Category Archives: Economist Dan Mitchell

Subsidizing clean coal is stupid!!!

Dan Mitchell and Chris Edwards Discussing the Debt Limit, Government Shutdown, 

Subsidizing clean coal is stupid!!!

October 15, 2013 2:28PM

Clean Coal Subsidies

The federal government has been subsidizing so-called clean coal for decades, and the hand-outs have resulted in one bipartisan boondoggle after another. 

Under Presidents Jimmy Carter and Ronald Reagan, for example, the government pumped $2 billion into the Synthetic Fuels Corporation, which supported efforts to convert coal into a gas fuel. The SFC collapsed in the mid-1980s in a spasm of gross mismanagement, conflicts of interest, and changing market conditions. 

Unfortunately, the government never seems to learn any lessons from the silliness of its energy subsidies. The latest installment of the long-running clean coal scam was highlighted by the Wall Street Journal yesterday: 

For decades, the federal government has touted a bright future for nonpolluting power plants fueled by coal. But in this rural corner of eastern Mississippi, the reality of so-called clean coal isn’t pretty. 

Mississippi Power Co.’s Kemper County plant here, meant to showcase technology for generating clean electricity from low-quality coal, ranks as one of the most expensive U.S. fossil-fuel projects ever—at $4.7 billion and rising. Mississippi Power’s 186,000 customers, who live in one of the poorest regions of the country, are reeling at double-digit rate increases. And even Mississippi Power’s parent, Atlanta-based Southern Co., has said Kemper shouldn’t be used as a nationwide model. 

One of just three clean-coal plants moving ahead in the U.S., Kemper has been such a calamity for Southern that the power industry and Wall Street analysts say other utilities aren’t likely to take on similar projects, even though the federal government plans to offer financial incentives.

Southern recently took $990 million in charges for cost overruns approaching $2 billion.

*** 

Through various subsidies, the federal government had committed nearly $700 million for the Mississippi Power plant, though part of that was the $133 million that the utility will forfeit because of delays.

***

Kemper’s cost, previously projected at around $2.9 billion, soon began to soar. Southern recently estimated the price tag at $4.7 billion.

Related posts:

Open letter to President Obama (Part 432) A suggestion to cut some wasteful spending out of the government Part 2 (includes editorial cartoon)

(Emailed to White House on 3-15-13.) President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 Dear Mr. President, I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is […]

Dear Senator Pryor, here are some spending cut suggestions (“Thirsty Thursday”, Open letter to Senator Pryor)

Senator Pryor pictured below:  Why do I keep writing and email Senator Pryor suggestions on how to cut our budget? I gave him hundreds of ideas about how to cut spending and as far as I can tell he has taken none of my suggestions. You can find some of my suggestions here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here,  here, and  here, and they […]

Open letter to President Obama (Part 430) A suggestion to cut some wasteful spending out of the government Part 1 (includes editorial cartoon)

(Emailed to White House on 3-15-13.) President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 Dear Mr. President, I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is […]

The Dysfunction in Washington is Republicans and Democrats that are unwilling to cut spending in order to vote for more programs (Democrats want more food stamps etc but Republicans vote for their pet programs and wars too like No Child Left Behind Act, the Iraq war, the prescription drug entitlement, and the TARP bailout).

The Dysfunction in Washington is Republicans and Democrats that are unwilling to cut spending in order to vote for more programs (Democrats want more food stamps etc but Republicans vote for their pet programs and wars too like No Child Left Behind Act, the Iraq war, the prescription drug entitlement, and the TARP bailout). If […]

Dear Senator Pryor, here are some spending cut suggestions (“Thirsty Thursday”, Open letter to Senator Pryor)

Senator Pryor pictured below:  Why do I keep writing and email Senator Pryor suggestions on how to cut our budget? I gave him hundreds of ideas about how to cut spending and as far as I can tell he has taken none of my suggestions. You can find some of my suggestions here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here,  here, and  here, and they […]

If you want to cut wasteful spending then the disability program must be reformed radically!!!

If you want to cut wasteful spending then the disability program must be reformed radically!!! October 7, 2013 1:19PM 60 Minutes Disability Investigation By Chris Edwards Share The abuse and overspending in government disability programs is so bad that even National Public Radio and 60 Minutes have taken notice. On the heels of this excellent […]

If you really want to cut wasteful spending then why not shut down Dept of Housing and Urban Development, Dept of Education and SBA?

If you really want to cut wasteful spending then why not shut down Dept of Housing and Urban Development, Dept of Education and SBA? There are many other areas that should be cut but these should be shut down!!!   October 7, 2013 4:57PM Close Washington to Dismantle the Welfare-Warfare State By Doug Bandow Share […]

Dear Senator Pryor, here are some spending cut suggestions (“Thirsty Thursday”, Open letter to Senator Pryor)

Senator Pryor pictured below:  Why do I keep writing and email Senator Pryor suggestions on how to cut our budget? I gave him hundreds of ideas about how to cut spending and as far as I can tell he has taken none of my suggestions. You can find some of my suggestions here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here,  here, and  here, and they […]

We need to stop wasteful government spending by privatizing the post office!!

We need to stop wasteful government spending by privatizing the post office!! Postal Service Won’t Shut Down but Will Default on Its Debt James Gattuso October 1, 2013 at 9:30 am Newscom The U.S. Postal Service (USPS) defaulted on its debt last night. No, it has nothing to do with the partial shutdown of the […]

We need to stop the stupid spending by Bureaucrats!!!

We need to stop the stupid spending by Bureaucrats!!!   Bureaucrats Gone Wild: Government Spends Recklessly as Fiscal Year Ends Rob Bluey September 29, 2013 at 1:55 pm Credit: Tetra Images/Newscom Washington’s reckless spending is driving America into debt — and yet federal bureaucrats continue their wasteful and frivolous ways. The latest example comes courtesy […]

Cartoons from Dan Mitchell’s blog that demonstrate what overspending will do

I have put up lots of cartoons from Dan Mitchell’s blog before and they have got lots of hits before. Many of them have dealt with the economy, eternal unemployment benefits, socialism,  Greece,  welfare state or on gun control.

