Hillary Clinton, Willie Sutton, and Class-Warfare Tax Policy | International Liberty

I don’t want to imply that there’s some moral equivalence between Hillary Clinton and Willie Sutton. Perish the thought!

After all, I’m sure Willie Sutton never expected gratitude from his victims.

If I had to summarize my views on fiscal policy in just two sentences, here’s what I would say.

  1. Government spending undermines growth by diverting labor and capital from more productive uses to less productive uses.
  2. Tax rates on productive economic behaviors such as work, saving, investment, and entrepreneurship should be as low as possible.

Since innovation, risk-taking, investment, entrepreneurship, and hard work are the keys to long-run growth, it certainly seems that the tax code shouldn’t be punishing those things.

She (Hillary) wants voters to adopt and us-vs-them mentality, so she demonizes successful people and implies that their wealth is somehow illegitimate.
In part, she is perpetuating the traditional leftist myth that the economy is a fixed pie and that the rest of us have less because someone like Bill Gates has more.

Source: Hillary Clinton, Willie Sutton, and Class-Warfare Tax Policy | International Liberty

Britain’s Exit from the European Union Might Leave Both the U.K. and the E.U. Better Off – Hit & Run : Reason.com

PeterSuderman

Peter Suderman

That’s the argument that British economist Andrew Lilico made recently in an interview with Vox’s Timothy Lee—that while Britain has gained from being part of the EU, both entities will be better off apart, and that the split, while upsetting to markets in the short term, will ultimately pave the way toward long-term gains for both, with the EU becoming stronger and more unified in a way that it simply couldn’t with Britain attached. Britain, in this thinking, helped set EU culture early on, but was simply too independent to ever fully integrate with the continent. Post-Brexit, basically, the EU is free to become the United States of Europe.

I’m a little less confident that this scenario will play out. Britain’s exit from the EU is just as likely to lead to more sovereign squabbling and a further breakdown of the EU. But ultimately even that might be better in the long run, as the EU as it stands is a deeply dysfunctional governing body that has consistently proven itself unable to effectively respond to the challenges it faces. The design of the EU is inherently awkward: Its monetary union is undercut by its lack of a fiscal union, and its attempts to maintain some level of national sovereignty are undercut by its power imbalances andanti-democratic elements. The structure is inherently unstable.

Regardless of which way it goes, the Brexit vote is likely to spur the EU to take action and move beyond its current unstable equilibrium. It’s as clear a sign as any that the EU can’t go on doing what it’s been doing. It’s a wake up call, basically. So while there are certainly risks to a dramatic move like this, that’s a good thing overall.

In the meantime, Britain is probably better off no matter what. If the EU moves toward becoming the smoothly functioning super-state that Lilico hopes for, then Britain will have helped make that possible. And if the EU continues in its dysfunction, or breaks up further, Britain will have extricated itself, protecting its own interests.

 

Brexit might spur U.K. reforms.

Source: Britain’s Exit from the European Union Might Leave Both the U.K. and the E.U. Better Off – Hit & Run : Reason.com

The Recipe for Job Creation: Less “Help” from Washington | International Liberty

The entire video was very concise, lasting less than four minutes, so it only scratched the surface. For those seeking more information on the topic, I would add the following points.

  1. Businesses will never create jobs unless they expect that new employees will generate enough revenue to cover not only their wages, but also the cost of taxes, regulations, and mandates. This is why policies that sometimes sound nice (higher minimum wages, health insurance mandates, etc) actually are very harmful.
  2. Redistribution programs make leisure more attractive than labor. This is not only bad for the overall economy because of lower labor force participation. This is why policies that sometime sound nice (unemployment benefits,food stamps, health subsidies, etc) actually are very harmful.

The American economy is in the doldrums. And has been for most this century thanks to bad policy under both Obama and Bush. So what’s needed to boost growth and create jobs? A new video from …

Source: The Recipe for Job Creation: Less “Help” from Washington | International Liberty

Democracy’s Death Spiral – John C. Goodman

257e412251dd752f730fd7cb60c52ee2

John C. Goodman

It works like this: Politicians find it in their self-interest to take from Peter and give to Paul, whenever Paul can offer more political support than Peter – in the form of votes, campaign contributions, get-out-the-vote efforts, etc. But as tax rates rise to pay for these political acts of theft, some of the Peters begin to emigrate to other jurisdictions. As more taxpayers leave, the tax rates needed begin to rise – leading to a greater exodus. Eventually there are no Peters left to tax to pay for all the benefits the Pauls were expecting.

