Search Results for: ‘arthur laffer dan mitchell’

Dan Mitchell: The Adverse Economic Consequences of Busting Social Security’s Wage Base Cap

I The Adverse Economic Consequences of Busting Social Security’s Wage Base Cap Today we are going to look at proposals to expandthe burden of Social Security payroll taxes, and let’s start by recycling this 2008 video. All of the analysis in the video is still accurate, but two of the numbers need to be updated. […]

Dan Mitchell: All savings should be protected from double taxation, not just what you set aside for retirement. And that means government can tax you one time, either when you first earn the income or when you consume the income!

Protecting Individual Savings from Double Taxation While speaking last year in Hawaii on the topic of good tax policy, I explained why it is misguided to impose extra layers of tax on saving and investment. Regarding the problem of double taxation, I’ve addressed how various features of the tax code need to be fixed. Get […]

Dan Mitchell: I’m a big fan of tax competition!

– Another Victory for Tax Competition   I’m a big fan of tax competition. Why? Because politicians are far more likely to keep tax rates low when they are afraid that jobs and investment can move to countries (or states) with better tax system. It also explains why tax rates fell dramatically around the world […]

Dan Mitchell: The Unavoidable Choice: Entitlement Reform or Massive Middle-Class Tax Increases

– The Unavoidable Choice: Entitlement Reform or Massive Middle-Class Tax Increases I worry about big tax increases because of America’s grim long-run fiscal outlook. The video clip is less than two minutes (taken from this longer discussion with Fergus Hodgson), but I can summarize my key point in just one very important sentence Anybody who […]

Dan Mitchell comments on surprising quote from NY Mayor Eric Adams “To continually attack high income earners when 51% of our taxes are paid by 2% of New Yorkers — this blows my mind when I hear people say ‘so what if they leave.’ No you leave! I want my high income earners right here in this city!”

    – An Overdue Wake-Up Call for New York Democrats?   The economic outlook in New York (both the stateand the city) has been very depressing in recent years. New York is ranked #50 in the Economic Freedom of North America. New York is ranked #48 in the State Business Tax Climate Index. New York is ranked #50 in the Freedom in the […]

Dan Mitchell: The Laffer Curve helps to illustrate that excessive tax rates result in less taxable activity.

– Defending the (Prudent Understanding of the) Laffer Curve   I’ve written dozens of articles about the Laffer Curveand most of that verbiage can be summarized in these five points. The Laffer Curve helps to illustrate that excessive tax rates result in less taxable activity. All public finance economists – even those on the left […]

Dan Mitchell: The great Milton Friedman repeatedly explained that rising prices are an inevitable consequence of easy-money policies by central banks!

——- Central Bankers Dodging Blame The great Milton Friedman repeatedly explained that rising prices are an inevitable consequence of easy-money policies by central banks. That’s a lesson everyone should have learned about 50 years ago when the Federal Reserve unleashed the inflation in the 1960s and 1970s (also blame Lyndon Johnson and Richard Nixon for […]

Dan Mitchell: Republican Warfare, Part III: National Conservatism and Massive Tax Increases

– — Republican Warfare, Part III: National Conservatism and Massive Tax Increases In yesterday’s column, I explained Republicans are not credible advocates of lower tax rates if they don’t also push for spending restraint. And, as I explained to the Adam Smith Institute, they will be de facto advocates of higher taxes if they embrace the […]

Dan Mitchell: Republican Warfare, Part II: Supply-Side Economics and Government Spending

– Republican Warfare, Part II: Supply-Side Economics and Government Spending As part of a recent discussion at the Adam Smith Institute in London, I explained why advocates of sensible taxation in the U.S. and U.K. need to be serious about controlling government spending. At the risk of stating the obvious, it will be almost impossible […]

Dan Mitchell: In cases where taxpayers have a lot of control over the timing, level, and composition of their income, changes in tax rates may cause big changes in taxable income (or “tax base” in the jargon of economists)!

– The IMF, the Laffer Curve, and Supply-Side Economics The Laffer Curve is a very straightforward concept. It graphically illustrates why politicians are wrong if they think you can double tax revenue by doubling tax rates (or that revenues will drop by 50 percentif tax rates are cut in half). Simply stated, you also have […]