Posts Tagged ‘Clinton’

I’ve explained, over and over and over again, that big government is the mother’s milk of corruption.

Simply stated, a convoluted tax code, bloated budget, and regulatory morass create endless opportunities for well-connected insiders to obtain unearned and undeserved wealth.

Is this evidence that Washington is broken?

In a column for Real Clear Politics., Mike Needham of Heritage Action suggests that the conventional wisdom is wrong. Washington actually works very well, but not for the American people.

Washington isn’t broken. It is a well-oiled machine that works for the well-connected and responds to the well-heeled. This corrupt nexus of favoritism and cronyism tends to leave hardworking Americans behind. …as we’ve seen with Obamacare, the bigger the government, the bigger the Bigs become.

Is he right? Well, let’s look at some evidence. We already know Obamacare has been a boon for hacks from the Democratic Party.

But did you know that lots of GOP insiders also are cashing in because of Obamacare?

Let’s not limit our analysis to Obamacare.

There are many other examples of how the folks in Washington live on Easy Street at our expense. For instance, they enjoy lavish junkets. Here’s what the Washington Post reported back in September.

As Congress returned Tuesday…, some 14 House members were resting up from a week-long trip to Hawaii. …It sounded like a fine journey via military jet (business class) to stay at the oceanfront Sheraton Waikiki in Honolulu. Dinners were planned at the famous Hy’s Steak House — the superb porterhouse is always worth the $88.95 — and the upscale Roy’s Hawaii with its great fusion menu. (We hope they tried the lobster pot stickers.) …The schedule thoughtfully included substantial “executive time” in the afternoons. This, as Loop Fans know, is often a thinly veiled euphemism for some fine lounging at the pool, or exploring beautiful Hawaii.

This boondoggle was especially irksome to me since I was in Hawaii at the same time. But I had to pay my own way! And my hotel was right next to Hy’s Steak House, which had a very appealing menu, but I didn’t go because taxpayers weren’t financing my meals.

Speaking of integrity in D.C., here’s a story from the Washington Post that belongs in the is-anyone-actually-surprised category.

The Honest Tea firm, which makes organic iced tea, set up a stand offering bottles of its tea at 27 cities throughout the country, including D.C., and used the honor system by asking people to leave $1 in a box when they took a tea. But in the District’s Dupont Circle neighborhood, someone stole money from the box. Executives at Honest Tea wouldn’t say exactly how much was in the box but said it ranged between $5 to $20. The theft happened in the early morning, officials believe, and they did not report it to police. It was the first time in the six years that the company has been doing its experiment that someone has actually stolen money from the collection box, officials with Honest Tea said.

By the way, Dupont Circle is a ritzy part of town, not a low-income ghetto.

I’m guessing the thief is a lobbyist or bureaucrat, someone who already has a track record of taking other people’s money.

But if you really want to see Washington at its most unseemly, the Clinton machine symbolizes the corrupt nexus of big government and cronyism. Here are some passages from a report by Politico.

A spring 2012 email to Hillary Clinton’s top State Department aide, Huma Abedin, asked for help winning a presidential appointment for a supporter of the Clinton Foundation, according to a chain obtained by POLITICO. The messages illustrate the relationship between Clinton’s most trusted confidante and the private consulting company that asked for the favor, Teneo — a global firm that later hired Abedin. Abedin signed on with the company while she still held a State Department position, a dual employment that is now being examined by congressional investigators. …Abedin also worked as an adviser to the Clinton Foundation, the nonprofit founded by former President Bill Clinton.

This is amazing. Working for an influence-peddling company while on the government payroll as well?!?

And speaking of influence peddling, check out these excerpts from another Politico story.

Campaigns are required to file reports detailing registered lobbyists who round up donations, but that number is only a small slice of the fundraisers who work in some capacity in Washington’s vast influence industry… A quarter of the “Hillblazers” who bundled $100,000 or more for Clinton work at lobbying firms or public affairs agencies lobby at the state level or otherwise make their living from influencing the government on behalf of special interests… Clinton received at least $5.4 million from professional influencers, compared with $3.2 million from registered lobbyists disclosed to the FEC. For Bush, the equivalent figures are $1.02 million and just under $408,000.

The Hill also has a story about D.C. insiders flocking to Hillary Clinton.

