Free Republic

We are seeing the most dangerous trend ever. There is an agenda behind the curtain and that is to sustain government at all costs and that includes everything you own. I have warned that either government will move toward a totalitarian state or to real democracy – real Athens style without the career politicians. The latter is possible with civil unrest as we saw in Ukraine. This agenda requires no secret group of sinister corporations, Rockefellers, Rothschilds, or Bildebergs. This is plain old Adam Smith where those in government will never admit they are wrong so the reason they are...

Oops. Also, Communists lie. Thomas Piketty’s book, ‘Capital in the Twenty-First Century’, has been the publishing sensation of the year. Its thesis of rising inequality tapped into the zeitgeist and electrified the post-financial crisis public policy debate. High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. (Snip) But, according to a Financial Times investigation, the rock-star French economist appears to have got his sums wrong.

While certainly not the only factor affecting whether Americans move from one state to another, taxes play a significant role in the equation, even if it is most significantly an indirect role. The Center for Budget and Policy Priorities recently released a report with the purpose of “debunking” this common-sense claim. In addition to the rebuttal from ALEC’s Center for State Fiscal Reform staff, the Tax Foundation also released a series of blog posts that address a few individual issues in CBPP’s report. First, the Tax Foundation makes the crucial point that taxes matter on the margin. Taxes might not...

FRENCH ECONOMIST and darling of the left Thomas Piketty is the latest in an endless array of economists who are clueless regarding profits and what brings about prosperity and a higher standard of living. In his call for ferocious wealth and income taxes on a global scale to combat what he believes is the growing inequality between the rich and everyone else, Piketty has become a media rock star. This merely underscores the fact that pundits and all too many journalists, politicos and economists know less about money and economics than their forebears did 100 years ago. No wonder the...

Yesterday, the Missouri House of Representatives voted to override the veto of Governor Jay Nixon and enact broad based tax cuts for the citizens of Missouri for the first time in almost 100 years. The Missouri House joins the Missouri Senate, which voted to override Governor Nixon’s veto Monday. The tax cut package is similar to one which passed the legislature last year and was also vetoed by Governor Nixon. The previous veto was sustained. Ironically, Governor Nixon vetoed broad tax cuts (now twice) for all Missourians who pay income taxes even though he called a special session last year...

Socialism is reaching its unavoidable conclusion in Venezuela where President Nicolas Maduro has begun introducing food rationing. A new food card will be issued to citizens called the “Secure Food Supply” card that is aimed at combatting hoarding and reselling. Shoppers apparently buy food which is heavily subsidized and resell it on the black market to secure profits.

Since the release of Capital in the 21st Century earlier this year, its French author has consistently made headlines, although the latest media bombshell might be one he and adoring fans wish to forget. Thomas Piketty’s former lover, French Culture and Media Minister Aurelie Filippetti, has gone public about their stormy relationship, which includes a legal claim she made against the academic star for alleged physical abuse in February 2009. Their often stormy relationship came to an end as a result of the complaint, which resulted in the detainment and formal charges filed against the Socialist Party darling on March...

Throughout the country, states are looking for ways to energize their economies and become more competitive. Each state confronts this task with a set of policy decisions unique to their own situation, but not all state policies lead to economic prosperity. Using years of economic data and empirical evidence from each state, the authors identify which policies can lead a state to economic prosperity. Rich States, Poor States not only identifies these policies but also makes sound research-based conclusions about which states are poised to achieve greater economic prosperity and those that are stuck on the path to a lackluster...

A great way to entertain yourself and learn something at the same time is to look up old video of Milton Friedman smacking down liberals. You should be able to find the videos where most of these quotes come from on YouTube.

Since 2008, Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index has used the latest economic data to determine which states are doing well and which states are struggling. The past 50 years of data point to a clear connection between pro-growth policies of lower taxes, less regulations and competitive labor policies. The states that embrace free markets and limited government fare much better than their high-tax, big government counterparts. Utah, South Dakota, Indiana, North Dakota and Idaho—this year’s top five states—showcase how good economic policy can lead to economic prosperity, while New York, Vermont, Illinois, California and Minnesota—the bottom...

