I’ve been writing about bad policy at the state and local levels for years now. Most recently I told you about the rough state of affairs in Hartford, CT, a major American city that’s headed toward a possible bankruptcy. Another government on the brink is the state of Illinois, which credit ratings agencies are watching […]
Why Don’t the Pro-Tax Rich Pay More Voluntarily?
Dan Mitchell of the Cato Institute shines a spotlight on politicians and activists who advocate for higher taxes but don’t voluntarily pay the rates they recommend. The obvious takeaway, these folks don’t put their money where their mouths are. If you want to see a bunch of hypocritical leftists squirming with embarrassment, there’s a very clever […]
Where Can You Live the American Dream for Less than $2 Million Bucks?
California is dreaming. Where else in the world do regular homes go for well over $2 million bucks? There are cracks in that foundation. As an aside, take a look at the chart. The top three holdings in the MSCI USA Growth Index are: Apple, Amazon.com, and Facebook. Look familiar? Now forget about this chart. It’s […]
Taxing Its Way into a Depressing Death Spiral
The state of Connecticut is a prime example of the Laffer Curve. Using the back of a napkin, Art Laffer drew a simple display illustrating the point at which collecting taxes falls to zero, “because nobody bothers to earn or report any income,” writes Francis Menton in the Manhattan Contrarian. In the 80s, New York […]
Dan Mitchell: The Press Doesn’t Get the Laffer Curve
The Laffer, popularized by Reagan administration economist Art Laffer, says that certain high tax rates restrict growth and therefore if rates were lowered, growth would pick up and more than make up for any lost revenues. The reduction in rates leaves the government and taxpayers wealthier than before. Dan Mitchell has regularly explained the effects […]
Roth IRA Tax Reform
I like the ideas offered here by Cato’s Chris Edwards and Ryan Bourne. They discuss ways to simplify retirement savings accounts, and reforms that have been made to the similar systems in Britain and Canada. Then they explain the benefits of Universal Savings Accounts, a reform to the saving system being offered by Congressman Dave […]
America: The Poor Want In, but The Rich Want Out
A lot of attention is given to illegal immigration in the U.S. and rightly so. But another problem that could have even greater effects is the expatriation of wealthy Americans looking for lower taxes. The number of Americans leaving the U.S. has set records for the last four years in a row. According to the […]
Donald Trump’s Tax Plan–Playing to Win
Democrats have no interest in working with Donald Trump “to harmonize, simplify and reduce” tax rates for corporations as well as individuals. Knowing this, President Trump, understanding that it will take a united GOP to get it passed, is pitching his tax proposal squarely at Republicans. President Trump has “dramatically raised the stakes by laying […]
A Window of Opportunity to Reshape the Tax Code
Like much of the rhetoric from Campaigner Donald Trump, details on President Donald Trump’s tax plan are a bit sparse. The good news is that his tax plan does lean toward the supply-side principles on which he campaigned. And Mr. Trump’s ambitious but necessary economic course would help restore U.S. prosperity, writes the WSJ. Many […]
Connecticut’s Exodus Driven by Punishing High Taxation
Is it the end of the road for Connecticut’s high-tax experiment? Nutmeggers, especially the well heeled, are fleeing Connecticut for lower tax states like Florida. In the last five years alone 27,400 have left for the Sunshine State. The Wall Street Journal editors explain how the state’s progressive politicians must now bribe big businesses to stay […]
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