The Real Both/And Budget Solution

I had the pleasure of appearing on Relevant Radio last Friday to talk to Sheila Liaugminas on her show, “A Closer Look.” I discussed the idea of “intergenerational justice,” a term favored by evangelicals (Roman Catholics tend to talk about “intergenerational solidarity”), and how that concept relates to much of today’s discussion about the federal budget. Continue Reading...

Who is My Brother’s Keeper?

Back in February 2008, then candidate for president Barack Obama addressed a crowd at a General Motors Assembly Plant in Janesville, Wis. He said, …I am my brother’s keeper; I am my sister’s keeper– that makes this country work. Continue Reading...

The Complex Tax Code

Today at Capital Commentary I discuss the size and scope of the tax code in the US relative to its basic purposes. In “Back Door Social Engineering,” I argue, “When governments run huge deficits in part because of the complexity of its tax system and the ability of people and institutions to engage in large-scale (and legal) tax avoidance, there is something deeply wrong with the system.” Continue Reading...

Don’t Knock the Laffer Curve

Michael Kinsley has a column up at The Politico in which he claims to debunk a series of Reagan myths. The one that annoys me the most is the one that is obviously and clearly incorrect and at the same time gets the least explanation from Kinsley. Continue Reading...

A Tithe for Uncle Sam

Catching up on some recent Acton commentaries. We welcome a new writer, John Addison Teevan, who is director of the Prison Extension Program at Grace College. He also teaches economics and Bible courses at the Winona Lake, Ind., Continue Reading...

The Main Battle

In the “Wealth Inequality Mirage” on RealClearMarkets, Diana Furchtgott-Roth looks at the campaign waged by “levelers” who exaggerate and distort statistics about income inequality to advance their political ends. The gap, she says, is the “main battle” in the Nov. Continue Reading...

Re: Broken Windows – University Funding Edition

As Kishore Jayabalan noted yesterday, the fallacy of “broken windows” is, unfortunately, ubiquitous in discussions of public finance and macroeconomics. Though we are told that government spending and public works have a stimulating effect on economic activity, rarely are the costs of such projects discussed. Continue Reading...

The Regressive Carbon Tax

A new NBER working paper promises to blow up the myth that it is primarily the wealthy that will bear the cost of taxes on carbon emissions. In “Who Pays a Price on Carbon?” Continue Reading...