Taxes and spending don’t “balance out.” Mark Thornton channels Rothbard: taxes compound the damage—distorting markets, rewarding the political class, and grinding down real living standards.
A modern myth is that the more government taxes and spends, the more “equality” it brings. Brazil is proving that is not the case.
As socialists gain power in American cities and states, they look to destroy the creation of wealth and to tax the wealth-creators into oblivion. We know how these scenarios end.
As socialists gain power in American cities and states, they look to destroy the creation of wealth and to tax the wealth-creators into oblivion. We know how these scenarios end.
As I see it now, there are really two economies—two distinct systems of producing and exchanging wealth. Or rather, two systems that purport to do these things.
Public goods theory often assumes what it seeks to establish, namely, that the state is the indispensable precondition of production, even though the state itself depends upon prior production for every resource it possesses.
Public goods theory often assumes what it seeks to establish, namely, that the state is the indispensable precondition of production, even though the state itself depends upon prior production for every resource it possesses.
The US fiat monetary regime not only has given us inflation and boom-and-bust cycles, but it also is the main contributor to the out-of-control government spending and debt accumulation.
Can government policy replicate a market economy and improve the outcomes? That is the subject of the book, Moonshots and the New Industrial Policy. Lipton Matthews takes a deep dive into these questions.
If this ballot initiative passes in November 2026, then California’s billionaire exodus will continue, followed by the multimillionaires.
