Celebrating humanity's flourishing through the spread of capitalism and the rule of law
23 Jul 2024 Leave a comment
in applied price theory, entrepreneurship, income redistribution, Public Choice, public economics Tags: France, regressive left, taxation and entrepreneurship, taxation and investment
Some folks on the left have a deep-seated resentment of successful investors, entrepreneurs, business owners, and other high-income people. They want to hit them with confiscatory tax rates, even if the tax is so punitive that the government doesn’t wind up with more revenue. Heck, some of them are so consumed by hate and envy […]
Will France Opt for Bernie Sanders-Style Taxation?
02 Jun 2024 Leave a comment
in Public Choice, public economics Tags: taxation and investment, taxation and labour supply
When I think of the world’s most mistreated taxpayers, a few options come to mind. Cam Newton, the quarterback who faced a marginal tax rate of nearly 200 percent on his Super Bowl bonus. The 8,000 French households who had to surrender more than 100 percent of their income in 2012. The unfortunate Spanish laborer […]
A Primer on Marginal Tax Rates, Part IV: The Combined Burden of Levies on Income, Payroll, and Consumption
21 May 2024 Leave a comment
in applied price theory, comparative institutional analysis, development economics, economics of regulation, entrepreneurship, growth miracles, industrial organisation, managerial economics, organisational economics, public economics, survivor principle Tags: taxation and entrepreneurship, taxation and investment
QUESTION TO CLAUDE 3: The EU and China lag behind the US in economic dynamism, measured by start-up activity, number of unicorns, age of unicorns (younger indicates more rapid innovation), and in productivity growth. Can you document this and tell me why?ANSWER: Here is the data to document the economic dynamism gap between the US,…
Claude 3 on why the US leads China and the EU in economic dynamism
19 May 2024 Leave a comment
in applied price theory, economic history, economics of education, entrepreneurship, human capital, income redistribution, industrial organisation, labour economics, labour supply, occupational choice, politics - USA, poverty and inequality, Public Choice Tags: taxation and entrepreneurship, taxation and investment
Like Thomas Piketty, Gabriel Zucman is a French economist who promotes economically destructive class-warfare tax policy. He’s also infamous for dodgy data manipulation, as Phil Magness explains in this Reason discussion. The interview lasts for 64 minutes, and I recommend the entire discussion. Yes, that’s a lot of time, but Phil has encyclopedic knowledge and […]
Debunking Bad Class Warfare and Debunking Nonsensical Class Warfare
07 May 2024 Leave a comment
in applied price theory, economic growth, economic history, entrepreneurship, human capital, income redistribution, industrial organisation, labour economics, labour supply, macroeconomics, Marxist economics, politics - USA, Public Choice, public economics Tags: taxation and entrepreneurship, taxation and investment, wealth tax
Everything you need to know about wealth taxation can be summarized in two sentences. The biggest problem with most tax systems is the pervasive tax bias against income that is saved and invested, which discourages the accumulation of capital that helps to finance future growth. Wealth taxes would dramatically increase the tax bias against saving […]
Dishonest Pimping for a Global Wealth-Tax Cartel
23 Mar 2024 Leave a comment
in applied price theory, applied welfare economics, economic growth, fiscal policy, income redistribution, labour economics, labour supply, macroeconomics, poverty and inequality, Public Choice, public economics Tags: taxation and entrepreneurship, taxation and investment, taxation and labour supply
The wealth tax is back. We have previously discussed the constitutional and policy concerns surrounding the push by Democrats like Sen. Elizabeth Warren (D., Mass.) to introduce a wealth tax that would start with billionaires. It would not likely end there. The law would also apply the same type of California approach to wealthy families […]
Eat the Rich: Warren Plan Would Impose Wealth Tax, Captivity Tax, and $100 Billion for Increasing Tax Audits
07 Mar 2024 Leave a comment
in economics of crime, law and economics, liberalism, Marxist economics, politics - USA, property rights Tags: Age of Enlightenment, regressive left, taxation and investment
From an MR reader: Good story here about one man in Washington state fighting the battle against the progressive tide. He single handedly got six initiatives on the ballot to repeal progressive reforms over the past few years. These include a police pursuit law that prevents police from chasing criminals in most cases, and a […]
Tide turning in Washington State?
16 Feb 2024 Leave a comment
in applied price theory, entrepreneurship, fiscal policy, income redistribution, labour economics, labour supply, macroeconomics, Public Choice, public economics Tags: taxation and entrepreneurship, taxation and investment, taxation and labour supply
Inflation is having an effect on everything, even policy analysis. Back in 2013, I wrote that Phil Mickelson was “California’s One-Man Laffer Curve” because he wanted to escape the Golden State to save about $1.2 million per year in taxes. But now, when a goose that lays golden eggs wants to escape, the numbers are […]
Florida’s One-Man Laffer Curve
12 Jan 2024 Leave a comment
in applied price theory, Austrian economics, public economics Tags: taxation and investment
There are three reasons to be a knee-jerk supporter of tax cuts (or to be a knee-jerk opponent of tax increases). The morality-driven libertarian argument that people should be able to keep the income they earn. The starve-the-beast argument that less revenue at some point may translate into less spending. The economic argument that lower […]
Not All Tax Cuts Are Created Equal
24 Dec 2023 Leave a comment
in applied price theory, economic growth, economic history, macroeconomics, public economics Tags: Ireland, taxation and entrepreneurship, taxation and investment
Two months ago, I wrote about a remarkable example of the Laffer Curve, involving Ireland’s low 12.5 percent corporate tax rate. According to the New York Times, Ireland was collecting so much corporate tax revenue that the government was having a hard time figuring out what to do with all the money (as you might […]
Corporate Taxation, Ireland, and Jealousy
05 Nov 2023 Leave a comment
in economic growth, economics of education, entrepreneurship, history of economic thought, human capital, income redistribution, labour economics, labour supply, macroeconomics, occupational choice, poverty and inequality, Public Choice, public economics Tags: taxation and entrepreneurship, taxation and investment, taxation and labour supply
A year ago, Jonah Franks, who runs Public Intellectuals for Charity, organized a debate between me and Peter Singer on “Do the rich pay their fair share?” I already posted my opening statement, my reflections on the debate, along with two follow-ups on Singer’s “Noble Lie.” The debate video itself, however, was gated for paying…
Caplan-Singer Debate Video
03 Nov 2023 Leave a comment
in applied price theory, econometerics, economic growth, entrepreneurship, fiscal policy, macroeconomics, public economics Tags: taxation and investment
I’m very critical of bad policies we got during the Trump years, most notably profligacy and protectionism. But I shower praise on the good policies, such as the 2017 tax legislation (especially the lower corporate tax rate and the curtailing of the state and local tax deduction). Today, we’re going to focus on the positive. […]
More Evidence for Trump’s Corporate Tax Reform, Part I
19 Oct 2023 Leave a comment
in economic growth, economic history, fiscal policy, macroeconomics, Public Choice, public economics Tags: taxation and investment
About 15 years ago, I narrated a three-part series on the Laffer Curve. Here’s Part II, which looks at real-world evidence. About halfway through the video (3:15-3:55), I discuss what happened when Ireland dramatically lowered its corporate tax rate. The net result was an increase in tax revenue. But not just by a small amount. […]
Ireland’s Corporate Tax and the Laffer Curve
21 Jul 2023 Leave a comment
in applied price theory, applied welfare economics, economic history, entrepreneurship, financial economics, income redistribution, industrial organisation, labour economics, labour supply, occupational choice, politics - New Zealand, Public Choice, public economics Tags: taxation and entrepreneurship, taxation and investment
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