The late management guru Peter Drucker noted decades ago that the notion of tax “loopholes” implies that government is the primary claimant to the entirety of its citizens’ income. The government’s claim is rendered less than absolute in practice only by glitches (intended or otherwise) in the tax code. Enter now, stage left, the...
Read More »

President Obama’s commitment to use the compulsions of regulation, tax policy, and individual mandates to “spread the wealth” prompts thinking men and women of good virtue to wonder anew whether Karl Marx and his acolytes were right about communism’s inevitability. Economic theory predicts that collectivist policies of the sort now being advanced are inherently...
Read More »