K Street is banking on Hillary Clinton, with more than twice as many Washington lobbyists donating to the former secretary of State’s presidential campaign than any other candidate.  Clinton — the frontrunner for the Democratic nomination — received at least $625,703 from 316 registered lobbyists and corporate PACs during the first half of the year, according to disclosure forms. …Former Florida Gov. Jeb Bush ranks as a distant second in the influence industry, collecting $444,500 from 140 lobbyists.

And why are lobbyists coughing up cash?

For the simple reason that they want access. And with access to politicians, that means they get access to other people’s money.

…support from K Street can not only help boost a candidate, but also put lobbyists in good standing with the candidate in the event he or she takes the White House. …lobbyists have hedged their bets by supporting several candidates, sometimes at the request of clients, they told The Hill, asking for anonymity.

Though keep in mind that Ms. Clinton and her cronies are just the tip of the iceberg.

She’s more guilty than most for the simple reason that she actively wants to expand government, which would create even more opportunities for mischief.

Let’s also be fair in acknowledging that this problem exists in other countries. Indeed, it’s probably worse elsewhere.

Vote buying in India, for instance, can be especially challenging. Check out these passages from a Reuters report.

Village bachelors in northern India are demanding brides for votes in state polls next month because of a shortage of women after decades of illegal abortions of female fetuses, the Mail Today reported on Thursday.

Though it appears that some Indian politicians actually are willing to say no to voters.

Politicians have dismissed the demand, the report said.

Of course, it’s quite possible that the politicians are saying no in public and then somehow trying arrange brides behind the scenes.

Time to conclude with some excerpts from a story about our ruling class in Washington.

Thousands of clients using the affair-oriented Ashley Madison website listed email addresses registered to the White House, top federal agencies and military branches, a data dump by hackers revealed. The detailed data, released Tuesday, will likely put Washington, D.C., on edge. The nation’s capital reportedly has the highest rate of membership for the site of any city. Indeed, more than 15,000 of the email addresses used to register accounts were hosted on government and military servers.

The key words above are “highest rate of membership.” Yup, these are the people who think they should tell us how to live our lives. These are the clowns who think they can spend our money better than we can. These are the buffoons who want to direct and control the private economy.

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It’s not often that I disagree with the folks who put together the Wall Street Journal editorial page. For instance, they just published a great editorial on that cesspool of cronyism and corruption that is otherwise known as the Export-Import Bank.

Isn’t it great that the voice of capitalism actually supports genuine free markets!

That being said, a recent editorial rubs me the wrong way.

It’s about the presumably quixotic presidential campaign of Senator Bernie Sanders. These excerpts will give you a flavor of what the WSJ wrote.

Vermont Senator Bernie Sanders, an avowed independent Socialist, has decided to run for the Democratic presidential nomination… He thinks the American economy is fundamentally unfair, and that government must tax and spend even more heavily… He thinks Social Security should increase benefits, no matter that it is heading toward insolvency. Higher taxes can make up the difference. …He wants single-payer health care, though his own state gave up the experiment as too expensive.

So what’s my disagreement?

I realize I’m being a nit-picker, but I don’t like the fact that the WSJ editorial is entitled “An Honest Socialist.”

My gripe is that Sanders isn’t honest. A genuine socialist believes in government ownership of the means of production. In other words, nationalized factories, government-run businesses, and collective farms. If Sanders believes in these policies, he’s remarkably reluctant to share his perspective.

In reality, Sanders is like Obama. You can call him a statist, a corporatist, or even (as Tom Sowell correctly notes) a fascist.

In other words, lots of redistribution and lots of back-door government control of the private sector, but not a lot of People’s Factory #58 or People’s Farm #91.

Though it is true that Sanders wants the government to directly run the healthcare system (akin to the horrifying U.K. approach), but at most that means he’s a “partial socialist” (or, to modify the WSJ‘s title, a “mostly dishonest socialist”).

Moreover, he doesn’t bring anything new to the presidential race, at least from a policy perspective.

There’s only a trivially small difference, for instance, between Hillary Clinton’s lifetime rating of 10.6 from the National Taxpayers Union and Bernie Sanders’ lifetime rating of 9.4. They both earned their failing grades by spending other people’s money with reckless abandon.

Though it’s worth noting that both Clinton and Sanders are “more frugal” than Barack Obama, who earned a lifetime rating of 9.0. I guess this is why the phrase “damning with faint praise” was invented.

The only difference between Hillary, Obama, and Sanders is tone. Here’s some of what Charles Cooke wrote for National Review.

