There are two problems with an estate tax: 1. The belief that estates should be taxed at all reveals a fundamental misunderstanding of economics, and 2. The actual taxing of estates has very different effects than those that advocates imagine it will have.
Without young, healthy individuals buying insurance and thereby paying into the system, the government is finding itself saddled with the responsibility for supporting the healthcare of the older, sicker population.
Several years ago Uncle Sam declared Jones, a man in his mid-40s, to be uniquely entitled to retire immediately at double his real annual income of $100,000 for life. Jones took Uncle Sam up on this offer. Each and every year until Jones enters oblivion Uncle Sam now transfers to him $200,000. Jones is made […]
Imagine that the government creates the Furniture and Desk Association, an agency which declares that only IKEA is allowed to sell chairs.
The relative worth of a dollar is dependent on a range of factors that vary from state to state.
Public Choice Theory provides a window into the incentives of government, providing insight into how and why bad and unpopular policies stay in place.
Should we allow the wealthy to pass on large inheritances to their children and grandchildren? After all, allowing one generation to transfer large sums of money to another seems to exacerbate the problem of inequality, allowing second and third generations to bask in wealth they really didn’t earn. If we, at the very least, taxed […]
Why does economic education matter? Look no further than the ongoing crisis in Venezuela, where the Washington Post is reporting that food shortages are so bad that people are attacking food trucks when they make deliveries. It all started when Hugo Chavez and his successor, Nicolas Maduro, tried to formulate public policy while ignoring economics. […]
When we left the colonists in the first installment of America’s Founding, the British Empire had begun taxing Americans for the purpose of retaining its vast military power. But the colonists viewed the very military they were funding with ire, as soldiers often treated the colonists with disregard. In the latest installment of this series, Professor […]
The colonists got sick and tired of the increase in taxes and encroachment on their freedoms. It may have been the last straw One major grievance colonists had against England is the one most people remember learning about in school: taxes. But the concern that radicalized the colonists was less about taxes per se, and […]
What would you do if the U.S. Army came to your door tomorrow and demanded you pay taxes and tariffs on many of the items in your home? Would you fight back against them; would you declare yourself free and independent from America? Yeah, we didn’t think you’d opt for the latter route… But, believe […]
In the decade before the revolution, British soldiers had started to act more like an occupying force than a source of security. Prof. Sarah Burns explains why this happened, and how increasing tensions between colonists and soldiers became one of the major reasons for declaring independence.
The American Revolution: That moment when we declared independence from Great Britain and created an unprecedented new society. While we all know the basic details, most people don’t stop to ask exactly why the Founders declared independence from a powerful empire. After all, the risks of doing so were enormous. First, creating a democracy over […]
Remembering the incredible risks our founding fathers took for us to live a life of freedom, choice, and fireworks on the 4th of July. When celebrating on Independence day, do you ever stop to think about the incredible risks the Founders took when they rebelled against British authority? They were starting a war with the […]
Editor’s note: This post originally appeared at the Washington Post. The author, Emily Ekins, will be joining Learn Liberty on Facebook Live this upcoming Thursday the the 30th at 3pm to talk about this and other election issues. Millennials are the only age group in America in which a majority views socialism favorably. A national […]
A county in Georgia is raising taxes in order to pay for public parks, even as it spends $400 million to fund a new stadium for the Atlanta Braves. Further, while citizens of Cobb County voted in favor of funding public parks, they weren’t given a say about building the stadium. As Reason reports: …in […]