The Laffer Curve is a theory developed by supply-side economist Arthur Laffer to show the relationship between tax rates and the amount of tax revenue collected by governments. An economist, Mr. Laffer first gained prominence by serving on Ronald Reagan’s Economic Policy Advisory Board from 1981–89. The Curve was, and still is, used to illustrate … More The Laffer Curve
Nirvana is a transcendent state in which there is neither suffering, desire, nor sense of self, and the subject is released from the effects of karma and the cycle of death and rebirth. It represents the final goal of Buddhism. It has been purported that lowering current taxes paid by U.S. corporations, among other things, … More Debunking the Nirvana of Corporate Tax Cuts
There is a great animated movie, A Bug’s Life, which tells the story of a hard-working group of oppressed Ants and their oppressive “leaders”, the Grasshoppers. From time eternal, the Ants work hard every year growing food but when it comes time for the harvest they must set aside a substantial offering for the Grasshoppers … More Crowding Out
A charlatan is defined as a person falsely claiming to have a special knowledge or skill; a fraud. Synonyms? Quack, sham, impostor, hoaxer, cheat, deceiver, double-dealer, swindler. Take your pick in describing Commerce nominee Wilbur Ross. Mr. Ross is claiming that he, and his soon-to-be new boss, President-elect Trump, are, by edict, going to bring prosperity … More Rise of the Fair Trade Charlatans
Do you live in the United States? Do you pay federal taxes? I realize that excludes many Americans so if you don’t, you can move along, nothing to see here. If you do, you may be interested in what one particular federal government agency, Congress and private unions are planning. Spoiler alert, this one might sting … More PBGC: Government In the Insurance Business…This Can’t Be Good!
President-elect Trump has made several references to and has called out a number of US companies using threats of, “paying a tax at the border if you want to sell your goods in the United States”. This is certainly a new take on the fallacious, centuries old, theory that prosperity can be achieved through forcing … More The Border-Adjusted Tax: War!
Today, we are revisiting the topic of “UBI”, or Universal Basic Income (see my prior post, The Basic Income Guarantee of Failure). The push behind UBI is nothing short of spectacular in size and scope. A search of UBI, not a “new” idea, will list enough results to keep you reading for a while, and … More UBI Revisited