Sanders does not play games with words…he steadfastly refuses to pretend that he represents moderation. …Sanders is to public policy and professional politicking what Joe Biden is to personality. He is open, blunt, unapologetic, compelling, ready to debate.

Which is in stark contrast to Hillary Clinton’s pabulum.

…the Democratic primary is being dominated by a corrupt, controlling, soulless, cynical, entitled, and mostly synthetic avatar named Hillary Clinton, and, in consequence, it is almost entirely devoid of ideas. …Hillary and her team stick to meaningless and saccharine banalities, almost all of which, one presumes, have been poll-tested within a fraction of an inch. …At no time does she stake out a vision. At no time does she adopt a controversial or momentous position. Instead, she hides behind corporately assembled strings of mawkish, semi-literate tosh.

So the difference between Clinton and Sanders is that he’s proud of his statism and she wants to hide her radical agenda.

But it doesn’t matter what they say or what they call themselves, the bottom line is that their policies are destructive, both economically and morally.

P.S. Since Senator Sanders is from Vermont, it’s both amusing and ironic that the Green Mountain State’s government-run healthcare system self destructed.

P.P.S. Since we’re on the topic of socialism, it’s worth pointing out that Jesus wasn’t in that camp. Though I’m not sure we can say the same thing about the Pope.

P.P.P.S. Heck, Jesus may have been a libertarian.

P.P.P.P.S. If you like socialism humor, click here, here, and here.

P.P.P.P.P.S. Switching to another topic (and one where there’s zero humor), you may remember that I wrote a few days ago about the horror of so-called civil asset forfeiture.

This happens when the government arbitrarily seizes your money and/or property without convicting you of a crime. Or even without charging you with a crime.

Well, here’s a video from the Institute for Justice about a new tragic example of theft by government.

If this doesn’t get you angry, you probably need counseling. This story reminds me of the Michigan family that was similarly victimized.

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Looking through my archives, Hillary Clinton rarely has been the target of political humor. I did share a quiz last year that definitely had a snarky tone, but the main goal was to expose her extremist views.

Similarly, I mocked both her and her husband that same year for plotting to minimize their tax burden, but I was simply calling attention to their gross hypocrisy.

The only pure Hillary-focused humor I could find was from 2012 and it wasn’t exactly hard hitting.

Well, it’s time to correct this oversight. Thanks to the bubbling email scandal, we have lots of material to share.

Let’s start with a video from the clever folks at Reason TV.

Needless to say, cartoonists also have had lots of fun with the former Secretary of State’s dodgy behavior.

Here’s Steve Kelley’s contribution.

And here’s how Dana Summers assessed the situation.

And Ken Catalino reminds us that Email-gate is just the tip of the iceberg when looking at Hillary scandals.

And since we’re have some fun with Mrs. Clinton, here’s someone’s clever photoshop exercise, calling attention to her habit of extorting huge payments for platitude-filled speeches.

And here’s a bit of humor that has a PG-13 rating, so in keeping with my tradition, it’s minimized so only folks who enjoy such humor will go through the trouble of clicking on the icon. The rest of you can continue below.

P.S. Hillary Clinton is portrayed as the “establishment candidate” for the Democrats. Some people interpret that to mean she’s a moderate, particularly when compared to a fraudster like Elizabeth Warren. But if you check out these statements, you’ll see that she’s a hard-core statist on economic issues. Indeed, there’s every reason to think she’s as far to the left as Obama.

P.P.S. Bill Clinton, by contrast, did govern from the center.

Sure, his reasonable (and in some cases admirable) track record almost certainly was a result – at least in part – of having a GOP Congress, but you’ll notice that Obama hasn’t moderated since GOPers took control on Capitol Hill.

For more evidence, check out this interesting (albeit complex) graph put together by Professor Steve Hanke. You’ll notice that Bill Clinton’s pro-market record generated results similar to what Reagan achieved (and Michael Ramirez makes the same point in this cartoon).

Needless to say, I fear that Hillary Clinton would be more like Obama and less like her husband.

P.P.P.S. In addition to his decent performance in office, Bill Clinton also has been the source of lots of enjoyable humor. You can enjoy my favorites by clicking here, here, here, here, here, and here.

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I actually have a perverse fondness for Bill Clinton.

This is both because we got better policy while he was President (whether he deserves credit is a separate question) and because he single-handedly generated a lot of quality political humor.

But that doesn’t mean he isn’t a typical politician. And the same is true for his wife.

