Taxes on Coverage

In Washington, words such as “cost,” “tax,” “subsidy,” “spending,” and other fiscal terms have no fixed meaning. For example, it is considered costly to cut taxes, and a subsidy to provide a tax break. This morning, we read that Bush wants to provide a tax break to low income people who buy private coverage, while taxing people “for some workers whose health plans cost significantly more than the national average.”

The Anti-Energy Congress

Whatever pretense the Republican administration has given to the free market in energy has disappeared into a storm of subsidies and rhetoric, writes William Anderson. Indeed, it seems that the real race is to see which political party can offer the most statist brand of energy. As part of its 100-hour blitz, the new Democrat-controlled Congress has announced that it wants to seek lower fuel prices by forcing up fuel prices. That is not a misprint.

Do We Exploit Cheap Immigrant Labor?

Capitalists have never been very popular among anti-immigration activists, writes Ryan McMaken. It is not uncommon to come across anti-immigration pundits like Lou Dobbs discussing the evils of “corporate America” and its efforts to “exploit cheap labor” at the expense of the American worker. Business owners are not persons with rights, but are instead part of a faceless entity known as “corporate America.” And their businesses do not hire people to perform productive work. Instead, they “exploit” cheap foreign labor.

Nightmares of a Central Banker

The record of modern central banking is bleak, writes Antony Mueller. Serving as a bailout machine for the financial markets and as a reliable financier of the state, modern central banks by the very nature of their origin and existence do not curb the booms (which they could) and do not prevent recessions or depressions (which they would wish to do but cannot). Monetary policy suffers from the same faults as any other centralized economic policy and other forms of interventionism, and like all centralized economic policies and interventionist measures, the monetary policy of active central banks has been failing again and again.

Dollars and Politics

The performance of the US economy in the 20th century owes much to the predominant role of the US dollar in the international monetary system, and a large part of attaining this role was the result of the political and military supremacy that the United States had gained after World War I. However, Antony Mueller argues that in a world where the economic strength of the United States is diminishing relative to other countries and regions, there will be less and less of a place for US dollar privilege.

“Price Gouging” Is Essential and Humane

Recently, several commentators have condemned price gouging in New Orleans as if they were reporting an inherently unjust practice that no reasonable person would accept. So, once again, writes Angelo Mike, it needs explaining why price gouging is not only not bad, but is essential to the welfare of everyone involved. Without it, people don’t get the essential goods they need after disasters. Free markets here are humane and necessary.

Mises at Madison Square Garden

When Mises was 81 years old, he was invited to address a student rally at Madison Square Garden that was sponsored by the Young Americans for Freedom. He readily accepted. He prepared an address that those in attendance would never forget.

He looked out over the sea of young people who had rejected the socialistic propaganda then common on college campuses, and with a smile on his face and determination in his voice, he said:

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