Fiscal Theory

Contrary to popular belief, interest rates have nothing to do with money. The attempt to manipulate interest via the money supply can only cause distortions. 

The Alternative Minimum Tax was supposed to soak the rich. Predictably, it is now poised to soak huge swaths of the middle class.

Tax cuts are always a joy. But let's dispense with the fiction that they constitute an economic stimulus. For that, we need an increase of savings and dramatic spending cuts.

Bush's tax cut means that a small amount of money will escape the clutches of our ruling class, but it is no great triumph for our liberty or our wallets.

In choosing whether tax cuts should be big or small, will the U.S. follow the path of Germany's Ludwig Erhard or of the socialists in Britain? Gregory Bresiger explains what's at issue.

Tax cuts are great, but there is a missing element in Bush's budget: any attempt to cut outlays. New spending must be paid for somehow, someday, writes Frank Shostak.

Bush's tax cut proposal is way too modest. Here's James Ostrowski's plan for a $21 trillion tax cut. It would not only get the economy going; it would restore a free market.

Socialists like Bernie Sanders are pushing rebates as a substitute for tax cuts. William Anderson explains that the idea is morally and economically bankrupt.

Paul Krugman rails against cutting taxes, but his own quack solution is more of what brought about the downturn in the first place.

The system is wide open to abuse, maltreatment, and even corruption, writes Hans Sennholz