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Posted By Don Boudreaux On August 31, 2011 @ 12:16 pm In Books,Hubris and humility,Myths and Fallacies,Reality Is Not Optional,Seen and Unseen,Trade,Video,War | Comments Disabled
The Fraser Institute’s Mark Milke shares sensible thoughts on the unsustainability of the welfare state ; here are some key ‘grafs:
For the record, the fault for the ramped-up public debt cannot be placed on “too low” taxes. A variety of countries with widely differing tax levels all continued to borrow massively over that period.
For example, since 1995, and as a percentage of its economy, Greece’s total tax take has been about one-eighth to one-fifth higher than the United States (depending on the year). But high-tax Greece put itself into more debt as did the (relatively) low-tax U.S. Or consider the UK; its tax rates rose steadily since 1995 but so too its red ink problem.
In other words, the assumption that higher tax revenues will save a country from its spending and borrowing addiction is mistaken. That’s not any more likely than a modest raise for a consumer maxed out on her credit cards whose real problem is overspending.
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 Gene Healy wisely doubts that the Obama administration’s success in ousting Gadhafi from his power-base in Tripoli is a victory worth celebrating: http://www.sfexaminer.com/opinion/op-eds/2011/08/mission-accomplished-libya
 The Manhattan Institute’s Heather Mac Donald exposes a journalist’s questionable premises: http://secularright.org/SR/wordpress/2011/08/30/a-new-york-times-reporter-tips-his-hand/
 The Fraser Institute’s Mark Milke shares sensible thoughts on the unsustainability of the welfare state: http://www.fraserinstitute.org/research-news/news/display.aspx?id=17883
 In this new Institute for Humane Studies video (from IHS’s LearnLiberty division), I offer some introductory thoughts on free trade and protectionism: http://www.learnliberty.org/content/free-trade-v-protectionism
 Leave it to my brilliant younger colleague Bryan Caplan to instructively connect a classic children’s tale with The Fountainhead: http://econlog.econlib.org/archives/2011/08/the_soul_of_a_c.html
 Jonah Goldberg sensibly warns against the Cult of Expertise: http://www.latimes.com/news/opinion/commentary/la-oe-goldberg-expertise-20110830,0,1467160.column
 Here’s the Washington Examiner‘s David Freddoso on the lunacy of government-promoted “green jobs: http://washingtonexaminer.com/opinion/columnists/2011/08/green-jobs-promise-something-nothing
 Richard Rahn riffs on Vito Tanzi’s new book: http://www.washingtontimes.com/news/2011/aug/30/growing-the-economy-for-dummies/
 book: http://www.amazon.com/Government-versus-Markets-Changing-Economic/dp/1107096537/ref=sr_1_1?s=books&ie=UTF8&qid=1314807156&sr=1-1
 Nick Schulz reviews: http://online.wsj.com/article/SB10001424053111903461304576522682469695342.html?mod=WSJ_Opinion_LEFTTopOpinion
 Sonia Arrison’s 100+: http://www.amazon.com/100-Plus-Longevity-Everything-Relationships/dp/0465019668/ref=sr_1_1?s=books&ie=UTF8&qid=1314807282&sr=1-1
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