, especially in election years; envy commands votes.” ~Nikolai Wenzel

Central Banking, Inflation, Taxation

$35 Trillion — and Counting

– July 31, 2024

“Interest payments on the debt alone surpass the budgets of many major federal agencies combined. At this point, federal debt service costs amount to approximately $900 billion, which is 17 percent of total federal spending.” ~Peter C. Earle

Economic Growth, Free Trade, Taxation

Ruminations on Income Inequality

– July 31, 2024

“Many of today’s low-income workers will be tomorrow’s middle-income workers; and many of these workers will be among the country’s highest-income earners sometime in the future.” ~Donald J. Boudreaux

Fiscal Policy, Regulation, Taxation

How Rent-Seeking Wrecks the Soul of Enterprise

– July 26, 2024

“The more the state becomes involved in everyday affairs, the more we move to a rent-seeking society, enabling a power dynamic based on what can be accessed rather than on what can be earned.” ~Kimberlee Josephson

Energy, Environmentalism, Regulation, Taxation

The Economic Folly of a Carbon Tax

– July 21, 2024

“Increasing production costs leads to higher prices for goods and services, disproportionately affecting low- and middle-income households — especially when they already suffer from high inflation.” ~Vance Ginn

Economic History, Taxation

Want to Pay More Tax? You Can

– July 19, 2024

“Congress has also budgeted for $1.7 trillion of deficit spending for the current fiscal year; over 26,000 times as much money as has been donated to the Gifts to Reduce the Public Debt account over the past 29 years combined.” ~David Hebert

Free Trade, Regulation, Taxation

GOP Trade Platform Would Penalize Forgotten Americans

– July 18, 2024

“The GOP platform calls for new Buy American restrictions, but this is just warmed-over Bidenomics. The Peterson Institute calculates that Buy American measures cost US taxpayers $94 billion in 2017.” ~Bryan Riley

Harwood Economic Review, Policy, Taxation

Harwood Economic Review Bidenomics

– July 15, 2024

Harwood Economic Review Table of Contents Assessing Bidenomics: The Fatal Conceit of National Commercial Policy Nikolai G. Wenzel Uncle Sam, Addicted to Debt, Faces Future Military Bills Doug Bandow Biden’s ‘Strike Force’ Recalls Nixon’s Economic Plan …

Government, Property Rights, Taxation

After Moore v. US, Wealth Taxes Are Only Mostly Dead

– July 15, 2024

“The question of whether the government could tax the defendants’ unrealized gains — a common device in what are often called ‘wealth taxes’ — seemed to be teed up. But Justice Brett Kavanaugh, who wrote the majority opinion, avoided it.” ~GianCarlo Canaparo

Economic Growth, Regulation, Taxation

A Tale of Two States: Idaho and California

– July 15, 2024

“People have continued to move away from California and to Idaho, but the main drivers have probably been less the affordability of housing and more the higher quality of life and better economic opportunities in general.” ~Jason Sorens

Fiscal Policy, Regulation, Taxation

Money First, People Last?

– July 11, 2024

“Higher corporate tax rates will bring about exactly what people like Senator Hawley fear: the control of the market in the hands of a few key players by means of force.” ~Thomas Savidge