Taxes and Spending

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The Economics and Ethics of Government Default, Part I

Monetary PolicyTaxes and SpendingPhilosophy and Methodology

What would it mean for the economy if by one fell swoop not just the debt owed to the central bank, but all of it disappeared?

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The Drive for State and Federal Protective Tariffs in Early America

Protectionism and Free TradeTaxes and SpendingU.S. History

Blog02/22/2021

Every depression generates a clamor among many groups for special privileges at the expense of the rest of society—and the American depression that struck in 1784–85 was no exception.

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The High Cost of Using the Minimum Wage as a Form of Welfare

Labor and WagesTaxes and SpendingU.S. Economy

Blog02/19/2021

Social activists now regard the minimum wage as another welfare program that can reduce the costs of programs like Medicaid and food stamps, and can reduce inequality. But the minimum wage is very poorly targeted for these purposes.

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AOC and Schumer Want Taxpayer Funding for Covid-19 Funerals

HealthSocialismTaxes and Spending

Blog02/09/2021

Democrats want taxpayer funding for the families of those who died of covid. But, of course, there's no discussion of helping those who died as a result of covid lockdowns, such as those who were denied medical treatment for cancer. 

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When Biden "Creates Jobs" Look for the Hidden Costs

Taxes and SpendingU.S. History

Blog01/29/2021

"Jobs programs" never create new wealth. They only redirect wealth and resources from other sectors of the economy. The cost to those other sectors is often very high. 

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What to Expect from Bidenomics

Taxes and Spending

Blog01/27/2021

In order to prevent the economy sinking into a lasting state of stagnation, what is required is to reduce both government spending and government regulation, and to rein in the Fed.

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California Now Wants to Tax People Who Live in Other States, Too

Taxes and Spending

Blog01/06/2021

In case you doubted that California's politicians are firmly committed to ever-higher levels of taxation, California is now trying to retroactively impose sales taxes on out-of-state retailers going as far back as 2012.

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2021's Deficit Spending Is Already Out of Control. Here's Why That's a Problem.

Taxes and Spending

Blog12/23/2020

Deficits still matter, largely because they require monetary policies that lead to bubbles, inequality, and the slow Japanization of the US economy. 

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The Problem with Mandatory "Socially Responsible Investing"

Financial MarketsFree MarketsTaxes and Spending

Blog12/23/2020

There are ominous signs on the horizon that governments want to move toward mandating "socially responsible investing" for pensions and fund managers. This is a terrible idea, to say the least. 

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