It is sad to see our federal government spend away our children’s future but when some of the states are doing that too then it is tragic. I wonder why the states that are in trouble are the ones that always voted for Obama for President? Do you see a trend?

I’ve recently become a fan of Lisa Benson’s cartoons (see here, here and here), and this may be her best piece of work.

My only quibble is that there should be an elephant somewhere on the wagon since Schwarzenegger also was a big spender.

I’m also a big fan of the work of Michael Ramirez work (see here, hereherehere,here, and here), and he has a new cartoon about Paul Ryan’s plan for Medicare reform.

What makes this cartoon especially biting is that Ryan’s current plan isn’t quite as good as the one he proposed last year, but that isn’t stopping demagogues from complaining.

Which raises a good issue. If you’re going to be viciously demagogued regardless of whether you solve 5 percent of a problem or 100 percent of a problem, why not go all the way?

Maybe I’ll call this “Mitchell’s Don’t-Cross-a-Canyon-in-Two-Leaps Principle,” to complement “Mitchell’s Law” and “Mitchell’s Golden Rule.”

Related posts:

Cartoons from Dan Mitchell’s blog that demonstrate what Obama is doing to our economy Part 2

Max Brantley is wrong about Tom Cotton’s accusation concerning the rise of welfare spending under President Obama. Actually welfare spending has been increasing for the last 12 years and Obama did nothing during his first four years to slow down the rate of increase of welfare spending. Rachel Sheffield of the Heritage Foundation has noted: […]

Cartoons from Dan Mitchell’s blog that demonstrate what Obama is doing to our economy Part 1

  I have put up lots of cartoons from Dan Mitchell’s blog before and they have got lots of hits before. Many of them have dealt with the economy, eternal unemployment benefits, socialism,  Greece,  welfare state or on gun control. I think Max Brantley of the Arkansas Times Blog was right to point out on 2-6-13 that Hillary […]

Great cartoon from Dan Mitchell’s blog on government moochers

I thought it was great when the Republican Congress and Bill Clinton put in welfare reform but now that has been done away with and no one has to work anymore it seems. In fact, over 40% of the USA is now on the government dole. What is going to happen when that figure gets over […]

Gun Control cartoon hits the internet

Again we have another shooting and the gun control bloggers are out again calling for more laws. I have written about this subject below  and on May 23, 2012, I even got a letter back from President Obama on the subject. Now some very interesting statistics below and a cartoon follows. (Since this just hit the […]

“You-Didn’t-Build-That” comment pictured in cartoons!!!

watch?v=llQUrko0Gqw] The federal government spends about 10% on roads and public goods but with the other money in the budget a lot of harm is done including excessive regulations on business. That makes Obama’s comment the other day look very silly. A Funny Look at Obama’s You-Didn’t-Build-That Comment July 28, 2012 by Dan Mitchell I made […]

Cartoons about Obama’s class warfare

I have written a lot about this in the past and sometimes you just have to sit back and laugh. Laughing at Obama’s Bumbling Class Warfare Agenda July 13, 2012 by Dan Mitchell We know that President Obama’s class-warfare agenda is bad economic policy. We know high tax rates undermine competitiveness. And we know tax increases […]

Cartoons on Obama’s budget math

Dan Mitchell Discussing Dishonest Budget Numbers with John Stossel Uploaded by danmitchellcato on Feb 11, 2012 No description available. ______________ Dan Mitchell of the Cato Institute has shown before how excessive spending at the federal level has increased in recent years. A Humorous Look at Obama’s Screwy Budget Math May 31, 2012 by Dan Mitchell I’ve […]

Funny cartoon from Dan Mitchell’s blog on Greece

Sometimes it is so crazy that you just have to laugh a little. The European Mess, Captured by a Cartoon June 22, 2012 by Dan Mitchell The self-inflicted economic crisis in Europe has generated some good humor, as you can see from these cartoons by Michael Ramirez and Chuck Asay. But for pure laughter, I don’t […]

Obama on creating jobs!!!!(Funny Cartoon)

Another great cartoon on President Obama’s efforts to create jobs!!! A Simple Lesson about Job Creation for Barack Obama December 7, 2011 by Dan Mitchell Even though leftist economists such as Paul Krugman and Larry Summers have admitted that unemployment insurance benefits are a recipe for more joblessness, the White House is arguing that Congress should […]

Get people off of government support and get them in the private market place!!!!(great cartoon too)

Dan Mitchell hits the nail on the head and sometimes it gets so sad that you just have to laugh at it like Conan does. In order to correct this mess we got to get people off of government support and get them in the private market place!!!! Chuck Asay’s New Cartoon Nicely Captures Mentality […]

2 cartoons illustrate the fate of socialism from the Cato Institute

Cato Institute scholar Dan Mitchell is right about Greece and the fate of socialism: Two Pictures that Perfectly Capture the Rise and Fall of the Welfare State July 15, 2011 by Dan Mitchell In my speeches, especially when talking about the fiscal crisis in Europe (or the future fiscal crisis in America), I often warn that […]

Cartoon demonstrates that guns deter criminals

John Stossel report “Myth: Gun Control Reduces Crime Sheriff Tommy Robinson tried what he called “Robinson roulette” from 1980 to 1984 in Central Arkansas where he would put some of his men in some stores in the back room with guns and the number of robberies in stores sank. I got this from Dan Mitchell’s […]

Gun control posters from Dan Mitchell’s blog Part 2

I have put up lots of cartons and posters from Dan Mitchell’s blog before and they have got lots of hits before. Many of them have dealt with the economy, eternal unemployment benefits, socialism,  Greece,  welfare state or on gun control. Amusing Gun Control Picture – Circa 1999 April 3, 2010 by Dan Mitchell Dug this gem out […]

We got to cut spending and stop raising the debt ceiling!!!

