Tag: Budget and Tax Policy

The Ex-Im Bank Redux »

Adam Smith, the first and still best of all of the world’s economists and moral philosophers, once wrote in opposition to all systems of “preference and restraint”. That lesson is lost on most politicians and all special pleaders who support re-authorization of the taxpayer-financed Export-Import Bank, whose funding is once again set to expire…
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Florida’s Financial Health Care Follies, and a Problem with a Part-Time Legislature »

The one constitutional responsibility of Florida’s legislature is to pass a budget — something Florida’s solidly Republican House and Senate could not do by the end of their regular legislative session. The big issue that divided them was how to deal with the Affordable Care Act’s mandates. Here’s the issue. Florida has been receiving…
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Competition and Cooperation »

Competition is often used to describe market activity, and cooperation is often used to describe political activity, but competition more accurately describes politics and cooperation more accurately describes markets. Market activity is based on voluntary exchange, and transactions take place only if all parties agree. Parties engage in voluntary exchange for their mutual benefit,…
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Tax Freedom Day, 2015 »

The Tax Foundation announces “Tax Freedom Day” every year to mark the date on which the average U.S. taxpayer has earned enough income to pay in full all federal, state and local taxes owed. The date this year is today, Friday, April 24, 2015. “Tax Freedom Day” is determined by taking the ratio of…
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Barack Obama Has the Last Word on the Medicare “Doc Fix” »

On April 15, President Obama signed the so-called Medicare “doc fix,” a bill that I previously warned would recruit Republicans onto Obamacare’s B-Team. I had also hoped that they would reject the bill, especially after Medicare’s Chief Actuary delivered an even harsher verdict on its consequences than the Congressional Budget Office had. Unfortunately, massive…
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Two Reasons to Pay Off Public-Employee Pension Debt Quickly »

In a recent op-ed in the Wall Street Journal titled “Pension Reform Doesn’t Mean Higher Taxes,” Andrew Biggs correctly pointed out that new Governmental Accounting Standards Board (GASB) rules require state and local governments across America to be more transparent about the financial health of their public-pension plans. But, as he noted, the rules…
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Government Union Boss Apparently Equates Valuing Work with Taxpayer Shakedowns »

On the heels of the worst jobs report in over a year, Watchdog.org’s Jason Hart reports that Americans “are footing the bill for six-figure government union pay.” As Hart explains: Taxes siphoned by American Federation of State, County and Municipal Employees let the union pay its staff and officers an average of $103,623 last year….
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More Bad News about the Medicare Doc Fix »

Opposition to the outrageous so-called Medicare doc fix bill, which will increase the federal deficit by $141 billion, is growing. Michael Cannon of the Cato Institute explains how this will “bust the budget.” My Forbes editor, Avik Roy, pleads that the Senate stop this monstrosity (which passed the House by a huge majority). On…
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How Big Is Government in the United States? »

How big is government in the United States? The answer depends on the concept used to define its size. Although many such concepts are available, and several are used from time to time, by far the most common measure, especially in studies by economists, is total government spending (G) as a percentage of the…
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The Costs and Benefits of Ethanol »

Here’s a back-of-the-envelope calculation on how much the mandate to require ethanol in motor fuel costs consumers, and benefits farmers. This article notes that in 2000 about 5% of the corn crop went to the production of ethanol, and by 2013, 40% of the corn crop was devoted to ethanol production. The increased demand…
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  • MyGovCost.org
  • FDAReview.org
  • OnPower.org
  • elindependent.org