In the New York Times of March 5th, economist Tyler Cowen gives his opinion on the situation prevailing in the United States – with a debt of $9 trillion (€ 6 435 billion). Citizens, he explains, are victims of a fiscal illusion and politicians know it. To get out of that vicious circle, Cowen suggests that we listen to the wisdom of Buchanan: “Professor Buchanan argued that the real choice was between a religion of budget balance and a rule of illusion.
Globalization
This is the tax revenue expected by the USA this year, while interest payments on the publicly held debt will be about $200 billion. Contrary to the statements of the…
The current Socialist (PSOE) government in Spain has claimed in different occasions that the low fiscal pressure that Spain has experienced in 2008 and 2009, gives policy-makers a large leeway to raise taxes. Besides, this measure has been supported as necessary in order to maintain –or improve- the current government-run social safety net and the level of public infrastructures. Angel Martin explains why raising taxes in Spain is not a really good idea.
This is the world economy real GDP expansion since 1980. It lifted hundreds of millions of people out of poverty.
This is the question addressed by Jason Fichtner and Katelyn Christ in their working paper for the Mercatus Center. They explain that a real tax reform is necessary, rather than…
This is the cumulated budget deficit of the OECD countries in 2010. On average, it represents 7.5 GDP points.
Singapore will host tomorrow the Global Tax Forum 2010. According to Dan Mitchell from the Center for Freedom and Prosperity, the OECD will attempt there to promote a project against tax competition. This project received a boost when the Obama Administration joined forces with countries such as France and Germany, but the tide is now turning against high-tax nations – particularly as more people understand that such an approach inevitably leads to Greek-style fiscal collapse.
The last statistics from the OECD are unequivocal: the unemployment rate in France is and has always been well above the average for the OECD countries and also above the average of countries from the euro zone. This is a proof that the State is not the solution for unemployment.