When I give speeches on the importance of public policy, I frequently share data showing that pro-market nations are relatively prosperous when compared to countries with statist policies. One of the most dramatic examples is South Korean prosperity versus North Korean deprivation. It's not that South Korea is perfect.
Long-run trends are an enormously important - yet greatly underappreciated - feature of public policy. Slight differences in growth can have enormous implications for a nation's long-run prosperity. Gradual shifts in population trends may determine whether a nation faces demographic decline. Modest changes in the growth of government can make the difference between budgetary stability...
Why Doesn't Hillary Learn any Lessons from the Slow Suicide of California and other High-Tax States?
Here's a quiz for readers. When politicians increase taxes, the result is: a) More spending? b) More red ink? c) Fewer jobs? d) Out-migration of productive taxpayers? e) Reduced competitiveness? f) Less investment? g) A bigger underground economy? h) More corruption? i) Less economic output? This is a trick question because the answer is (j),...
Connecticut was a tax haven in the North East until 1991, when it enacted an income tax that has become more and more progressive over the years. The result? Citizens fleeing the state for more tax-friendly ones and, ironically, less revenue for Connecticut.
Americans don't like the tax system, but they don't dislike it nearly as much as they should. For those of us who want to scrap the tax system, this is a challenge. And I'm not shy about admitting the problem.
People are enraged over the thought of cutting government funds to the arts, humanities, and public television. They're saying that without federal money, these programs would fail, and there would be no more arts, no more humanities, no more of the shows broadcast on public television.