One of the worst things that has happened during this economic crisis is that capitalism itself has been attacked without mercy — even by some who generally support the free market. Calls for more regulations, more bailouts, more Fed action, more stimulus packages, more recovery programs, and more government intervention in general can be heard
Our current income tax system, inaugurated in 1913 with the adoption of the 16th Amendment, began with a 1 percent tax on taxable income above $3,000 ($4,000 for married couples). A series of surcharges of up to 6 percent were applied to higher incomes, with the maximum rate being 7 percent on taxable income over $500,000. Less than 0.5 percent of
The government’s War on Drugs, like its War on Poverty and its War on Terror, is a failure. It has clogged the judicial system, unnecessarily swelled prison populations, fostered violence, corrupted law enforcement, eroded civil liberties, and destroyed financial privacy. It has encouraged illegal searches and seizures, ruined countless lives,
He was, and is, but he is not alone. Writing in Time magazine (January 19 issue, online here ), Jeffrey Sachs, in an article called “The Case for Bigger Government,” makes the case for, what else--bigger government. We need to “restore national prosperity and security with a smartly rebalanced partnership between the public and private sectors.”
Even though the federal minimum wage is scheduled to rise again this year ($7.25 on July 24), more and more states are increasing their minimum wage to an amount higher than the federal minimum. There are now twenty-seven states, plus the District of Columbia, that have a higher minimum than the federal minimum. An interactive map with details on
We all know (or should know) Rockwell’s Law : “Always believe the opposite of what state officials tell you, and the corollary, always do the opposite of what they advise you.” But here is another profound truth. This one is Richman’s Law, from Sheldon Richman, the editor of The Freeman . In his article in the March 2009 issue of Freedom Daily
In all of Neal Boortz’s books on the FairTax (see my recent article “ The Flat Tax Is Not Flat and the FairTax Is Not Fair “), he maintains that, in order to be “revenue-neutral,” the rate would have to be 23% (figured inclusively--the tax is included in the price of the product), which is actually 30% (figured exclusively; that is, normally--the
NPR had a story today about a bill introduced by Rep. Thaddeus McCotter of Michigan. The Humanity and Pets Partnered Through the Years Act (HAPPY Act) would allow taxpayers to deduct up to $3,500 a year for pet care expenses. It turns out that the bill ( H.R. 3501 ) was actually introduced on July 31. Although this is another example of Congress
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.