Category: "Economics & Tax Policy"

Human sacrifice on a carbon altar

In a recent NY Times op-ed, Thomas Friedman called Republican presidential hopefuls Rick Perry and Michele Bachmann “crazy” because they doubt man-made global warming. But his argument smacks of the desperation of the Cult of Algore as it sinks under… more »

As if Solyndra isn't bad enough

The Solyndra fiasco is all over the news, as well it should be, with political pressure apparently be brought to bear on the Office of Management and Budget to approve a more than half-billion dollar loan to a solar panel company which has now gone… more »

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 debt to… 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." That's… more »