Posted in Big Government, Debt, Deficit, Economics, Entitlements, Fiscal Policy, Government Spending, Health Reform, Keynes, Keynesian, News Appearance, Obama, stimulus, Taxation, Value-Added Tax, VAT, tagged Big Government, Debt, Deficit, Entitlements, Government Spending, Keynesian Economics, News Appearance, VAT on February 17, 2011 |
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I discuss taxes, spending, and other fiscal policy issues in three interviews at CPAC.
In this interview for PJTV, I mostly chat about taxes, including the fight over the 2001 and 2003 tax cuts, the threat of a value-added tax, and the potential for real tax reform.
In this podcast for the Institute for Liberty (beginning at the 8:55 mark), I explain why government spending undermines prosperity, whether it is short-run “stimulus” spending or long-run “investments,” and also talk about the debt limit and a potential government shutdown.
In this podcast for United Liberty, I pontificate about spending fights on Capitol Hill, including the “continuing resolution,” the debt limit, entitlements, repealing Obamacare, and the 2012 budget.
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Posted in Capital Gains Tax, Competitiveness, Corporate income tax, Corporate tax, Fiscal Policy, Flat Tax, Tax Compliance, Tax Reform, Taxation, tagged Capital Gains, Corporate income tax, Corporate taxation, Dividends, Flat Tax, Tax Compliance, Tax Reform, Taxation on February 17, 2011 |
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Here’s a video arguing for the abolition of the corporate income tax. The visuals are good and it touches on key issues such as competitiveness.
I do have one complaint about the video, though it is merely a sin of omission. There is not enough attention paid to the issue of double taxation. Yes, America’s corporate tax rate is very high, but that is just one of the layers of taxation imposed by the internal revenue code. Both the capital gains tax and the tax on dividends result in corporate income being taxed at least two times.
These are points I made in my very first video, which is a good companion to the other video.
There is a good argument, by the way, for keeping the corporate tax and instead getting rid of the extra layers of tax on dividends and capital gains. Either approach would get rid of double taxation, so the economic benefits would be identical. But the compliance costs of taxing income at the corporate level (requiring a relatively small number of tax returns) are much lower than the compliance costs of taxing income at the individual level (requiring the IRS to track down the tens of millions of shareholders).
Indeed, this desire for administrative simplicity is why the flat tax adopts the latter approach (this choice does not exist with a national sales tax since the government collects money when income is spent rather than when it is earned).
But that’s a secondary issue. If there’s a chance to get rid of the corporate income tax, lawmakers should jump at the opportunity.
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Forget the Magna Carta and the Constitution. Don’t pay attention to the end of slavery. Ignore the defeat of the Nazis or the collapse of the Soviet Empire.
If you want a real victory for humanity, European courts have ruled that people have the right to free soccer games on TV. Apparently, people are now “entitled” to anything that is “of major importance” to society.
Isn’t that just peachy? Europe is slowly collapsing under the weight of the welfare state. Nations such as Greece and Portugal already have reached the point of fiscal collapse. But rather than address these problems, the political elites at the European institutions have decided on a modern-day version of bread and circuses for the masses.
Here’s a blurb from the Financial Times.
European countries are entitled to ban the exclusive airing of World Cup and European football championship games on pay-TV in order to allow wider public viewing on free channels, one of Europe’s top courts has ruled. The ruling is a blow for Fifa, which organises the World Cup finals, and Uefa, which handles the European Football Championship finals. Both organisations depend heavily on the sale of broadcasting rights for much of their income and had challenged the extent to which games had to be shown more widely. But on Thursday the General Court in Luxembourg slapped down their arguments and ruled in favour of Belgium and the UK, which had included games organised by Fifa or Uefa on their lists of events they considered to be “of major importance” to society and so entitled to wider audiences.
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