Taxes and Spending

Recorded at the Mises Institute in Auburn, Alabama, on 21 July 2015.

The only thing defense spending actually defends are the profits of defense contractors.

Believing his record on economic predictions to be impeccable, Paul Krugman has declared himself "Krugtron the Invincible." Unfortunately for him, a closer look at this record leaves quite a bit to be desired when it comes to accurately predicting the future.

Governments don’t like it when citizens emigrate to escape high taxes and other government-imposed costs. Governments would much rather keep productive citizens and their money at home. Bigger countries find it’s much easier to keep us in.

Myths about taxation are just one reason we need good economic reasoning now more than ever.

The video game industry has been criticized for taking advantage of tax breaks, with critics claiming that the industry is being "subsidized" by a smaller tax bill. But, there's a very big difference between a tax break and a subsidy.

Economic populists have become skilled at causing economic calamities while escaping the blame. Instead, it’s the non-populists that end up picking up the pieces while getting the blame for the unemployment and wealth destruction that follows in the wake of populist economic policies.

In the wake of the Amtrak railway disaster, we’re likely to hear that the solution to the problem is more tax funding and regulation. Few will suggest privatizing the railways. But the historical record suggests that privatization does indeed make for safer railroads.

Everyone knows about the Great Depression which brought massive government intervention and lasted a decade. But few know of the Depression of 1920–21 which was ignored by government and lasted eighteen months.

David Cameron’s razor-thin win in the UK elections means he’s had to promise a new referendum on EU membership. If the UK were to leave the EU, it may trigger Scottish secession and a major shift in the EU balance of power.