Taxes and Spending

Germany's government is pushing a new plan for massive spending on a "Climate Fund." This is justified with the usual Keynesian myths about the benefits of government spending.

In Las Vegas, the city's convention center authority has found new ways to blow money on shiny objects like Elon Musk's death-trap tunnels and NFL events.

From its inception, the Fed's job has been to pay off the debt and cover excess expenditures with newly printed paper money.

So oppressive was the Inca regime that it's no wonder the Spaniards found many enemies willing to help topple the empire.

So oppressive was the Inca regime that it's no wonder the Spaniards found many enemies willing to help topple the empire.

An additional—and quick—$1 trillion spending boost in energy-intensive and material consuming industries is likely to create new problems in terms of inflation and supply shortages.

China's industrial policy has been marked by many failures and few successes. Rather, China's real growth has been fueled by the regime's limited turn to markets. 

An additional—and quick—$1 trillion spending boost in energy-intensive and material consuming industries is likely to create new problems in terms of inflation and supply shortages.

The new proposal is framed as a tax on the ultrarich. The same was true of the new income tax in 1913. If given the power to tax unrealized gains, expect the feds to expand the tax to ordinary people.

China's industrial policy has been marked by many failures and few successes. Rather, China's real growth has been fueled by the regime's limited turn to markets.