What happens when cities do not reform pensions? Or when government unions, refusing to compromise on pensions and retiree health care, insist that the wealthy pick up the tab? Welcome to Chicago, with its $33 billion in unfunded pension liabilities. Chicago Mayor Rahm Emanuel is now proposing gigantic tax increases in a city already heavily […]
“Hillary Parties Like It Is 1938”
As Hillary’s poll numbers continue to slip and slide due to uneasiness about her integrity and candor in her State Department email chicanery, the Cato Institute’s Senior Fellow Alan Reynolds looks at Hillary Clinton’s “most memorable economic proposal,” ushered in this summer. Hillary is borrowing a page from Franklin D. Roosevelt, writes Mr. Reynolds in […]
Top 5 Loser States
You don’t want to be stuck in a loser state. In 2013 more than 200,000 people left states with Democrat governors for ones with Republicans according to Americans for Tax Reform. “People move away from high tax states to low tax states. Every tax refugee is sending a powerful message to politicians,” said ATR President […]
Is Your State Welcoming Businesses?
The Tax Foundation’s great research shows businesses the best places in the country for setting up shop. A state with a failing grade should be a warning to local politicians that they’re doing something wrong when it comes to stimulating the job creators and entrepreneurs. First take a look at The Tax Foundation’s 2015 State […]
A Wrecking Ball to the Economy
With Hillary Clinton’s announcement of her plan to nearly double the capital gains rate for investments held less than six years, Stephen Moore writes that it shows a deep and disturbing ignorance of the effects of the capital gains tax and its impact on growth. As Mr. Moore points out, Hillary’s plan to raise the […]
How High are Gas Taxes in Your State?
Richard Borean of the Tax Foundation recently updated the organization’s Gas Tax Map. Take a look at just how much per gallon you’re paying to your local governments. In some cases it’s a hefty proportion of the price. Borean wrote: Pennsylvania has the highest rate of 51.60 cents per gallon (cpg), and is followed closely […]
A Tax Plan from Rand Paul
Over at The Hill, Lloyd Sloan sings the praises of Rand Paul’s tax plan, which is unlike any other seen in the Republican or Democrat field of candidates: Senator Paul’s plan calls for a 14.5 percent flat rate on income. It will replace today’s corporate taxes with a new 14.5 percent value-added tax. It eliminates […]
Chainsaw the Tax Code
Every year Americans spend billions of dollars and billions of hours on tax preparation. Wouldn’t it be nice to file a one page tax return?
A Greek Tragedy’s Teachable Moment
With one in four adults unemployed and half of its young people out of work, who is going to pay for the fat pensions and cradle-to-grave welfare benefits that many Greek citizens consider a human right? Furthermore, who in Greece would want to work? According to the Cato Institute’s Alan Reynolds, the cascade of taxes […]
Has Warren Buffett Lost His Mind?
Originally posted May 21, 2015. Leave it to good ole’ Warren Buffett to create a stir. In a recent op-ed in The Wall Street Journal, he calls for an expansion of the Earned Income Tax Credit (EITC) to help low-income workers. How about a reduction in the size of government instead Mr. Buffett? Let workers keep […]
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