In the United States I associate this general approach to politics with Franklin Roosevelt, who had two important insights.

Source: Democracy’s Death Spiral – John C. Goodman

What if the Left Doesn’t Really Want to Achieve its Policy Goals? – John C. Goodman

257e412251dd752f730fd7cb60c52ee2

John C. Goodman

First, labor unions in Los Angeles – the very unions that were in the forefront in pushing for California’s recently passed $15-an-hour minimum wage legislation — are petitioning to be exempted from the new law. After telling us for years how good high minimum wages are for everyone else, they are now claiming that the regulation is not good for their own members.

Second, as the New York Democratic primary election was well under way, the rhetoric became increasing shrill. Wall Street is responsible for inequality we were told by both Bernie and Hillary.

Yet as Dan Henninger reminds us in a Wall Street Journal editorial, it’s the rich Wall Street types who are putting up the money to fund charter schools and other alternatives to the public schools that are failing so miserably. No one who is poor is likely to climb the income ladder without a decent education. Yet New York City liberals, including the new liberal mayor, aren‘t lifting a finger to help. In fact, New York’s liberals seem quite content to let the teachers unions run the schools as they wish and leave things pretty much as they are.

Source: What if the Left Doesn’t Really Want to Achieve its Policy Goals? – John C. Goodman

The Left is All About Religion Influencing Public Policy—When It’s For Bigger Government – Reason.com

It has been a couple of weeks since Pope Francis released his encyclical about the environment, and liberals are just now recovering from their collective swoon. The organs of the left lavished it with praise, calling it everything from “authoritative” and “compelling” (The New York Times) to “powerful” and “revolutionary” (Salon). Humanity has sinned against the planet, they agree, and must take urgent, collective action to repair the damage.

Liberals took a decidedly less deferential tone when the craft-store chain Hobby Lobby sought a religious exemption from Obamacare’s contraception mandate.

Corporations can’t have religious beliefs, they said (ignoring the fact that thousands of incorporated entities, known as churches, clearly do). Even more emphatically, they insisted Hobby Lobby’s owners wanted “to impose their religious views on employees” (The New York Times again, echoing countless others). This was histrionic nonsense, given that employees remained perfectly free to buy contraception on their own.

Moreover, progressives insisted that the owners of Hobby Lobby faced no burden on their faith because they could still worship as they chose when they went to church. That also is the argument regarding religious objections to gay marriage: Individuals who disapprove may do so within the four walls of their church, but they should not be allowed to act on their convictions outside church by, say, declining to bake a cake for a gay wedding.

A few have even suggested churches that oppose gay marriage should lose their tax-exempt status: “We’ll let you practice your bigotry, at least within the confines of your own church,” went a piece in Fusion. “But we’re not about to reward you for doing so.” Even the ACLU has dropped its support for the Religious Freedom Restoration Act because while “religious freedom needs protection,” it should not be used “to impose one’s views on others.”

This is a pretty broad definition of “imposing.” By similar reasoning, one might argue that a Christian bookstore is imposing its views if it prefers not to carry Playboy and Penthouse. (After all, the baker is not refusing to serve gay customers outright. She is refusing only to provide a certain message on a cake.)

But if we’re going to accept that broad definition of “imposing,” then we should not be taking orders about environmental policy from the pope. To be consistent, progressives should have responded to his encyclical by lecturing Catholics that religious arguments for environmental stewardship are fine in church, but not as a basis for public policy.

via The Left is All About Religion Influencing Public Policy—When It’s For Bigger Government – Reason.com.

G. Keith Smith, M.D. – 10 Health Care Myths, and the Truth – 10 Health Care Myths, and the Truth

Dr. Keith Smith

Dr. Keith Smith

7). Free market principles don’t apply to health care.

Free market principles always apply, in spite of all attempts by the state to thwart them.  Acting in concert and consistent with free market principles allows for the most rational and fair and least wasteful and most moral allocation of resources.  Acting in concert with the free market and its characteristic open competition causes quality to soar and prices to plummet.  Every time, no exceptions.  Patients from all over the country are using our online pricing to leverage better deals in their local medical markets, as our facility and others embracing transparent pricing are only a short plane ride away!  As hard as many hospitals are trying to avoid it, they are in a competitive marketplace whether they like it or not.  Those in the medical industrial complex who say that free market principles don’t apply to their industry are typically those who benefit from avoiding competition at all costs.

Read the full article at: G. Keith Smith, M.D. – 10 Health Care Myths, and the Truth – 10 Health Care Myths, and the Truth.