  We got to cut spending and stop raising the debt ceiling!!! When Governments Cut Spending Uploaded on Sep 28, 2011 Do governments ever cut spending? According to Dr. Stephen Davies, there are historical examples of government spending cuts in Canada, New Zealand, Sweden, and America. In these cases, despite popular belief, the government spending […]

Gun control posters from Dan Mitchell’s blog Part 1

I have put up lots of cartons and posters from Dan Mitchell’s blog before and they have got lots of hits before. Many of them have dealt with the economy, eternal unemployment benefits, socialism,  Greece,  welfare state or on gun control. On 2-6-13 the Arkansas Times Blogger “Sound Policy” suggested,  “All churches that wish to allow concealed […]

Taking on Ark Times bloggers on the issue of “gun control” (Part 3) “Did Hitler advocate gun control?”

Gun Free Zones???? Stalin and gun control On 1-31-13 ”Arkie” on the Arkansas Times Blog the following: “Remember that the biggest gun control advocate was Hitler and every other tyrant that every lived.” Except that under Hitler, Germany liberalized its gun control laws. __________ After reading the link  from Wikipedia that Arkie provided then I responded: […]

Taking on Ark Times bloggers on the issue of “gun control” (Part 2) “Did Hitler advocate gun control?”

On 1-31-13 I posted on the Arkansas Times Blog the following: I like the poster of the lady holding the rifle and next to her are these words: I am compensating for being smaller and weaker than more violent criminals. __________ Then I gave a link to this poster below: On 1-31-13 also I posted […]

Open letter to President Obama (Part 434) A suggestion to cut some wasteful spending out of the government Part 3 (includes editorial cartoon)

(Emailed to White House on 3-15-13.)

President Obama c/o The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500

Dear Mr. President,

I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is going on out here.

I know that you are looking at cutting spending in order to try and get deficit reduction. I am glad that you have that as your goal and I wanted to pass on a suggestion on where to cut spending.

What Can We Cut to Balance the Budget

Published on Oct 16, 2012

If the U.S. government cut all government services except Social Security, Medicare, Medicaid, and payments on the debt, federal spending would still outpace revenues. Prof. Antony Davies argues that there are not specific cuts that will enable government to balance the budget. He says, “Nothing less than a redesign will solve this problem.” That redesign should begin by determining what the proper role of government is.

__________________

We got to cut wasteful spending out of the government and here is another fine suggestion from the Heritage Foundation.

Todd Thurman

March 12, 2013 at 5:40 pm

Newscom

The massive spending bill, or continuing resolution, released by the Senate this week continues spending on programs which are inappropriate or wasteful and fails to adopt good policies in many areas. Here’s a rundown of some of the worst offenders in the Senate bill:

Energy. The Senate CR continues to fund a failed energy policy that empowers Washington bureaucrats instead of American families and businesses. Though it does cut some programs minimally, it does the equivalent of removing a used napkin from a full trash can. There’s much more waste that needs to be removed. For example, section 1203 reduces Department of Energy (DOE) funding by $44 million when more than $5.3 billion could be cut. The $44 million is equivalent to 0.8 percent of what should be cut.

Perhaps most egregious is the meager $11 million cut from the $1.8 billion request for Office of Energy Efficiency and Renewable Energy. In total, the DOE budget funds applied-research programs on conventional fuels, renewable energy sources, and nuclear energy that the private sector should be undertaking. American families and business are far better equipped than government to determine what types of energy technologies work for them. Eliminating these programs alone would save $3 billion in taxpayer money and help to return energy choice back to Americans.

Though the bill cuts $10 million from nuclear energy spending, based on the 2013 request, it would still fund over $150 million for nuclear waste disposal and management programs. None of this funding would go toward Yucca Mountain, the waste repository mandated by the Nuclear Waste Policy Act, as amended. Given the complete lack of any nuclear waste disposal or management policy by the Administration and its insistence on terminating the Yucca project, there is little justification for this spending. Instead, Congress should provide $40 million for the Nuclear Regulatory Commission to finish its review of the DOE’s Yucca Mountain permit application.

—Jack Spencer, Senior Research Fellow, Nuclear Energy, and Nick Loris, Herbert and Joyce Morgan Fellow

Last year, I made fun of the Washington Post for biased reporting when they used the world “slash” to describe a budget proposal that would have trimmed $6 billion out of a giant $3,800 billion budget.

I wrote that this was the budgetary equivalent of “going on a diet by leaving a couple of french fries in the bottom of the bag after bingeing on three Big Mac meals at McDonald’s.” A couple of other bloggers then had some fun by doing the exact calculations of what this would mean.

Now we have a cartoon version of Washington budgeting, authored by Gary Varvel.

Keep in mind, though, that this cartoon actually is inaccurate because it implicitly accepts the dishonest Washington definition of a budget cut (having spending grow, but not as fast as previously planned).

Every budget plan, even the very admirable proposals put forth by Sen. Rand Paul and the House Republican Study Committee, merely restrains the growth of federal spending.

So the cartoon should show Uncle Same with some clippers, simply seeking to keep the weed from growing even faster.

And if we replaced Uncle Sam with Barack Obama, instead of scissors or clippers, he’d be holding fertilizer.

___________

Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your commitment as a father and a husband.

Sincerely,

Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733, lowcostsqueegees@yahoo.com

Politicians keep raising the debt ceiling and they don’t admit they have a spending addiction!!!!

Politicians keep raising the debt ceiling and  don’t admit they have a spending addiction!!!!

Washington Could Learn a Lot from a Drug Addict

Uploaded on Jul 8, 2011

Washington’s chronic overspending is just like a junkie’s addiction to drugs. Unless the cycle of addiction is broken, our economic and unemployment situation will continue to suffer. Washington is out of time. To avoid hitting rock bottom, Washington must cut spending today. To spread this message, Washington Could Learn a Lot has created this video. Learn more at washingtoncouldlearnalot.com.

__________________

If this blog was an episode of Jeopardy, the response to the title of this post would be “Name three things that Dan Mitchell doesn’t like.”

