Taxation

What’s Wrong with Looting? It’s the American Way!

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Responding to the massive looting committed by Iraqis as part of their newly found “freedom,” Secretary of Defense Donald Rumsfeld observed, “Stuff happens. It’s untidy. And freedom’s untidy. And free people are free to make mistakes and commit crimes and do bad things.” The reason for his indifference is simple: ... [click for more]

Taxing Dividends: Once Is Not Enough?

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Why is it controversial to propose an end to double taxation? The centerpiece of President Bush’s economic package is elimination of the tax on dividends. No one disputes that this is a double tax. A corporation pays taxes on its profits. Then if it distributes the after-tax profits ... [click for more]

Tax-Cut Alchemy

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In the midst of massive increases in federal spending and an enormous budget deficit, President Bush has proposed a large reduction in federal taxes. How’s that for political magic — lower taxes and more benefits? Unfortunately, however, it’s not ... [click for more]

Mr. Bush Neglects the Constitution

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It isn’t entirely encouraging that the top man of the political party theoretically dedicated to the Constitution, limited government, and individual liberty thinks the government he runs should cure AIDS in Africa, create a hydrogen-powered car, pay for retirees’ medicine, and provide mentors to troubled kids. Ominously, President Bush’s state ... [click for more]

Sic the IRS on Saddam

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President Bush made a grievous mistake by relying on a UN weapons report to go after Saddam Hussein. He should have instead required Saddam to file a federal income-tax return. It would have been a much more effective and less costly way to get rid of the man. Look at the ... [click for more]

Corporate Inversions and the Tax State

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Before I accepted my present position as a professor of economics at Hillsdale College in 1988, I negotiated my salary with the academic dean responsible for hiring new faculty. At that time I was teaching at the University of Dallas in Texas. Now, a move to Hillsdale was definitely attractive to me. They were offering me an endowed position ... [click for more]

Repeal the Corporate Tax

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Why not repeal the corporate income tax? Everyone’s worried about falling stock values, so let’s remove one of the big burdens on corporate profits: the corporate income tax. We shouldn’t do this as a short-term quick fix. The repeal should be permanent. What? you’re saying. Let those dirty corporations get ... [click for more]

Freedom, the Income Tax, and the Welfare State

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Americans have come to believe that the IRS and the income tax are inevitable parts of our lives. After all, most everyone alive today has lived his entire life under federal income taxation. It wasn’t always that way. For some 125 years, the American people lived without having any tax imposed upon their income. The obvious question that arises is: Why ... [click for more]

Fiscal Force

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“I know ev’rybody’s income and what ev’rybody earns; And I carefully compare it with the income-tax returns;” — W.S. Gilbert, Princess Ida April is the cruelest month, for reasons other than what T.S. Eliot had in mind. This is the month in which you must account for yourself to Caesar. The ... [click for more]

Wrong Rights

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BRACE YOURSELF. We are about to witness the launch of a global movement to establish economic and social rights on a par with human rights. In other words, say the organizers of this movement, the right to food and health care is as legitimate as the right not to be tortured by ones government. (See The Economist, August 16.) A ... [click for more]

Bad Tax Bill

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We’ve been had. By a Bush. Again. The tax cut is a joke. After all the blather about how the surplus belongs to us, not the government, the resulting tax-cut bill is minuscule, ultra-gradual, and now scheduled to expire in 10 years! Republican and Democrat members of Congress, ... [click for more]

Wrong Way to Go

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We’ve been had. By a Bush. Again. The tax cut is a joke. After all the blather about how the surplus belongs to us, not the government, the resulting tax-cut bill is minuscule, ultra-gradual, and now scheduled to expire in 10 years! Republican and Democrat members of Congress, ... [click for more]
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