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Folks on the left have accused me of “trading with the enemy” for supporting these jurisdictions, but the real story is that we should emulate rather than prosecute these low-tax jurisdictions.
Even the New York Times is reporting that Moon’s statist agenda is not working.
I started my end-of-year “best and worst” series back in 2013, but didn’t begin my start-of-year “hopes and fears” series until 2017.
Theresa May was not a Brexit supporter. She failed to play some very strong cards and she basically worked to come up with a fake Brexit.
The link between good policy and convergence explains why Hong Kong and Singapore, for instance, have caught up to the United States. And the adverse effect of bad policy is a big reason why Europe continues to lag.
I do not like when politicians mistreat rich people, but I get far more upset when they do things that impose disproportionate costs on poor people.
If the burden of government spending is growing faster than the private sector, that is a very worrisome trend. In the long run, it leads to fiscal crisis.
I’ve repeatedly argued that faster growth is the only effective way of helping the less fortunate. Class warfare and redistribution, by contrast, are not effective.
The bottom line is that cronyism promotes and protects inefficiency. And when an economy is less productive, that results in lower incomes and diminished living standards. Sadly, this is not just a problem in developing and transition nations.
A key insight of international economics is that there should be “convergence” between rich countries and poor countries, which is just another way of saying that low-income nations should grow faster than high-income nations.
The authors wanted to find out whether bad economic news (as captured by data on “GDP growth, deep recession, unemployment, crisis”) leads to pro-market reforms.
Government should only step in when there’s a threat to life, liberty, or property. Sadly, the British government is policing speech, perhaps even speech that should be considered totally benign.
I’m assuming that the top-9 countries are not good places for women, but think about what sort of person would put the United States at #10.
I’m in no mood for diplomatic niceties when dealing with an organization that is pervasively hostile to economic liberty.
The bottom line is that federalism is good because it means people can easily move when a government imposes bad policy. This is also a recipe for tolerance and tranquility, though only one side sees it that way.
Congratulations to Belgium. According to the new edition of Taxing Wages, average Belgian workers have the dubious honor of surrendering the biggest chunk of their income to government. No wonder part of the country is interested in secession.
I periodically share data comparing the United States and Europe, usually because I want to convince people that America’s medium-sized welfare state is better (less worse) than Europe’s bloated welfare states.
The threat is not the red ink. The real danger is an ever-increasing burden of government spending, driven by entitlements.
Globalism (or globalization, or internationalism, or the policies of “Davos Man,,” or whatever you want to call it) increasingly is perceived to be about more than free trade and comity between nations. In the minds of market-oriented people, it is getting linked with other policies that cause considerable angst.
By the way, I have no objection to cameras that nail jerks who blow through an intersection three seconds after a light has turned red. Those are people who risk innocent lives.
In an ideal world, the central government would allow towns to formally secede, and those towns could then contract to have private management. But that will never happen since politicians would not want real-world examples showing the superiority of markets over government.
Let’s speculate about potential victories and defeats in 2018.
The simple reality is that giving more money to government schools is a foolish gesture.
Honest analysis requires a look at the overall record, and all data sources show that Chile’s economic performance is far superior to its peers.
The Treasury Department has a website that they can use to voluntarily send extra money to Washington. It’s called “gifts to reduce the public debt,” and people like George Soros can have their accountants and lawyers calculate the value of any tax cut and then use this form to send that amount of money to D.C.
The IMF’s support for bad policy gets me so agitated that I’ve sometimes referred to it as the “dumpster fire” or “Dr. Kevorkian” of the global economy.
Billions of dollars of wealth have already left New Jersey because of bad tax policy. Yet politicians in Trenton blindly want to make the state even less attractive.
Even though Republicans are not serious about controlling spending and even though I don’t think the GOP tax cut will come anywhere close to “paying for itself,” the tax cuts are still a good idea.
The bottom line is that the UK has plenty of negotiating power to get a good outcome.
France has all sorts of rules that “protect” employees, but the net effect is that workers suffer because these laws discourage entrepreneurs from creating jobs.
New Zealand's reforms are - or at least should be - a road map for Greece to follow.
Harsh taxes on yachts backfire because the people being targeted have considerable ability to escape the tax by simply choosing to buy yachts, staff yachts, and sail yachts where taxes aren’t so onerous.
Daniel J. Mitchell One of my favorite charts shows how nations achieve great results when they engage in multi-year periods of spending restraint. The most...
Last week, The Washington Post published a long, somewhat puzzling story on a small nonprofit group that advocates against enacting onerous and unfair restrictions on the international financial industry.
Our patriotism is to the ideals of the Founding Fathers, not to the bad tax policy of the U.S. government
The narrative being advanced by international media outlets suggesting that law firms like Mossack Fonseca are breaking the law, or helping others do the same, is belied by the fact that none of them have actually been charged with any crime.