Supreme Court Left the Door Open for a Wealth Tax. But It's Still a Terrible Idea.
Wealth taxes discourage investment, shrink wages, and don’t generate much revenue.
Taxes
IRS Crackdown Nets Enough Revenue To Fund the Government for 90 Minutes
The Biden administration's $60 billion expansion of the IRS has netted $1 billion in new revenue so far.
The 2024 GOP Platform Promises To 'Make America Affordable Again.' So Why Are They Embracing Fiscal Insanity?
Although former President Donald Trump's deregulatory agenda would make some positive changes, it's simply not enough.
Biden and Trump Are Both Disastrously Wrong About Tariffs
Yes, cheap imports hurt some American companies. But protectionist trade policy harms many more Americans than it helps.
The National Debt Is Crossing an Ominous Line
The U.S. has successfully navigated past debt challenges, notably in the 1990s. Policymakers can fix this if they find the will to do so.
America Is in a Debt Crisis. Will Trump or Biden Address It at the Debate?
The candidate who grasps the gravity of this situation and proposes concrete steps to address it will demonstrate the leadership our nation now desperately needs. The stakes couldn't be higher.
Eating Doritos While Drowning in Debt
Plus: A listener asks if there are any libertarian solutions to rising obesity rates.
Reason Wins 7 Southern California Journalism Awards
First-place finishes include an investigative piece on egregious misconduct in federal prison, a documentary on homelessness, best magazine columnist, and more.
The National Debt Is Now So High That Every American Essentially Owes $100,000
We could grow our way out of our debt burden if politicians would limit spending increases to just below America's average yearly economic growth. But they won't even do that.
The Deadly Tobacco Drug War Down Under
Australia’s Prohibition-style attempts to abolish nicotine use have predictably led to a new drug war being fought over a legal substance.
Trump's Tax Plans: Good, Bad, Ugly?
Plus: Trump endorses Larry Hogan, violent crime decreases, and more...
Biden Keeps Blaming Others for His Economic Mistakes
The president has tried to shift blame for inflation, interest rate hikes, and an overall decimation of consumers' purchasing power.
Trump Wants To Exempt Tips From Income Taxes. Why Stop There?
Reducing revenue without identifying offsetting spending cuts means Trump is merely promising to borrow more heavily.
The GOP Once Claimed To Be the Party of 'Fiscal Responsibility.' So Why Not Reform Social Security?
Reasonable options include gradually raising the minimum retirement age, adjusting benefits to reflect longer life expectancies, and implementing fair means-testing to ensure benefits flow where they're actually needed.
American Manufacturers Need Tax and Regulatory Reform, Not Tariffs
Despite both presidential candidates touting protectionist trade policy, tariffs do little to address the underlying factors that make it difficult for U.S. manufacturers to compete in the global marketplace.
San Diego Is Cracking Down on Groups Exercising Outside Without a Permit
A revision to the municipal code made it illegal for groups of four or more people to convene in public spaces for commercial recreational activities without a government stamp of approval.
Congressional Republicans Launch 'Fishing Expedition' Against Progressive, Jewish, and Palestinian Nonprofits
The House Oversight and Education committees are investigating the sources of “malign influence” behind campus protests. They’re using tactics Republicans used to hate.
Phil Magness: Who Really Pays the Most Taxes?
Economist and author Phil Magness debunks a recent New York Times piece and shoddy academic work about the rich and their taxes.
Zoning Regulations Empower Control Freaks—and Bigots
The Institute for Justice has launched a project to reform land use regulation.
Brace for Big Tax Hikes in 2026 Unless Congress Acts
The Tax Cuts and Jobs Act expires at the end of 2025, with a high price tag for most Americans.
The Federal Government is Literally Taxing Air
Arcane tax rules based on carbonation levels are flattening the growth of America's craft cider industry.
No, Unions Aren't Having a Resurgence—and That's Good for Workers
Private unions have every right to exist, but that doesn't mean they're actually beneficial on net.
Rescheduling Marijuana Does Not Address Today's Central Cannabis Issue
Moving marijuana to Schedule III, as the DEA plans to do, leaves federal pot prohibition essentially untouched.
These New York Agencies Benefit From Giving Away Taxpayer Money
A report from Good Jobs First found that 80 percent of state development agency revenue comes from fees: The more tax money they give out, the more they get to keep.
This Bill Would Give the Treasury Nearly Unlimited Power To Destroy Nonprofits
It supposedly bans financing terrorism, but that's already illegal. It's really a power grab for the secretary of the treasury.
This Tax Week, Remember That the Federal Income Tax Is Relatively New
There are many pervasive myths about the U.S. tax code. Here are a few.
Alvin Bragg Says Trump Tried To Conceal 'Another Crime.' What Crime?
The leading possibilities are all problematic in one way or another.
FAFSA Glitches Cause Chaos for Millions of College Students
A shoddy effort to simplify the financial aid form led to errors affecting 30 percent of this year's FAFSA applications.
Don't Forget To Claim Drug Dealing Income on Your Taxes
According to IRS guidance, any income derived from illegal activity is taxable, and there's no statute of limitations on when they can go after you.
Poll: A Majority of Las Vegas Voters Don't Want To Pay for Athletics' New Stadium
The team's owner, John Fisher, may have overestimated Las Vegas residents' enthusiasm for a new baseball team.
The Real Tax Gap
Wealthier Americans pay a record share of federal taxes, but voters (and President Joe Biden) believe they're freeloading.
Poll: Americans Don't Think All This Government Is Worth What We Pay for It
The situation is more dire when you consider how much federal spending is financed by debt.
Say No to This: America's Fiscal Norms Are in Decline
Despite their informal nature, those norms have historically constrained U.S. fiscal policy. But they're eroding.
The White House Lied About Its IRS Funding Only Targeting the Rich
Plus: A listener asks the editors for examples of left-leaning thinkers who also hold libertarian ideas.
Chicago Mayor's Solution to Homelessness Fails to Convince Voters
Instead of a hefty real estate tax hike, voters want more logical, long-term solutions to a genuine crisis.
Promise-Breaking IRS
Plus: Ethan Mollick on AI, Nancy Pelosi's kente cloth, hurricanes may destroy us all, and more...
Politicians Are Showering Manufacturing Companies With Crony Subsidies for 'Job Creation.' It Won't Work.
These handouts will flow to businesses—often big and rich—for projects they would likely have taken on anyway.
Taxpayers Refuse To Pay New Stadium Expenses for Billionaire Sports Owners
Jackson County, Missouri, voted not to extend a sales tax that would have benefited the Chiefs and the Royals.
New York's Pot Legalization 'Disaster' Was Entirely Predictable
The state’s policies and practices seemed designed to strangle the legal cannabis supply.
Taxpayers Will Soon Find Out if They'll Have To Finance Fancy Stadiums for the Chiefs and the Royals
Jackson County, Missouri, residents should not be billed for the undertakings of private businesses.
Squatters Invaded His Mom's House—so He Fought Back
Thanks to "squatters' rights" laws, evicting a squatter can be so expensive and cumbersome that some people simply walk away from their homes.
Biden and Trump Try To Wish Away the Looming Entitlement Crisis
Neither presidential candidate is willing to back the reforms necessary to close the gap between revenue and benefits.
Byzantine Tax Laws Threaten To Make Us All Tax Cheats
The Department of Justice is suing several tax preparers for filing fraudulent returns, but even honest filers risk running afoul of tax laws.