Indeed, they are strong candidates for the Hypocrisy-in-Government Award.

That’s because they want to subject other people to the death tax, but they’re taking aggressive steps to make sure they aren’t subject to this punitive and immoral form of double taxation.

Here’s some of what Bloomberg is reporting on the issue.

Bill and Hillary Clinton have long supported an estate tax… That doesn’t mean they want to pay it. To reduce the tax pinch, the Clintons are using financial planning strategies befitting the top 1 percent of U.S. households in wealth. These moves, common among multimillionaires, will help shield some of their estate from the tax that now tops out at 40 percent of assets upon death. The Clintons created residence trusts in 2010 and shifted ownership of their New York house into them in 2011, according to federal financial disclosures and local property records.

But you have to give the Clintons credit for chutzpah.

They have tens of millions of dollars in assets, but Hillary said they were “dead broke.”

The Clintons’ finances are receiving attention as Hillary Clinton tours the country promoting her book, “Hard Choices.” She said in an interview on ABC television that the couple was “dead broke” and in debt when they left the White House in early 2001. …The Clintons’ finances are receiving attention as Hillary Clinton tours the country promoting her book, “Hard Choices.” She said in an interview on ABC television that the couple was “dead broke” and in debt when they left the White House in early 2001. …Since she left the government last year, Hillary Clinton, 66, has been giving speeches for hundreds of thousands of dollars each. Bill Clinton, 67, also makes paid speeches and appearances, receiving $200,000 each in October 2012 from Vanguard Group Inc. and Deutsche Bank AG, according to Hillary Clinton’s disclosures.

Geesh, I wish I was “dead broke” the same way.

Political cartoonists certainly aren’t impressed. Here’s Gary Varvel’s take on the topic.

Michael Ramirez, winner of my cartoon contest, also is unimpressed.

By the way, Hillary was quoted in the Bloomberg story as being in favor of a meritocracy.

Which makes you wonder whether she opposed the special sweetheart deal that her daughter received to work at NBC News.

Chelsea Clinton earned an annual salary of $600,000 at NBC News before switching to a month-to-month contract earlier this year, sources with knowledge of the agreement told POLITICO. …As special correspondent, Clinton worked on service-related feature assignments for NBC’s “Rock Center with Brian Williams” until the show’s cancellation in June 2013. Clinton has since worked on packages for NBC Nightly News. …When Clinton joined NBC, many media critics chafed at the network’s decision to employ a former first daughter with no experience in journalism. The New York Post referred to Clinton as “just another spoiled, aimless child of rich, successful parents chauffeured through adulthood by Mommy and Daddy’s connections.”

I have nothing against parents helping their kids and using their connections. I surely would help my kids if I had any influence in a hiring or pay decision.

But this smells of cronyism. Let’s not forget that NBC is owned by General Electric, and GE is infamous for getting in bad with politicians in exchange for handouts and subsidies.

In other words, it’s quite likely that Chelsea was given an extremely lucrative contract precisely because the company figured it was a good way of earning some chits with the then-Secretary of State and possible future President.

I’m not aware of any smoking gun to confirm my suspicion, but it would take heroic naiveté to assume that Chelsea’s parents had nothing to do with NBC’s decisions.

So, for their hypocrisy on both the death tax and meritocracy, the Clinton’s could win the Hypocrisy Award.

But there are plenty of other worthy candidates.

Such as the Paris-based Organization for Economic Cooperation and Development, which advocates higher tax for everyone else while providing gold-plated tax-free salaries and benefits to its own employees.

Such as the leftist political types who say tax havens are bad and immoral while simultaneously utilizing these low-tax jurisdictions to protect and grow their own wealth.

Such as the politicians and congressional staffers who decided to coerce others into Obamacare while seeking special exemptions for themselves.

Such as the rich leftists who advocate higher taxes for other people even though they refuse to send more of their own money to Washington.

Such as Prince Charles of the United Kingdom, who preaches coerced sacrifice for ordinary people even though his “carbon footprint” would be in the top 1 percent.

Such as the statists who fight against school choice for poor families while sending their own kids to pricey private schools for the elite.

Such as the Canadian politician who supports government-run healthcare for his constituents but comes to America for private treatment when he’s sick.

As you can see, the Clintons face some very tough competition.

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Two years ago, there was a flurry of excitement because some guy named Rex Nutting crunched annual budget numbers and concluded that Barack Obama was the most fiscally conservative President since at least 1980.

