For years Dan Mitchell has criticized the value added tax (VAT). There are major problems with the way European nations have implemented the VAT. The biggest is that they didn’t get rid of all their other taxes first. At his blog International Liberty, Mitchell, a senior fellow at the Cato Institute, explains under what conditions […]
Class Warfare is Holding America Back
As the Senate and Congress ready themselves for a debate over tax reform, Dan Mitchell, a senior fellow at the Cato Institute, writes that the policymakers should ignore the shouting of class warriors and, like Reagan, focus on the entire economy. Faster economic growth is the best solution to the problems of everyone in the […]
What Can We Learn from Denmark?
Under the heading of “even a blind squirrel finds a nut,” Denmark targets deep tax cuts. What are we waiting for? Peter Levring writes at Bloomberg: By encouraging more people to work, the government expects to generate more revenue via sources such as value-added tax, Jensen said during a press conference in Copenhagen. “There’s still […]
Wealthy Connecticut Can’t Tax its Way to Stability
For years Connecticut’s cities have been relying on a morphine drip of state aid to get their books balanced. But now the state itself can’t afford to hand out all that aid and the drip is coming to an end. The state’s capital city Hartford, as I have written, is on the verge of bankruptcy. […]
Targeting the Rich with Taxes Tends to Hurt the Poor
Whenever Becky and our kids and I head down to the boatyard to take our 30 foot power boat out on the water for the day, we’re typically surrounded by the mega yachts inhabiting Newport’s docks during the season. Recently visitors to Newport could view Le Grand Bleu, one of the world’s largest private yachts out […]
Should the GOP Refuse to Work With Democrats on Tax Reform?
There has been some rumbling in Washington D.C. that the best way forward for tax reform would be a bipartisan bill that would implement a permanent reform to the tax code. Chris Edwards, the Cato Institute’s director of tax policy studies and a friend of mine from our meetings at Cato events, says Republicans should […]
Can America Beat Crony Capitalism?
Americans don’t like when the government tips the scales for a favored person or corporation. At The American Conservative, Alison Acosta Winters, a Senior Research Fellow in Economic Freedom at the Charles Koch Institute, reminds Americans that the Boston Tea Party was a response not to a tax hike on tea, but to a tax cut […]
Can the GOP Get Tax Reform Right?
After the failure of the GOP to get a repeal of Obamacare passed, Americans must consider whether or not the party can complete other parts of its agenda. Foremost among those parts is the tax reform proposal. The Wall Street Journal’s editorial board zeros in on six principles that would make the reform plan “pro-growth.” […]
Are Canada’s Higher Taxes the Answer to America’s Infrastructure Problems?
In a word, no. Dan Mitchell, a senior fellow at the free market focused Cato Institute deftly shoots holes in the argument made by Canadian writer Jonathan Kay in The Atlantic. Kay makes the case that if only the U.S. would raise its overall tax burden nearer to the average for OECD nations, the Land […]
A Hidden Tax in the New Illinois Budget
Illinois residents have been watching closely as their lawmakers took the state to the brink of having its debt downgraded to junk status last month. It was a white-knuckle ride and there were no winners. But in the final compromise there was a hidden clause that made Illinois residents the undoubted losers of the final […]
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