But this blog isn’t a game show. It’s a serious forum* for discussing how we protect freedom and prosperity from ever-expanding government.

That’s why, in this interview with John Stossel, I reiterate my mantra that government spending is the problem and that deficits and debt are symptoms of the problem.

I usually use the analogy that government spending is a brain tumor and red ink is the headache caused by the tumor when seeking to help people understand that it’s important to focus on the disease and not the symptom. But to show that I’m not just a single-analogy kind of guy, this time I said that government spending was like lung cancer and that deficits are akin to the resulting cough.

Dan Mitchell Discusses America’s Real Fiscal Crisis with John Stossel

I also concocted an analogy about government goodies being akin to heroin. If you’re an addict, it may feel good to put more junk in your veins, but you’ll be much better off if you endure the short-run discomfort of going clean. Just as it may cause angst among interest groups if we stop the federal gravy train, but they’ll be better off in the long run if we reduce the burden of government spending and restore robust growth.

And nobody will be surprised to see that I made my usual points that there was no risk of default and that it’s actually surprisingly simple to balance the budget with modest spending restraint.

Speaking of analogies, I also modified Senator Durbin’s analogy so that he and his colleagues are a bunch of drug dealers trying to buy votes by addicting people to big government.

*Okay, given all the political humor I share, perhaps it’s a semi-serious forum, but my analysis of fiscal policy is not a joking matter.

 

 

Related posts:

Some more true cartoons from Dan Mitchell’s blog on the President’s love of big government

Does Stimulus Spending Work? After the housing bubble burst, the Bush and Obama administrations turned to stimulus in an effort to “create jobs.” Does such spending lead to economic improvement? Prof. Antony Davies examines the data to see how increases in federal spending relate to economic growth from 1955 to the present. The evidence shows […]

Cartoons from Dan Mitchell’s blog that demonstrate what Obama is doing to our economy (Big government slows down economic growth)

I have put up lots of cartoon’s from Dan Mitchell’s blog before and they have got lots of hits before. Many of them have dealt with the economy, eternal unemployment benefits, socialism,  Greece,  welfare state or on gun control. Want to Know How to Define Regime Uncertainty? October 13, 2010 by Dan Mitchell My previous post looked at […]

It seems you get all the bad characteristics of big government in IRS workers

Ohio Liberty Coalition versus the I.R.S. (Tom Zawistowski) Published on May 20, 2013 The Ohio Liberty Coalition was among tea party groups that received special scrutiny from the I.R.S. Tom Zawistowski says his story is not unique. He argues the kinds of questions the I.R.S. asked his group amounts to little more than “opposition research.” Video […]

Big government will destroy the human spirit (Cartoon)

I have put up lots of cartoons from Dan Mitchell’s blog before and they have got lots of hits before. Many of them have dealt with the economy, eternal unemployment benefits, socialism,  Greece,  welfare state or on gun control. Big government will destroy the human spirit. Political Cartoon: Smothered by Big Government December 16, 2011 by Dan Mitchell […]

People’s faith in big government is dropping fast!!

People’s faith in big government is dropping fast!! UFOs, Faked Moon Landings, and Fiscal Policy May 18, 2013 by Dan Mitchell I was very pleased to report the other day that the people of France overwhelmingly favor spending cuts, even when they were asked a biased question that presupposed that Keynesian-style spending increases would “stimulate” the […]

Obama is out to outgive Romney in the big government game!!!

Real Time with Bill Maher March 16 2012 – Alexandra Pelosi Interviews Welfare Recipients in NYC Published on Mar 18, 2012 by vclubscenedotcom Real Time with Bill Maher March 16 2012 – Alexandra Pelosi Interviews Welfare Recipients _________________________ Alexandra Pelosi (Nancy’s daughter) did a great job of showing in this clip on Bill Maher’s show on […]

Obama’s big government solutions have not worked

Government Spending Doesn’t Create Jobs Uploaded by catoinstitutevideo on Sep 7, 2011 Share this on Facebook: http://on.fb.me/qnjkn9 Tweet it: http://tiny.cc/o9v9t In the debate of job creation and how best to pursue it as a policy goal, one point is forgotten: Government doesn’t create jobs. Government only diverts resources from one use to another, which doesn’t […]

4 reasons why big government does not work

4 reasons why big government does not work Liberals love big government you know. Four Reasons Why Big Government Is Bad Government Posted by Daniel J. Mitchell A new video from the Center for Freedom and Prosperity gives four reasons why big government is bad fiscal policy. I particularly like the explanation of how government spending […]

4 reasons why big government does not work

4 reasons why big government does not work Liberals love big government you know. Four Reasons Why Big Government Is Bad Government Posted by Daniel J. Mitchell A new video from the Center for Freedom and Prosperity gives four reasons why big government is bad fiscal policy. I particularly like the explanation of how government […]

Marco Rubio hates big government about as much as I do

Marco Rubio hates big government about as much as I do. Star Parker Marco Rubio’s Courageous Speech 9/5/2011 | Email Star Parker | Columnist’s Archive Florida’s young Republican Senator Marco Rubio gave an important speech at the Reagan Presidential Library in California that has set off the liberal talking head universe. He had the temerity to suggest that […]

By Everette Hatcher III | Posted in Current Events | Tagged , , , , | Edi

Bill Clinton rightly noted that we should lower our corporate income tax in the USA!!!

Dan Mitchell and Chris Edwards Discussing the Debt Limit, Government Shutdown, 

Hillary-Clinton-and-Bill-Clinton

Bill Clinton rightly noted that we should lower our corporate income tax in the USA!!!

I’ve always had a soft spot in my heart for Bill Clinton. In part, that’s because economic freedom increased and the burden of government spending was reduced during his time in office.

Partisans can argue whether Clinton actually deserves the credit for these good results, but I’m just happy we got better policy. Heck, Clinton was a lot more akin to Reagan that Obama, as this Michael Ramirez cartoon suggests.

