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The power to tax has long conferred the power to destroy one’s political opponents. When the latest IRS politicization scandal erupted in May, many commentators talked as if the abuses were a novelty in American history. But, as David Burnham noted in his masterful 1990 book, A Law Unto Itself: The IRS and the Abuse …
Professor John H. Cochrane of the University of Chicago had an op-ed in the Wall Street Journal on Dec. 25, in which he gave a brief description of (among other things) a market in which individuals buy our own health insurance — and not from an Obamacare exchange. According to Professor Cochrane: “…we should transition …
Coast to coast, states are leaving taxpayers on the hook for massive debt payments over the coming decades as state governments continue to abuse their metaphorical credit cards. A new report released last week says state governments have more than $5.1 trillion in debt, largely because of pension obligations to former and current state employees, …
The great inventors/businessmen of the First Industrial Revolution, such as James Watt and Matthew Boulton of steam-engine fame, were not just smart but privileged. Most were either born into the ruling class or lucky enough to be apprenticed to one of the elite. For most of history since then, entrepreneurship has meant either setting up …
In 1859, a book was published with the title On Liberty. Written by John Stuart Mill, a philosopher of the time, this work focused on the difference between liberty and authority. Fast-forward to 2013 and we are in a time period in which it seems like “authority” has been winning the battle behind our backs… …
You’ve probably heard that President Obama signed up for Affordable Care Act (a.k.a. ObamaCare) health care. Well, sort of. He won’t actually be using it because he already receives dandy federal government coverage, as well he should. And as would be expected, he didn’t actually sign up himself because some staff did that for him, …
As many as 50,000 stray dogs roam the streets and vacant homes of bankrupt Detroit, replacing residents, menacing humans who remain, and overwhelming the city’s ability to find them homes or peaceful deaths. They are among the victims of a historic financial and political collapse. Detroit, a former auto-manufacturing powerhouse, declared the largest U.S. municipal …
“Inequality is the defining challenge of our time,” according to President Obama. It’s certainly the topic of the day for Paul Krugman, Joe Stiglitz and a whole raft of liberal pundits. But have you noticed that hardly anyone else is talking about it? When is the last time you heard a shoeshine person or a …
“Nowadays to be intelligible is to be found out.” — Oscar Wilde In the wacky world of American politics, if you as an employer have a religious objection to paying for your employees’ contraceptives, it is you who is contemptuous of religious freedom. As the New York Times editorial board lectured a judge who thinks …
Socialism is the big lie of the 20th century. While it promised prosperity, equality, and security, it delivered poverty, misery, and tyranny. Equality was achieved only in the sense that everyone was equal in his or her misery. In the same way that a Ponzi scheme or chain letter initially succeeds but eventually collapses, socialism …