I looked at the data and found a few mistakes, such as a failure to adjust the numbers for inflation, but Nutting’s overall premise was reasonably accurate.

As you can see from the tables I prepared back in 2012, Obama was the third most frugal President based on the growth of total inflation-adjusted spending.

And he was in first place if you looked at primary spending, which is total spending after removing net interest payments (a reasonable step since Presidents can’t really be blamed for interest payments on the debt accrued by their predecessors).

So does this mean Obama is a closet conservative, as my old – but misguided – buddy Bruce Bartlett asserted?

Not exactly. A few days after that post, I did some more calculations and explained that Obama was the undeserved beneficiary of the quirky way that bailouts and related items are measured in the budget.

It turns out that Obama supposed frugality is largely the result of how TARP is measured in the federal budget. To put it simply, TARP pushed spending up in Bush’s final fiscal year (FY2009, which began October 1, 2008) and then repayments from the banks (which count as “negative spending”) artificially reduced spending in subsequent years.

So I removed TARP, deposit insurance, and other bailout-related items, on the assumption that such one-time costs distort the real record of various Administrations.

And that left me with a new set of numbers, based on primary spending minus bailouts. And on this basis, Obama’s record is not exactly praiseworthy.

Instead of being the most frugal President, he suddenly dropped way down in the rankings, beating only Lyndon Baines Johnson.

Which explains why I accused him in 2012 of being a big spender – just like his predecessor.

But the analysis I did two years ago was based on Obama’s record for his first three fiscal years.

So I updated the numbers last year and looked at Obama’s record over his first four years. And it turns out that Obama did much better if you look at the average annual growth of primary spending minus bailouts. Instead of being near the bottom, he was in the middle of the pack.

Did this mean Obama moved to the right?

That’s a judgement call. For what it’s worth, I suspect that Obama’s ideology didn’t change and the better numbers were the result of the Tea Party and sequestration.

But I don’t care who gets credit. I’m just happy that spending didn’t grow as fast.

2014 Spending TotalI’m giving all this background because I’ve finally cranked the most-recent numbers.  And if we look at overall average spending growth for Obama’s first five years and compare that number to average spending growth for other Presidents, he is the most frugal. Adjusted for inflation, the budget hasn’t grown at all. That’s a very admirable outcome.

But what about primary spending? By that measure, we have even better results. 2014 Spending PrimaryThere’s actually been a slight downward trend in the fiscal burden of government during the Obama years.

This doesn’t necessarily mean, to be sure, that Obama deserves credit. Maybe the recent spending restraint in Washington is because of what’s happened in Congress.

I’ve repeatedly argued, for instance, that sequestration was a great victory over the special interests. And Obama vociferously opposed those automatic budget cuts, even to the point of making himself a laughingstock.

But don’t forget that TARP-type expenses can mask important underlying trends. So now let’s look at the numbers that I think are most illuminating. 2014 Spending Primary Minus BailoutsHere’s the data for average inflation-adjusted growth of primary spending minus bailouts.

As you can see, Obama no longer is in first place. But he’s jumped to third place in this category, which is an improvement over prior years and puts him ahead of every Republican other than Reagan. Given that all those other GOPers were statists, that’s not saying much, but it does highlight that party labels don’t necessarily mean much.

My Republican friends are probably getting irritated, so I’ll share one last set of numbers that may make them happy.

I cranked the numbers for average spending growth, but subtracted interest payments, bailouts, and defense outlays. What’s left is domestic spending, and here are the rankings based on those numbers.

2014 Spending Primary - Defense - Bailouts

Reagan easily did the best job of restraining overall domestic discretionary and entitlement outlays. Bill Clinton came in second place, showing that Democrats can preside over reasonably good results. And Richard Nixon came in last place, showing that Republicans can preside over horrible numbers.

Obama, meanwhile, winds up in the middle of the pack. Which is probably very disappointing for the President since he wanted to be a transformational figure who pushed the nation to the left, in the same way that Reagan was a transformational figure who pushed the nation to the right.

Instead, Obama’s only two legacies may turn out to be a failed healthcare plan and a tongue-in-cheek award for being a great recruiter for the cause of libertarianism.

P.S. Historical numbers sometimes change slightly because the government’s data folks massage and re-measure both inflation and spending. Though I confess I’m not sure why the 2013 calculation for Nixon’s primary spending minus bailouts is somewhat different from the 2012 and 2014 numbers. Perhaps I screwed up when copying some of the numbers, which has been known to happen. But since Nixon’s performance isn’t the focus of this post, I’m not going to lose any sleep about the discrepancy.