Moreover, Clinton also has been the source of some very good political humor, some of which you can enjoy here, here, here, here, and here.

Most recently, he even made some constructive comments about corporate taxation and fiscal sovereignty.

Here are the relevant excerpts from a report in the Irish Examiner.

It is up to the US government to reform the country’s corporate tax system because the international trend is moving to the Irish model of low corporate rate with the burden on consumption taxes, said the former US president Bill Clinton. Moreover, …he said. “Ireland has the right to set whatever taxes you want.” …The international average is now 23% but the US tax rate has not changed. “…We need to reform our corporate tax rate, not to the same level as Ireland but it needs to come down.”

Kudos to Clinton for saying America’s corporate tax rate “needs to come down,” though you could say that’s the understatement of the year. The United States has the highest corporate tax rate among the 30-plus nations in the industrialized world. And we rank even worse – 94th out of 100 countries according to a couple of German economists – when you look at details of how corporate income is calculated.

And I applaud anyone who supports the right of low-tax nations to have competitive tax policy. This is a real issue in Europe. I noted back in 2010 that, “The European Commission originally wanted to require a minimum corporate tax rate of 45 percent. And as recently as 1992, there was an effort to require a minimum corporate tax rate of 30 percent.” And the pressure remains today, with Germany wanting to coerce Ireland into hiking its corporate rate and the OECD pushing to undermine Ireland’s corporate tax system.

All that being said – and before anyone accuses me of having a man-crush on Bill and/or of being delusional – let me now issue some very important caveats.

When Clinton says we should increase “the burden on consumption taxes,” that almost surely means he would like to see a value-added tax.

This would be a terrible idea, even if at first the revenue was used to finance a lower corporate tax rate. Simply stated, it would just be a matter of time before the politicians figured out how to use the VAT as a money machine to finance bigger government.

Indeed, it’s no coincidence that the welfare state in Europe exploded in the late 1960s/early 1970s, which was also the time when the VAT was being implemented. And it’s also worth noting that VAT rates in recent years have jumped significantly in both Europe and Japan.

Moreover, Clinton’s position on fiscal sovereignty has been very weak in the past. It was during his tenure, after all, that the OECD – with active support from the Clinton Treasury Department – launched its “harmful tax competition” attack against so-called tax havens.

In other words, he still has a long way to go if he wants to become an Adjunct Fellow at the Cato Institute.

P.S. Just in case anyone want to claim that the 1993 Clinton tax hike deserves credit for any of the good things that happened in the 1990s, look at this evidence before embarrassing yourself.

P.P.S. There’s very little reason to think that Hillary Clinton would be another Bill Clinton.

Related posts:

Open letter to President Obama (Part 432) A suggestion to cut some wasteful spending out of the government Part 2 (includes editorial cartoon)

(Emailed to White House on 3-15-13.) President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 Dear Mr. President, I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is […]

Dear Senator Pryor, here are some spending cut suggestions (“Thirsty Thursday”, Open letter to Senator Pryor)

Senator Pryor pictured below:  Why do I keep writing and email Senator Pryor suggestions on how to cut our budget? I gave him hundreds of ideas about how to cut spending and as far as I can tell he has taken none of my suggestions. You can find some of my suggestions here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here,  here, and  here, and they […]

Open letter to President Obama (Part 430) A suggestion to cut some wasteful spending out of the government Part 1 (includes editorial cartoon)

(Emailed to White House on 3-15-13.) President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 Dear Mr. President, I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is […]

The Dysfunction in Washington is Republicans and Democrats that are unwilling to cut spending in order to vote for more programs (Democrats want more food stamps etc but Republicans vote for their pet programs and wars too like No Child Left Behind Act, the Iraq war, the prescription drug entitlement, and the TARP bailout).

The Dysfunction in Washington is Republicans and Democrats that are unwilling to cut spending in order to vote for more programs (Democrats want more food stamps etc but Republicans vote for their pet programs and wars too like No Child Left Behind Act, the Iraq war, the prescription drug entitlement, and the TARP bailout). If […]

Dear Senator Pryor, here are some spending cut suggestions (“Thirsty Thursday”, Open letter to Senator Pryor)

Senator Pryor pictured below:  Why do I keep writing and email Senator Pryor suggestions on how to cut our budget? I gave him hundreds of ideas about how to cut spending and as far as I can tell he has taken none of my suggestions. You can find some of my suggestions here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here,  here, and  here, and they […]

If you want to cut wasteful spending then the disability program must be reformed radically!!!

If you want to cut wasteful spending then the disability program must be reformed radically!!! October 7, 2013 1:19PM 60 Minutes Disability Investigation By Chris Edwards Share The abuse and overspending in government disability programs is so bad that even National Public Radio and 60 Minutes have taken notice. On the heels of this excellent […]

If you really want to cut wasteful spending then why not shut down Dept of Housing and Urban Development, Dept of Education and SBA?

If you really want to cut wasteful spending then why not shut down Dept of Housing and Urban Development, Dept of Education and SBA? There are many other areas that should be cut but these should be shut down!!!   October 7, 2013 4:57PM Close Washington to Dismantle the Welfare-Warfare State By Doug Bandow Share […]

Dear Senator Pryor, here are some spending cut suggestions (“Thirsty Thursday”, Open letter to Senator Pryor)

Senator Pryor pictured below:  Why do I keep writing and email Senator Pryor suggestions on how to cut our budget? I gave him hundreds of ideas about how to cut spending and as far as I can tell he has taken none of my suggestions. You can find some of my suggestions here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here,  here, and  here, and they […]

We need to stop wasteful government spending by privatizing the post office!!

We need to stop wasteful government spending by privatizing the post office!! Postal Service Won’t Shut Down but Will Default on Its Debt James Gattuso October 1, 2013 at 9:30 am Newscom The U.S. Postal Service (USPS) defaulted on its debt last night. No, it has nothing to do with the partial shutdown of the […]

We need to stop the stupid spending by Bureaucrats!!!

