We have a certain tax rate that exists today because we have to raise a certain amount of revenue. Remember, the only reason we have taxes is to pay for things that the government needs to do under the provisions of the Constitution.  The revenue from the income tax is derived from applying a certain tax rate to the net profit of what people are making. The higher the rate, the more it will stifle economic activity and disincentivize earning more in order to avoid paying a high tax...

Though I try to stick with taxes, politics, and economics, the recklessness and stupidity with which Anthony Fauci is directing Covid health policy can’t be ignored. One of the most incompetent and sad actions ever taken by this country has been to put Fauci in charge of messaging during this pandemic. The person in charge should have been a public health expert, someone who weighed pros and cons of pandemic decisions and made informed recommendations.Fauci showed himself worthless for the job...

Mark Mill’s had an excellent piece recently in the Wall Street Journal entitled, “Biden’s Not-So-Clean Energy Transition.” In it, he lays out the hidden costs and pitfalls of Biden’s energy plans, a sentiment shared by the International Energy Agency (IEA) 287 page report on clean minerals.The green and clean energy movement is a perfect example of Bastiat’s “seen and unseen.” Everyone says that clean energy, such as wind and solar, is clean and the cost of energy is zero, so how can you have...

The recent exposé from Pro Publica which published sensitive tax information from wealthy Americans has caused quite a stir. Their justification to disclose “the tax details of the richest Americans” was based on the belief that “the public interest in an informed debate outweighs privacy considerations.”  This is simply outrageous. Keeping individual taxpayer data private is the fundamental pillar under which the IRS can even ask individual’s for their personal information. The assertion...

The Tax Cuts and Job Act of 2017 was an important law that made some positive changes to the tax code. It reformed and reduced many regulations, thereby spurring economic growth, and got people to understand the importance of reducing marginal rates. On the corporate side, the large rate reduction (from 35% to 21%), move to territorial taxation, and expensing of equipment were terrific. However, on the individual side, Congress allowed politics to get in the way of real reform, and that is...