A Primer on the Laffer Curve to Help Understand Why Obama’s Class-Warfare Tax Policy Won’t Work

International Liberty

My main goal for fiscal policy is shrinking the size and scope of the federal government and lowering the burden of government spending.

But I’m also motivated by a desire for better tax policy, which means lower tax rates, less double taxation, and fewer corrupting loopholes and other distortions.

One of the big obstacles to good tax policy is that many statists think that higher tax rates on the rich are a simple and easy way of financing bigger government.

I’ve tried to explain that soak-the-rich tax policies won’t work because upper-income taxpayers have considerable ability to change the timing, level, and composition of their income. Simply stated, when the tax rate goes up, their taxable income goes down.

And that means it’s not clear whether higher tax rates lead to more revenue or less revenue. This is the underlying principle of the Laffer Curve.

For…

View original post 568 more words

Thought Debtor’s Prison Was A Thing Of The Past ? Think Again

YouViewed/Editorial

Still Locking People Up For Being Poor? Really?! It’s 2014

 

 

 

” Debtors’ prisons sound like ancient history, right? Unfortunately, they’re all too common across the United States. In spite of the Constitution, case law, and common sense, low-income people are routinely jailed in places as far-flung as Georgia and Washington State simply because they cannot afford to pay their court fines.

  Let’s define court fines, because it’s kind of shocking. “Court fines” could be as little as a couple hundred bucks because someone was pulled over while driving with an expired license. If you’ve just been laid off and have kids to feed, it might be hard to find a couple hundred extra bucks in your budget. Well, that can send you to lock up.

  Not only does it cost the community quite a bit to jail someone (usually way in excess of the fine), but locking…

View original post 93 more words