We need to stop the stupid spending by Bureaucrats!!!   Bureaucrats Gone Wild: Government Spends Recklessly as Fiscal Year Ends Rob Bluey September 29, 2013 at 1:55 pm Credit: Tetra Images/Newscom Washington’s reckless spending is driving America into debt — and yet federal bureaucrats continue their wasteful and frivolous ways. The latest example comes courtesy […]

By Everette Hatcher III | Posted in spending out of control | Edit | Comments (0)

Open letter to President Obama (Part 432) A suggestion to cut some wasteful spending out of the government Part 2 (includes editorial cartoon)

(Emailed to White House on 3-15-13.)

President Obama c/o The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500

Dear Mr. President,

I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is going on out here.

I know that you are looking at cutting spending in order to try and get deficit reduction. I am glad that you have that as your goal and I wanted to pass on a suggestion on where to cut spending.

Does Government Have a Revenue or Spending Problem?

People say the government has a debt problem. Debt is caused by deficits, which is the difference between what the government collects in tax revenue and the amount of government spending. Every time the government runs a deficit, the government debt increases. So what’s to blame: too much spending, or too little tax revenue? Economics professor Antony Davies examines the data and concludes that the root cause of the debt is too much government spending.

______________

We got to cut wasteful spending out of the government and here is another fine suggestion from the Heritage Foundation.

Todd Thurman

March 12, 2013 at 5:40 pm

Newscom

The massive spending bill, or continuing resolution, released by the Senate this week continues spending on programs which are inappropriate or wasteful and fails to adopt good policies in many areas. Here’s a rundown of some of the worst offenders in the Senate bill:

Head Start. Increasing Head Start funding is the antithesis of good early childhood education policy. The Senate CR provides $33.5 million in new funding for one of the most ineffective federal education programs in existence today: Head Start. While the new funding is earmarked for the Obama Administration’s plan to make the worst-performing Head Start centers re-compete for funds, it represents new spending on a program the federal government has deemed totally ineffective at meeting the needs of poor children.

In December, the Department of Health and Human Services (HHS) released its long-overdue evaluation of Head Start. The agency’s scientifically rigorous evaluation of more than 5,000 Head Start children from the time they entered the program through third grade revealed that the $8 billion per year federal program had little to no impact on cognitive, social-emotional, health, or parenting practices of participants. On a few measures, access to Head Start had negative effects on children.

In addition to the evidence presented by HHS of Head Start’s ineffectiveness, in 2010 the Government Accountability Office (GAO) reported widespread fraud at Head Start centers. GAO sent undercover investigators into Head Start centers in various states, and in half they found fraudulent activity, such as Head Start employees counseling families to underreport their income in order to appear eligible for services.

Since 1965, taxpayers have expended some $180 billion on Head Start yet have not received a return on that “investment.” And now, in the wake of an objective report by HHS demonstrating that Head Start is failing the poor children it was designed to serve, the Senate CR would increase spending and eschew any suggestion of eliminating or reforming the Great Society relic.

Head Start should be eliminated. At a minimum, it should be reformed to allow states to make their Head Start dollars portable, following low-income children to a private preschool provider of choice, instead of relegating them to underperforming Head Start centers.

—Lindsey Burke, Will Skillman Fellow in Education

Given what is happening is Europe, this Henry Payne cartoon seems very appropriate.

Speaking of Greek cartoons, this one has generated plenty of laughs.

Another great cartoon from Dan Mitchell’s Blog.

___________

Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your commitment as a father and a husband.

Sincerely,

Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733, lowcostsqueegees@yahoo.com

Open letter to President Obama (Part 430) A suggestion to cut some wasteful spending out of the government Part 1 (includes editorial cartoon)

(Emailed to White House on 3-15-13.)

President Obama c/o The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500

Dear Mr. President,

I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is going on out here.

I know that you are looking at cutting spending in order to try and get deficit reduction. I am glad that you have that as your goal and I wanted to pass on a suggestion on where to cut spending.

What Are the Dangers of Too Much Debt?

Published on Mar 20, 2012

Interest payments on U.S. government debt are three times spending in the Iraq and Afghanistan wars already, and that is with the lowest interest rate we have seen since the 1960s. A rise in interest rates would increase interest payments dramatically. What can the U.S. government do today to prevent a crisis from happening when interest rates go up?

______________

We got to cut wasteful spending out of the government and here is another fine suggestion from the Heritage Foundation.

Todd Thurman

March 12, 2013 at 5:40 pm

Newscom

The massive spending bill, or continuing resolution, released by the Senate this week continues spending on programs which are inappropriate or wasteful and fails to adopt good policies in many areas. Here’s a rundown of some of the worst offenders in the Senate bill:

Obamacare. The CR fails to stop the massive spending in Obamacare. Obamacare obligates an estimated $1.2 trillion for subsidies to individuals for purchasing coverage through the government exchanges and $638 billion for states agreeing to expand their Medicaid programs. Congress should eliminate the exchange subsidies and the enhanced federal match for the Medicaid expansion. Stopping these provisions would save the federal government more than $1.8 trillion over the next 10 years. Nor does it take steps to defund implementation of Obamacare.

—Nina Owcharenko, Director, Center for Health Policy Studies and Preston A. Wells, Jr. Fellow

More than two years ago, I explained in a TV interview that the looters and moochers should be careful that they don’t kill the geese that lay the golden eggs. After all, parasites need a healthy host.

Here is a cartoon from Dan Mitchell’s blog:

___________

Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your commitment as a father and a husband.

Sincerely,

Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733, lowcostsqueegees@yahoo.com

We got to get rid of the National Park Service!!!

We got to get rid of the National Park Service!!!

President Obama thinks he can prevail in the government shutdown fight by deliberately making life as difficult as possible for the maximum number of ordinary Americans.

We’ve seen this before. After suffering a defeat on the sequester, he made himself a laughingstock (as illustrated by these cartoons) with his Chicken-Little warnings that a tiny bit of fiscal restraint would grind government to a halt.