In response to complaints Crimean pensioners that they robbed the Russian State Council of Crimea illegal newspaper advised them " to the events of historic proportions to look not only through the prism of their own pockets ." About this newspaper so-called Council of State of Crimea " Crimean news " , commenting on the claims of retired First Deputy Prime Minister Rustam Temirgalieva Crimea during the opening branch of the Russian National Commercial Bank in Simferopol. Read: BP admitted temporarily occupied territory of Crimea " Almost immediately threw clients representative of the Council of Ministers issues and claims ,...

Minnesota lawmakers on Thursday approved a measure raising the state's minimum wage from one of the lowest in the nation to one of the highest. The measure to bump the hourly wage to $9.50, one of dozens of wage proposals debated by lawmakers around the country this year, passed the Democrat-controlled House by a vote of 71-60. The Democrat-run Senate approved the measure on Wednesday. It now goes to Democratic Governor Mark Dayton, who supports the bill.

An economist from Troy University offered an explanation for why so many of his peers failed to anticipate the 2008 recession that shows no sign of ending. “We’re not, in economics, very good at forecasting,” Scott Beaulier told an audience at the Philadelphia Society’s annual meeting in Chicago last weekend. “Sixty economists predicted 2.8 percent growth in 2008,” Beaulier reminded the crowd at the Renaissance Hotel in downtown Chicago. Obviously, they were a bit off, yet none were chastened. “What that missed prediction led to was a doubling down,” Beaulier said. “The Right said it came from too much government.”...

We all can agree that overregulation of an industry tends to chill innovative business strategies and ultimately harm the consumers the regulations were intended to protect. However, in pursuit of free market solutions, policymakers must craft public policy approaches that not only allow free markets to flourish but also protect consumers. State and local governments across the country are trying to find that balance as they explore regulations involving commercial ridesharing and ride-on-demand services, offered by transportation network companies (TNC) such as UberX, Lyft, and Sidecar. As previously noted here, these new services have put a new “hi-tech spin” on...

All three can be good or bad depending on how much, how and for what used. That a little bit might be good does not mean that a lot more will be better.RadiationMany years ago, in the mid to late 1940's and early 1950's when I was a young boy, shoe stores had X-ray machines permitting one to view images of the bones in one's feet. Health hazards were recognized but generally ignored. Although most of the dose was directed at the feet, a substantial amount would scatter or leak in all directions. Shielding materials were sometimes displaced to improve image quality, to make the machine...

Tennessee policymakers are considering the repeal or “localization” of the Hall Tax, a tax on investment income (interest, dividends, and capital gains). The legislature is correct to consider this a pro-growth tax reform proposal. The Hall Tax, like all taxes on investment income, takes in little revenue while creating huge economic distortions and severely hampering economic growth. Repealing the Hall Tax is a pro-growth move that is sure to pay dividends in terms of job growth and income growth for all Tennessee citizens. Tennessee is usually a state that tax-reformers hail as a role model, given that it has no...

Last week, a bill was introduced but never heard in the Washington State Senate that considered a proposal to tax electronic cigarettes at 95 percent of their cost; the same as other tobacco or tobacco substitute products. A similar proposal is currently working its way through the Washington House as part of the House budget bill package. Whatever the intentions of policymakers, singling out a specific product or group of products for extra severe tax assessment is contrary to the principles of sound tax policy and will harm the state’s economy overall. First and foremost, the tax code is the...

Economic study suggests we're heading for a Blade Runner future Earlier this month, a group of economists released the results of a massive study looking at the economic prospects of people from across the United States. What they found was that the U.S. is like a patchwork quilt of different countries, where some regions offer people the economic prospects of a typical developed nation — and other regions are more like a developing country. This study debunks a few myths about the United States, including the idea that wealthy nations have wealthy citizens. It's a powerful reminder that nations are...

As 2014 brings in new struggles for cities and states to pay for employee legacy costs while still funding the essential functions of government, policymakers on both sides of the aisle are reconsidering how to provide a secure retirement for state and municipal employees in a responsible manner. Reports estimate total unfunded pension liabilities exceed $4 trillion across the 50 states, and Detroit’s municipal bankruptcy, along with dozens more over the last half decade, are just the tip of the iceberg. Many thoughtful criticisms have come from reform discussions, but also many attacks built on misconceptions, “straw man” arguments and...

Milton Friedman speaks about public schooling and the voucher system...