By Daniel J. Mitchell
I don’t blame Democrats for wanting to seduce Republicans into a tax-increase trap. Indeed, I completely understand why some Democrats said their top political goal was getting the GOP to surrender the no-tax-hike position. I’m mystified, though, why some Republicans are willing to walk into such a trap. If you were playing chess against someone, [...]
Illinois Downgrade: More Evidence that Higher Taxes Make Fiscal Problems Worse is a post from Cato @ Liberty – Cato Institute Blog
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If the 2012 edition of Heritage’s Index of Economic Freedom has bad news for the United States, the news for Europe is not much better. The 43 nations of the European region did manage to lose less economic freedom than did the United States, but a decline is still a decline. And the European decline was broad-based: Only nine countries made gains, and every one of the top 10 declined—in some cases, dramatically. The underlying driver of the declines in many cases will come as no surprise: higher levels of … More
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By Daniel J. Mitchell
Europe is in the midst of a fiscal crisis caused by too much government spending, yet many of the continent’s politicians want the European Central Bank to purchase the dodgy debt of reckless welfare states such as Spain, Italy, Greece, and Portugal in order to prop up these big government policies. So it’s especially noteworthy [...]
European Central Bank Research Shows that Government Spending Undermines Economic Performance is a post from Cato @ Liberty – Cato Institute Blog
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The Fed has shocked us once again, and it’s probably right. There’s a firestorm on the horizon. It starts in Europe, but it threatens the U.S. economy just as surely, and the Fed is getting ready. The most fundamental role of any central bank is to deal with a financial market crisis, to ensure markets operate as normally as circumstances permit. A central bank does this primarily by ensuring an adequate flow of liquidity to market participants, whether banks, other financial institutions, or other central banks. It is in this … More
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American readers looking for a sweeping and superbly written study of the British Conservative Party should look no further than Robin Harris’s The Conservatives: A History, just published by Bantam Press. Its more than 600 pages cover every Conservative prime minister from Robert Peel to David Cameron, with in-depth and lively analysis of the premierships of some of the great titans of modern Britain, including Benjamin Disraeli, Lord Salisbury, Winston Churchill and Margaret Thatcher. As Harris observes in his conclusion, the Conservative Party has for two centuries symbolized the greatness … More
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