The President says he wants the wealthy to pay their fair share. What would that be? He never says. How would one decide whether a given level of taxation is fair? He never says. Neither do his supporters, who are remarkably calalier about the theoretical foundations of their policy positions. Let’s start by asking, Who pays how much now? And let’s consider not just federal … Continue reading Tax Fairness
Obama and the Democrats have been spending money like there’s no tomorrow, sinking the country deeper into debt than we’ve ever been before. Moreover, we’re getting nothing for our money. At least the New Deal gave us the San Antonio Riverwalk. The U.S. has already been downgraded, and is bound to be downgraded again if Obama is reelected. Can’t Democrats do math? Don’t they realize … Continue reading Letting the VAT Out of the Bag
Megan McArdle points out that the income share of the top 1% has declined sharply in the past couple of years: This isn’t surprising. Income inequality increases whenever the economy improves; it decreases during recessions. There is only one known way to decrease inequality—and it’s plainly undesirable. What about the 1940s and 1950s? Liberals are looking back at those decades fondly. They seem to have … Continue reading The Income of the Top 1%
Spain’s Popular Party has proposed that women receive tax breaks for… being women! Since parties to its left are likely to pile on board, Spain will soon have a tax system that discriminates on the basis of gender. There’s a radical feminist argument for this, but there’s also a utilitarian argument based on the Ramsey taxation principle: If the demand or supply of something is … Continue reading Should men pay higher taxes than women?