Fiscal Theory

The Rube Goldberg machine: some crazy convoluted way of accomplishing a task that would otherwise be quite simple. A perfect way to describe the Clinton health care plan and emerging Social Security reform.

The withholding tax, writes Laurence Vance, makes it possible for the government to silently steal the wealth from its citizens with little or no outrage about the loss.

Since the celebrated "Republican Revolution" in 1994, writes Laurence Vance, the Republicans in Congress have not rolled back the welfare state one inch.

Obesity may be an individual problem, writes Tibor Machan. But it is not a social problem in the sense that this phrase is usually employed. 

Hans Sennholz discusses the many proposals to reform the program and save it from its demographic failings. Demographics, he argues, are a distraction from the core problems.

For local government bureaucrats around the country the Fifth Amendment has been stood on its head, with "public use" meaning any private use that generates more tax booty for city hall and "just compensation" meaning whatever the local government goons can steal the property for, writes Doug French.

How is the big spender ever able to campaign on a platform that he has reduced the cost of government to taxpayers? Robert Murphy shows what's wrong with the claim.

How is the Philippine government going to avert a looming fiscal crisis, which has been mounting for years? Of course, writes Grant Nülle, taxpayers will have to atone for the enormous debts run up by bureaucrats, legislators and managers of GOCCs.

The Deficit Twins, are, at best, fraternal, not identical, writes Sean Corrigan. In the last six years, US defense spending has risen 60% and four-fifths of this increase has taken place just since the present Administration took office.

In a brilliant lecture at the Austrian Scholars Conference, Sean Corrigan chronicles the failings of growth-driven government policies that impoverish in the long run.