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Time for some weekend humor.

A friend sent me an example of three naval ships.

The first is an aircraft carrier named after Ronald Reagan.

Regular readers know I’m a big fan of the Gipper, and I’ve shared several inspirational Reagan videos (see here, here, and here). So I’m understandably appreciative of the USS Reagan.

SS Reagan

Next, we have a ship named after Bill Clinton.

We’re obviously entering make-believe territory, and I would have preferred this joke to target Jimmy Carter because Clinton actually turned out to be a pretty good President. Or, to be more precise, we got reasonably good policy during the Clinton years.

In any event, I can certainly see the humor in this image.

Though I’m surprised there isn’t a reference to coed bunks.

Or interns.

Or cigars.

Or…well, you get the point.

SS Clinton

By the way, if you like Bill Clinton humor, you can enjoy my favorites by clicking here, here, here, here, and here.

Last but not least, we have a new naval vessel that captures the Obama Administration.

SS Obama

I’m surprised there’s not also a reference to a website, but maybe this set of images was put together before the cluster-you-know-what of Obamacare.

To close, let’s share some more Obama mockery. We have this t-shirt, this Pennsylvania joke, this Reagan-Obama comparison, this Wyoming joke, this Bush-Obama comparison, this video satire, and this bumper sticker.

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I’ve always had a soft spot in my heart for Bill Clinton. In part, that’s because economic freedom increased and the burden of government spending was reduced during his time in office.

Partisans can argue whether Clinton actually deserves the credit for these good results, but I’m just happy we got better policy. Heck, Clinton was a lot more akin to Reagan that Obama, as this Michael Ramirez cartoon suggests.

Moreover, Clinton also has been the source of some very good political humor, some of which you can enjoy here, here, here, here, and here.

Most recently, he even made some constructive comments about corporate taxation and fiscal sovereignty.

Here are the relevant excerpts from a report in the Irish Examiner.

It is up to the US government to reform the country’s corporate tax system because the international trend is moving to the Irish model of low corporate rate with the burden on consumption taxes, said the former US president Bill Clinton. Moreover, …he said. “Ireland has the right to set whatever taxes you want.” …The international average is now 23% but the US tax rate has not changed. “…We need to reform our corporate tax rate, not to the same level as Ireland but it needs to come down.”

Kudos to Clinton for saying America’s corporate tax rate “needs to come down,” though you could say that’s the understatement of the year. The United States has the highest corporate tax rate among the 30-plus nations in the industrialized world. And we rank even worse – 94th out of 100 countries according to a couple of German economists – when you look at details of how corporate income is calculated.

And I applaud anyone who supports the right of low-tax nations to have competitive tax policy. This is a real issue in Europe. I noted back in 2010 that, “The European Commission originally wanted to require a minimum corporate tax rate of 45 percent. And as recently as 1992, there was an effort to require a minimum corporate tax rate of 30 percent.” And the pressure remains today, with Germany wanting to coerce Ireland into hiking its corporate rate and the OECD pushing to undermine Ireland’s corporate tax system.

All that being said – and before anyone accuses me of having a man-crush on Bill and/or of being delusional – let me now issue some very important caveats.

When Clinton says we should increase “the burden on consumption taxes,” that almost surely means he would like to see a value-added tax.

This would be a terrible idea, even if at first the revenue was used to finance a lower corporate tax rate. Simply stated, it would just be a matter of time before the politicians figured out how to use the VAT as a money machine to finance bigger government.

Indeed, it’s no coincidence that the welfare state in Europe exploded in the late 1960s/early 1970s, which was also the time when the VAT was being implemented. And it’s also worth noting that VAT rates in recent years have jumped significantly in both Europe and Japan.

Moreover, Clinton’s position on fiscal sovereignty has been very weak in the past. It was during his tenure, after all, that the OECD – with active support from the Clinton Treasury Department – launched its “harmful tax competition” attack against so-called tax havens.

In other words, he still has a long way to go if he wants to become an Adjunct Fellow at the Cato Institute.

P.S. Just in case anyone want to claim that the 1993 Clinton tax hike deserves credit for any of the good things that happened in the 1990s, look at this evidence before embarrassing yourself.

P.P.S. There’s very little reason to think that Hillary Clinton would be another Bill Clinton.

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