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Archive for September 14th, 2009

Republicans made many big mistakes when they controlled Washington earlier this decade, so picking the most egregious error would be a challenge. But continued American involvement with the Organization for Economic Cooperation and Development would be high on the list. Instead of withdrawing from the OECD, Republicans actually increased the subsidy from American taxpayers to the Paris-based bureaucracy. So what do taxpayers get in return for shipping $100 million to the bureaucrats in Paris? Another international organization advocating for big government. The OECD, for example, is infamous for trying to undermine tax competition. It also has recommended higher taxes in America on countless occasions. And now it is suggesting that Iceland impose big tax increases – even though Iceland’s economy is in big trouble and the burden of government spending already is about 50 percent of GDP:

 
Both tax increases and spending cuts will be needed, although the former are easier to introduce immediately. The starting point for the tax increases should be to reverse tax cuts implemented over the boom years, which Iceland can no longer afford. This would involve increases in the personal income tax… Just undoing the past tax cuts is unlikely to yield enough revenue. In choosing other measures, priority should be given to those that are less harmful to economic growth, such as broadening tax bases, or that promote sustainable development, such as introducing a carbon tax.

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Congratulations to FreedomWorks and other organizers of this past Saturday’s protest in Washington. The establishment media did its best to ignore the huge crowd, but it is a remarkable achievement when so many Americans come together to defend their nation. The U.K.’s Daily Mail almost certainly overstated the numbers, but they had a very good summary:

As many as one million people flooded into Washington for a massive rally organised by conservatives claiming that President Obama is driving America towards socialism. The size of the crowd – by far the biggest protest since the president took office in January – shocked the White House. …protester Richard Brigle, 57, a Vietnam veteran, said: ‘It’s going to cost too much money we don’t have.’ Another marcher shouted: ‘You want socialism? Go to Russia!’ Terri Hall, 45, of Florida, said she felt compelled to become political for the first time this year because she was upset by government spending.

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