But his sequester hysterics are trivial compared to what the Obama Administration is doing today with the National Park Service.

Here are some unbelievable excerpts from Mark Steyn’s funny yet horrifying National Review column.

…the one place where a full-scale shutdown is being enforced is in America’s alleged “National Park Service,” a term of art that covers everything from canyons and glaciers to war memorials and historic taverns. The NPS has spent the last two weeks behaving as the paramilitary wing of the DNC, expending more resources in trying to close down open-air, unfenced areas than it would normally do in keeping them open. It began with the war memorials on the National Mall — that’s to say, stone monuments on pieces of grass under blue sky.

But it gets worse.

Not content with that, the NPS shock troops then moved on to insisting that privately run sites such as the Claude Moore Colonial Farm and privately owned sites such as Mount Vernon were also required to shut. When the Pisgah Inn on the Blue Ridge Parkway declined to comply with the government’s order to close (an entirely illegal order, by the way), the “shut down” Park Service sent armed agents and vehicles to blockade the hotel’s driveway.

Think that’s bad? Read on.

..in South Dakota, having closed Mount Rushmore the NPS storm troopers additionally attempted to close the view of Mount Rushmore — that’s to say a stretch of the highway, where the shoulder widens and you can pull over and admire the stony visages of America’s presidents.

What happened in Yellowstone, though, is surreal. Like something from Cambodia during the Pol Pot years.

But perhaps the most extraordinary story to emerge from the NPS is that of the tour group of foreign seniors whose bus was trapped in Yellowstone Park on the day the shutdown began. They were pulled over photographing a herd of bison when an armed ranger informed them, with the insouciant ad-hoc unilateral lawmaking to which the armed bureaucrat is distressingly prone, that taking photographs counts as illegal “recreation.” “Sir, you are recreating,” the ranger informed the tour guide. And we can’t have that, can we? They were ordered back to the Old Faithful Inn, next to the geyser of the same name, but forbidden to leave said inn to look at said geyser. Armed rangers were posted at the doors, and, just in case one of the wily Japanese or Aussies managed to outwit his captors by escaping through one of the inn’s air ducts and down to the geyser, a fleet of NPS SUVs showed up every hour and a half throughout the day, ten minutes before Old Faithful was due to blow, to surround the geyser and additionally ensure that any of America’s foreign visitors trying to photograph the impressive natural phenomenon from a second-floor hotel window would still wind up with a picture full of government officials. The following morning the bus made the two-and-a-half-hour journey to the park boundary but was prevented from using any of the bathrooms en route, including at a private dude ranch whose owner was threatened with the loss of his license if he allowed any tourist to use the facilities.

No bathroom stops?!? Has the bureaucracy really become this punitive and vindictive? Sounds like the Park Service has the same training program as the IRS.

I wonder if the “you-are-recreating” ranger is related to Mr. Norlander?

Ironically, American citizens now have less rights to “public land” than English peasants in 1217.

…in actual monarchies the king takes a more generous view of “public lands.” Two years after Magna Carta, in 1217, King Henry III signed the Charter of the Forest, which despite various amendments and replacement statutes remained in force in Britain for some three-quarters of a millennium, until the early Seventies. If Magna Carta is a landmark in its concept of individual rights, the Forest Charter played an equivalent role in advancing the concept of the commons, the public space. Repealing various restrictions by his predecessors, Henry III opened the royal forests to the freemen of England, granted extensive grazing and hunting rights, and eliminated the somewhat severe penalty of death for taking the king’s venison. The NPS have not yet fried anyone for taking King Barack’s deer, but it is somewhat sobering to reflect that an English peasant enjoyed more freedom on the sovereign’s land in the 13th century than a freeborn American does on “the people’s land” in the 21st century.

Yet all this abuse serves no purpose for open-air parks and monuments.

The geyser stasi of the National Park Service have in effect repealed the Charter of the Forest. President Obama and his enforcers have the same concept of the royal forest that King John did. The government does not own this land; the Park Service are merely the janitorial staff of “we the people” (to revive an obsolescent concept). No harm will befall the rocks and rivers by posting a sign at the entrance saying “No park ranger on duty during government shutdown. Proceed beyond this point at your own risk.” And, at the urban monuments, you don’t even need that: It is disturbing that minor state officials even presume to have the right to prevent the citizenry walking past the Vietnam Wall.

So what’s the bottom line?

The National Park Service should be out of the business of urban landmarks, and the vast majority of our “national” parks should be returned to the states.

Amen.

In my libertarian fantasy world, I have a list of priorities. I start with big things like entitlement reform and flat tax.

Then I move to medium goals like shutting down the department of agriculture and getting out of NATO.

At the bottom of my list are things like ending the drug war. It used to be that getting rid of national parks was in this category.

But the bureaucrats at the NPS have behaved so despicably that this is now much higher on my list of priorities. Simply stated, they’ve earned our disdain.

Let’s close with some amusing cartoons on this topic.

This Nate Beeler gem may be my favorite from today’s collection.

NPS Cartoon 3

Michael Ramirez unveils a monument to arrogance.

NPS Cartoon 4

Chip Bok shows who’s the real ideologue.

NPS Cartoon 2

Last but not least, Glenn McCoy captures the President’s petulance.

NPS Cartoon 1

P.S. Other examples of government shutdown humor can be enjoyed by clicking here, here, here, here, and here.

P.P.S. Excerpts from some of my other favorite Mark Steyn columns can be read here, here, here, here, here, here, and here.

 

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The Dysfunction in Washington is Republicans and Democrats that are unwilling to cut spending in order to vote for more programs (Democrats want more food stamps etc but Republicans vote for their pet programs and wars too like No Child Left Behind Act, the Iraq war, the prescription drug entitlement, and the TARP bailout).

The Dysfunction in Washington is Republicans and Democrats that are unwilling to cut spending in order to vote for more programs (Democrats want more food stamps etc but Republicans vote for their pet programs and wars too like No Child Left Behind Act, the Iraq war, the prescription drug entitlement, and the TARP bailout). If […]

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If you want to cut wasteful spending then the disability program must be reformed radically!!!

