Category: "Economics & Tax Policy"

The Payroll Tax Trap

The Hill is reporting that "President Obama’s push to extend a payroll tax cut has united a rare combination of conservative Republicans and liberal Democrats in opposition."  In particular, Pete Sessions (R-TX), chairman of the NRCC, is suggests that a… more »

Markets vomit all over their shoes

Yesterday, while we were "celebrating" Labor Day, European stocks crashed, with most major European averages losing more than 4% and German losing over 5%. This follows a 2.2% drop in the US on Friday following the disastrous August jobs report showing… more »

Obama's zero economy

They approach the issue of economic growth as if it's a bill, it's a piece of legislation, it's a program, when it fact it is a philosophy. - Douglas Holtz-Eakin, former CBO Director, speaking of the Obama Administration on CNBC's Squawk Box program… more »

Compounding natural disaster with government disaster

The ever-reliable supporters of big government at CNN (no different from any other "mainstream" media outlet, to be sure) offer this interesting insight: Political antagonism toward deficits may exacerbate the long-term impact of natural disasters by… more »

The Fed's secret loans

A colleague from the Heartland Institute asked me to comment on the Bloomberg News story about the Fed giving $1.2 trillion of secret loans to large banks, both American and foreign, from 2007 to 2010. Here was my response: The magnitude of the Fed's… more »

Hans Rosling: The Magic Washing Machine

H/T Don Boudreaux The insights from this 9-minute video by Hans Rosling (of his presentation at TED last year) are multiple, important, and interesting, not least because they implicitly explain the immorality of a "green movement" which aims to reduce… more »

Stock market crashing

Half an hour after the market opening, the S&P 500 is down close to 5% and the Nasdaq down more than 5%. The yield on the 10-year note has fallen to 2%, the lowest in history that I am aware of. We're seeing a combination of fears, from European… more »

Easy for you to say

In a Monday op-ed in the New York Times, billionaire Warren Buffett called on Congress to "stop coddling the super-rich [and] … raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains."… more »

Imagine my surprise

Imagine my surprise, after the first week in several years in which I had no access to newspapers, television, or the Internet, to be re-plugged into the web on Tuesday, digging back through the news of early August, and wondering if Harold Camping was… more »

Stop being a dickhead and balance the f-ing budget

I've gotten this e-mailed to me by a few different people in the last 48 hours. If you haven't seen it already, it's worth your three minutes: Felonious Munk Presents: Stop It B! OBAMA PAY YOUR &*%$#% BILLS… more »