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Tag Archives: taxes

Some Non-Covid Links

David Henderson asks if California’s government will raise taxes even more. A slice: To add insult to injury, the bill’s authors say the tax would be imposed “for the privilege of doing business” in California. And here I thought doing business was a right, not a privilege. Silly me. A basic principle in the economics of taxation is that a tax rarely sticks where it lands. Translation: whoever pays the tax almost never bears the whole burden. The payer passes on at least some, and often...

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A rose by any other name

Is graffiti an art? Is alcoholism a disease? Is economics a science? Is bombing cities during wartime terrorism?Who cares? Art, disease, science, terrorism are just words. How I feel about graffiti, alcoholism, economics, and bombing doesn’t depend in any way on how society labels those activities. Words are just words.I base my judgment on other factors. Do I like graffiti? How do I believe alcoholism should be addressed? Do I believe economics is useful? Do I...

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Quotation of the Day…

… is from page 157 of the late, great Harold Demsetz’s richly rewarding 2008 book, From Economic Man to Economic System: A tax levied on corporate profits reduces the care and effort owners will put into its operation, since part of the return that would have been received by owners will go to the state. De facto, private owners of the corporation are saddled with a shirking partner, the state, which takes part of the revenue and provides none of the effort to improve the firm’s return....

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Will California’s Government Raise Taxes Even More?

Are California taxes too high? Well, seven members of California’s Legislative Assembly and five  members of the Senate think they’re not high enough. These 12 politicians have co-authored a bill to amend the California constitution to make tax rates permanently higher and impose an excise tax, payroll taxes, and a special income tax. These are the opening paragraphs of my short piece for the Institute for Policy Innovation. The piece is titled “Will California’s...

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Some Non-Covid Links

Nicolás Cachanosky explains why today’s inflation is not chiefly caused by supply-chain web woes. Also writing about inflation is my intrepid Mercatus Center colleague Veronique de Rugy. The Editorial Board of the Wall Street Journal is unimpressed with the Fed’s current handling of inflation. Here’s the conclusion: Mr. Powell’s strategy seems to be to steer through his confirmation by talking tougher on inflation while doing little about it anytime soon. The Senators can decide if they...

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Economics in One Lesson

Connecticut State Representative Kimberly Fiorello released the 1-hour video of my discussion with her and her constituents about Henry Hazlitt’s 1946 book, Economics in One Lesson. Some highlights follow. 0:00 to about 1:30: Intro from Kimberly. From about 1:30 to about 12:00: My opening remarks. I cover labor unions, minimum wages, and tariffs. 14:00: How absence of the minimum wage helped Hazlitt early in his career. 16:00: Hazlitt’s answer on why it’s so hard for...

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Students Open to Evidence on Taxes

Interviewers at campusreform.org often go on campuses to interview college students about their knowledge of various current issues. There has been a lot of talk lately about whether “the rich” in the United States pay “their fair share” in taxes. Of course, “fair” is almost never defined. That’s part of what makes this 5-minute video, titled “WATCH: Students stunned when they hear how much ‘the rich’ already pay in taxes” so interesting. When many of the students...

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Some Non-Covid Links

Here’s a new and very useful site – EdWatchDaily – started by Brad Thompson, with George Leef also on board. Washington Post columnist Marc Thiessen presents evidence that illiberal critical race theory is indeed being taught in at least some government K-12 “schools.” A slice: Virginia’s Loudoun County Public Schools, which were ground zero in the debate over the role of parents in their kids’ education, paid $314,000 for critical race theory coaching for its teachers from the Equity...

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Some Non-Covid Links

David Henderson exposes the economic ignorance that infects Josh Hawley’s arrogant scheme to cure America’s supply-chain web woes. A slice: Hawley is right that we have a relatively free flow of capital into and from the United States. He is wrong to suggest that this has hurt American workers. He himself notes elsewhere in the article that America has a high trade deficit with the rest of the world. But he doesn’t take the next logical step and point out what this trade deficit...

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Some Non-Covid Links

David Henderson exposes the economic ignorance that infects Josh Hawley’s arrogant scheme to cure America’s supply-chain web woes. A slice: Hawley is right that we have a relatively free flow of capital into and from the United States. He is wrong to suggest that this has hurt American workers. He himself notes elsewhere in the article that America has a high trade deficit with the rest of the world. But he doesn’t take the next logical step and point out what this trade deficit...

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