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Whoever can change the settings for this blog - could you please turn on the word verification in the comments options? I did for my blog and haven't gotten any of this spam.
Bridget
Whoever can change the settings for this blog - could you please turn on the word verification in the comments options? I did for my blog and haven't gotten any of this spam.
It's about time the concept of taxing all income at a single rate, which presidential candidate Steve Forbes and then-House Majority Leader Dick Armey broached a decade ago, once again takes center stage. It's increasingly popular overseas, with Romania and the republic of Georgia adopting it last January. Greece is likely to introduce a 25% single rate for both corporate and personal income next month. If Poland's opposition parties win next month's elections they are likely to introduce a flat tax. In Italy, the Bruno Leoni Institute has just published an interview with former finance minister and current defense minister Antonio Martino detailing his support of the flat tax.
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Here at home the flat tax is still routinely ridiculed. When Mr. Forbes floated the idea in 1995, President Clinton joked that Republicans were becoming "the party of flat-earthers and flat-taxers." But he has also told friends privately that he got a real scare during the 1992 primaries when Jerry Brown championed a flat tax. Mr. Brown won applause from audiences by pointing out that under our current system the rich will always be able to hire experts to lobby for tax loopholes and avoid the higher rate traps set for them.
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If the U.S. doesn't adopt the flat tax it may find itself losing jobs, capital and ambitious entrepreneurs to nations with a more ambitious growth agenda.
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Alvin Rabushka, a senior fellow at Stanford's Hoover Institution, believes it's only a matter of time before an emerging economic superpower like China or India goes the flat-tax route. His book on the subject has just been published in Chinese, with a preface by Lou Jiwei, the vice minister of finance. If China adopted a flat tax, more than a quarter of the world's population would be filling out tax returns on the back of a postcard. That would leave them a lot of time and money to eat our economic lunch.
I have a big government liberal friend who studied economics and finance. I am always forwarding to him anti-government propaganda from Mises.org and Cato. This is his latest attempt to justify government spending for stimulation of the economy.
Hello! What a day I have had! I suppose many of you out there were attending your orientations today, or at least returning to your schools of choice for another exciting year!
Today I leave for Claremont. Friday is Orientation; school starts Monday. I am very nervous. I feel like a first-grader again. Also I am sad. This morning I had to say good-bye to my girlfriend of three years and it was very hard. I will miss my family.
Rather than post an excruciatingly long reply as "comment 19" (or whatever) on my previous post, I'm posting what I also posted on my blog and xanga. I hope it's interesting, or at least provocative. This is probably my last post on the subject, at least for a while. I leave for school Sunday, and will be rather busy helping with orientation, starting a couple part time jobs, etc. Enjoy. =)
The last of my notes are online now. romansturgis@blogspot.com if you're interested.
The 60-year "anniversary" of the nuclear bombings of Hiroshima and Nagasaki was yesterday. I blogged about the incident; I'm of the belief that the actions authorized by President Truman were wrong. But I'm the first to admit that I don't have a ton of knowledge about the situation at the time, so I'm interested in hearing your opinions. =)
What is the difference between "reckless homicide" and "manslaughter"?
Rather than put this in the comments, I'll put it in a new post.
Here's a really nice piece by my friend Ben Powell and a student of his that examines actual empirical data on the wages paid by "sweatshops" in the Third World. Excellent intellectual ammunition for campus. Hat tip to Don Boudreaux at Cafe Hayek.
A good discussion is on right now on the flat tax. It is on the Dennis Prager Show. Just click here and then, when new screen pops up, click "Listen Live."