All Posts Tagged With: "income tax"
The Chimera of Tax Fairness
Let’s hear no more about tax fairness, unless it’s to point out that fairness is approached as tax rates move toward zero.
27Jan2012 | Sheldon Richman | 21 comments | ContinuedTaxation 101
Is it asking too much for reporters to know the difference between taxes paid and the percentage of income paid in taxes? Despite what the reporters imply, Warren Buffett did not pay less in taxes than his secretary, even if he paid a smaller percentage of his income in taxes.
24Jan2012 | Sheldon Richman | 4 comments | ContinuedTaxing Investment
The income tax double-taxes saving relative to consumption, that is, reduces the returns to saving twice, while reducing the returns to consumption just once.
23Jan2012 | Roy Cordato | 13 comments | ContinuedVivien Kellems: Giving the Taxman Hell
If principles are expressed through people, then Vivien Kellems’s life shouts out that business is not the handmaiden of government.
3Jan2012 | Wendy McElroy | 21 comments | ContinuedAlchemists of Loss: How Modern Finance and Government Intervention Crashed the Financial System
The subprime crisis and financial meltdown have spawned dozens of books, some aimed at re-enshrining John Maynard Keynes, others at laying him to rest once more; some aimed at praising the Federal Reserve for staving off another Great Depression, others at blaming it for treating the economy to another cyclical episode. In Kevin Dowd and [...]
26Oct2011 | Roger W. Garrison | 0 comments | ContinuedThe Tax-the-Rich Truth Squad
In the end, all that’s left of the argument for taxing the rich more heavily is pure demagoguery and a desire to avoid the real problem, which is reducing the size and cost of government.
22Sep2011 | Steven Horwitz | 25 comments | ContinuedThe Progressive Income Tax and the Joy of Spending Other People’s Money
On August 31, 1910, Teddy Roosevelt traveled to Kansas to make a stirring speech in support of a federal income tax. “The really big fortune,” Roosevelt said, “the swollen fortune by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men [...]
21Apr2011 | Burton W. Folsom Jr. | 5 comments | ContinuedA Boost for the Managed Economy
All players in the game have revealed themselves to be interventionists.
17Dec2010 | Sheldon Richman | 29 comments | ContinuedWashington’s Lies
During his campaign President Obama and his congressional supporters estimated that overhauling the nation’s health care system would cost $50–$65 billion a year. On June 15 the Congressional Budget Office (CBO) reported that Obama’s overhaul would cost at least $1 trillion. It’s clear that Obama’s cost estimates are untrue, and over ten years, it’s likely [...]
22Sep2010 | Walter E. Williams | 6 comments | ContinuedTeddy Roosevelt and the Progressive Vision of History
Over a hundred years ago, on August 31, 1910, Teddy Roosevelt gave his famous “New Nationalism” speech in Osawatomie, Kansas. In that speech the former president projected his vision for how the federal government could regulate the American economy. He defended the government’s expansion during his presidency and suggested new ways that it could promote [...]
22Sep2010 | Burton W. Folsom Jr. | 8 comments | ContinuedFiscal Force
I know ev’rybody earns; And I carefully compare it with the income-tax returns;” —W. S. Gilbert, Princess Ida April is the cruellest month, for reasons other than what T. S. Eliot had in mind. This is the month in which you must account for yourself to Caesar. The authorities, having relieved you of a goodly [...]
1Jul2010 | Sheldon Richman | 1 comment | ContinuedWhatever Happened to Thrift? Why Americans Don’t Save and What to Do about It
Keynesianism is back in vogue, and prominent economists are dusting off their discussions of the “paradox of thrift.” So amid the apologies for bigger government deficits, it is refreshing to read Ronald Wilcox’s Whatever Happened to Thrift? For those interested in the subject of saving, this volume is a good read. Too often when I [...]
29Jun2010 | Robert P. Murphy | 0 comments | ContinuedGovernment: More Incompetent than Ever
Most intellectuals support big government, and millions of people depend on it. So why, with thousands of laws, millions of employees working to carry out those laws, and trillions of dollars spent, is it in trouble? The most popular big-government programs–like Social Security, Medicare, and Medicaid–are going broke. These entitlements account for more than half [...]
19Apr2010 | Jim Powell | 1 comment | ContinuedTransfer Machine
“The government who robs Peter to pay Paul can always depend on the support of Paul,” George Bernard Shaw once said. For a socialist Shaw demonstrated good sense with that quotation. Unfortunately, America has become a laboratory in which his hypothesis is being tested. The theory of government I was taught says that government provides [...]
1Jan2010 | John Stossel | 7 comments | ContinuedFDR’s Lucky Timing
It’s not clear how any of FDR’s 1933 policies could have accounted for a 17 percent increase in GDP, even if they promoted expansion, because they wouldn’t have had time to ripple through the economy. It seems more likely that FDR had the good fortune to come into office near the bottom of the Depression, and enough adjustments in wages, prices, and other factors had occurred that the economy was ready to recover.
10Jun2009 | Jim Powell | 5 comments | Continued
Andrew Mellon: The Entrepreneur as Politician
Rarely do spectacular entrepreneurs leave their realm of business for the political arena. One exception is Andrew Mellon, the third-wealthiest American of his era, who left a dazzling career in American industry to become secretary of treasury under Presidents Warren Harding, Calvin Coolidge, and Herbert Hoover. Mellon established his career in Pittsburgh as a successful [...]
1Dec2008 | Burton W. Folsom Jr. | 4 comments | ContinuedAlcohol, Prohibition, and the Revenuers
The standard account of America’s experience with alcohol Prohibition centers on ideology. This account states that citizens were so infused with Progressive hubris that they set forth in 1919 on a futile quest to mandate morality by banning the manufacture and sale of liquor. But when they recognized that Prohibition was failing, Americans abandoned the [...]
1Jan2008 | Donald J. Boudreaux | 0 comments | Continued-
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