Taxes and Spending

Is it justifiable to accept money from government? Almost always, say Jonathan Gress and Walter Block--but not for everyone.

Debt accumulation was already unsustainable prior to 2020, but the Great Lockdown has triggered an explosive increase. It may soon be reaching a point of no return for the world's major economies.

Government jobs may help reduce the official unemployment rate, but they actually damage the economy. After all, most government workers are employed in the business of redistributing wealth and regulating private property. 

Just as SJWs redefined justice as "social justice"—with big implications for how we view true justice—politicians are redefining infrastructure to justify even more government intervention in daily life.

Raising the US corporate tax would drive more capital out of the US. But the tax hike will be less risky if the US can get other countries to raise their tax rates as well. 

Biden’s tax increase plan does not make sense from a growth, revenue, or deficit perspective, and it does virtually nothing to address the real problem: ballooning spending on programs like Social Security.

The deficit for the year is pushing $2 trillion. And we still have five months to go until the end of the fiscal year. Only during World War II were the deficits so huge in relation to GDP. Meanwhile, the Fed continues to print money to buy more Federal debt.

When it comes to the oligarchs' new semiconductor subsidy scheme, the real cost in terms of economic distortions, lost welfare, and harm to competitors, is quite real and beyond the dollar amounts we see in the subsidy itself. 

Biden’s tax increase plan does not make sense from a growth, revenue, or deficit perspective, and it does virtually nothing to address the real problem: ballooning spending on programs like Social Security.

Profit-seeking entrepreneurs move factors of production to their highest and most economical uses. Amtrak, on the other hand, is diverting useful factors of production from higher use values to lower-valued uses. To put it another way, Amtrak is destroying wealth.