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If you really want to cut wasteful spending then why not shut down Dept of Housing and Urban Development, Dept of Education and SBA?

If you really want to cut wasteful spending then why not shut down Dept of Housing and Urban Development, Dept of Education and SBA? There are many other areas that should be cut but these should be shut down!!!   October 7, 2013 4:57PM Close Washington to Dismantle the Welfare-Warfare State By Doug Bandow Share […]

Dear Senator Pryor, here are some spending cut suggestions (“Thirsty Thursday”, Open letter to Senator Pryor)

Senator Pryor pictured below:  Why do I keep writing and email Senator Pryor suggestions on how to cut our budget? I gave him hundreds of ideas about how to cut spending and as far as I can tell he has taken none of my suggestions. You can find some of my suggestions here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here,  here, and  here, and they […]

We need to stop wasteful government spending by privatizing the post office!!

We need to stop wasteful government spending by privatizing the post office!! Postal Service Won’t Shut Down but Will Default on Its Debt James Gattuso October 1, 2013 at 9:30 am Newscom The U.S. Postal Service (USPS) defaulted on its debt last night. No, it has nothing to do with the partial shutdown of the […]

We need to stop the stupid spending by Bureaucrats!!!

We need to stop the stupid spending by Bureaucrats!!!   Bureaucrats Gone Wild: Government Spends Recklessly as Fiscal Year Ends Rob Bluey September 29, 2013 at 1:55 pm Credit: Tetra Images/Newscom Washington’s reckless spending is driving America into debt — and yet federal bureaucrats continue their wasteful and frivolous ways. The latest example comes courtesy […]

Stephen Davies on cutting government spending (includes cartoons)

When Governments Cut Spending Uploaded on Sep 28, 2011 Do governments ever cut spending? According to Dr. Stephen Davies, there are historical examples of government spending cuts in Canada, New Zealand, Sweden, and America. In these cases, despite popular belief, the government spending cuts did not cause economic stagnation. In fact, the spending cuts often […]

 

Cartoons from Dan Mitchell’s blog that demonstrate how stupid government can be

I have put up lots of cartoons from Dan Mitchell’s blog before and they have got lots of hits before. Many of them have dealt with the economy, eternal unemployment benefits, socialism,  Greece,  welfare state or on gun control.

I’ve written about the government’s war on consumer-friendly light bulbs (and also similar attacks on working toilets and washing machines that actually clean), so I’m generally not surprised by bureaucratic nonsense.

But even I’m shocked the federal government gave an affordability award for a light bulb that costs $50. I’m not making this up. Here’s a blurb from ABC News.

The U.S. government has awarded appliance-maker Philips $10 million for devising an “affordable” alternative to today’s standard 60-watt incandescent bulb. That standard bulb sells for around $1. The Philips alternative sells for $50. Of course, the award-winner is no ordinary bulb. It uses only one-sixth the energy of an incandescent. And it lasts 30,000 hours–about 30 times as long. In fact, if you don’t drop it, it may last 10 years or more. But only the U.S. Government (in this case, the Department of Energy) could view a $50 bulb as cheap.

Isn’t that wonderful? My tax dollars were used to reward a company that produced a light bulb I can’t afford.

Lisa Benson has a very good cartoon about this light bulb, as well as the less-than-shocking news that Obamacare will be more costly than originally forecast.

If you like Lisa’s work, there are some other good examples here and here.

Last but not least, I’m up in New York City for an investment funds conference about the Cayman Islands. Not a bad view from my window, though you need to click on the image to get a good idea of what I woke up to.

Too bad the state and the city are high-tax hell holes.

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“You-Didn’t-Build-That” comment pictured in cartoons!!!

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Cartoons from Dan Mitchell’s blog that demonstrate what Obama is doing to our economy

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I praised Michael Ramirez a few days ago for his clever political cartoons, so it’s time to “spread the wealth” and draw attention to a couple of superb cartoons by Chuck Asay (I think his hometown paper is the Colorado Springs Gazette).

Since I’ve bashed the biased and inaccurate work of the Congressional Budget Office, I found this cartoon very amusing.

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Obama on creating jobs!!!!(Funny Cartoon)

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2 cartoons illustrate the fate of socialism from the Cato Institute

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Cartoon demonstrates that guns deter criminals

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Gun control posters from Dan Mitchell’s blog Part 2

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  We got to cut spending and stop raising the debt ceiling!!! When Governments Cut Spending Uploaded on Sep 28, 2011 Do governments ever cut spending? According to Dr. Stephen Davies, there are historical examples of government spending cuts in Canada, New Zealand, Sweden, and America. In these cases, despite popular belief, the government spending […]

Gun control posters from Dan Mitchell’s blog Part 1

I have put up lots of cartons and posters from Dan Mitchell’s blog before and they have got lots of hits before. Many of them have dealt with the economy, eternal unemployment benefits, socialism,  Greece,  welfare state or on gun control. On 2-6-13 the Arkansas Times Blogger “Sound Policy” suggested,  “All churches that wish to allow concealed […]

Taking on Ark Times bloggers on the issue of “gun control” (Part 3) “Did Hitler advocate gun control?”

Gun Free Zones???? Stalin and gun control On 1-31-13 ”Arkie” on the Arkansas Times Blog the following: “Remember that the biggest gun control advocate was Hitler and every other tyrant that every lived.” Except that under Hitler, Germany liberalized its gun control laws. __________ After reading the link  from Wikipedia that Arkie provided then I responded: […]

Taking on Ark Times bloggers on the issue of “gun control” (Part 2) “Did Hitler advocate gun control?”

On 1-31-13 I posted on the Arkansas Times Blog the following: I like the poster of the lady holding the rifle and next to her are these words: I am compensating for being smaller and weaker than more violent criminals. __________ Then I gave a link to this poster below: On 1-31-13 also I posted […]