Taxes and Spending

The capture of Saddam unleashed so much euphoria that many people have forgotten that the original justification for the war was not merely

Modern arguments for tariffs smack of the same old mercantilist arguments that have been refuted by economists going back to Adam Smith.

The newest trade deals involving American corporations and the Chinese government look less like free trade and more like mafia thuggery, writes Jude Blanchette. Using the threat of trade sanctions, the U.S. government has bullied the Chinese into purchasing billions of dollars in goods from only a few corporations. Just as the mob would exact tribute, the U.S. government is now playing the part of the mob and the Chinese government playing the hapless storeowner.

When the Winter Olympics came to Salt Lake City last year, some of the dirt that visiting journalists dug up to soil Utah's good name was the issue of polygamy. Polygamy, the practice of having more than one spouse at the same time, especially wives, is against the law. But, should it be?

Politicians believe that the size of the economy is fixed and they only have to decide how to divide it up, writes Richard Teather. Austrian economists, with their focus on the real world and human nature, know better; wealth does not just exist, it has to be created, and the disincentive effects of government actions do not just distribute wealth—they actively destroy it.

When the employer paid portion of the tax is added, then the percentage of American households that pay more in payroll taxes than income taxes is 74%. This is robbery of an entire generation of workers--in the name of providing them security, no less--and yet hardly anyone wants to talk about it.

Government has total power to make and break businessmen. This state of affairs compels businessmen, especially large, successful businessmen, to pay regular extortion money to politicians and government officials. They have to pay bribes, in the form of "campaign contributions" and "donations," to various pressure-group organizations in order not to be harmed or altogether destroyed.

Every once in a while, the truth about government spending somehow leaks out in Washington, writes Gregory Bresiger. Reluctantly, another one of our hired help recently told the truth about how the relentless taxing, inflating and spending of our central government is leading our nation down the road to serfdom. He then recommended more serfdom.

The proposed tax wasn't about progress. In the next century, the states that relieve dangerous regulatory and tax discrepancies by reducing taxes and regulations will be the ones that maintain their current levels of capital investment and attract new stores of it. Low taxes are no longer an ideal from which to gauge relative policy prescriptions. Rather, they are an imperative.