Taxation

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Just Call It ‘Cap-and-Tax’

The chief political virtue of cap-and-trade — a complex scheme to reduce greenhouse gases — is its complexity. This allows its environmental supporters to shape public perceptions in essentially deceptive ways. Cap-and-trade would act as a tax, but it’s not described as a tax.

The GM-Chrysler Bailout Tax

The cost of the auto bailout is soaring to $13-billion. This was not inevitable and the political class in Ottawa and Washington D.C. have made this perhaps the most expensive experiment ever in corporate welfare.

Great Right North

Reports last week that the recession is draining Social Security and Medicare funds were just one more reminder that the United States needs to fix its finances. For inspiration, why not look to Canada? Over the past few years, while U.S. politicians presided over huge increases in spending and debt, the Canadian government tightened its belt, slashed tax rates and balanced budgets.

What If Arnold Had Seized the Moment?

While politicians debate whether this week’s rejection of various spending initiatives in California marks the beginning of an antitax insurgency, I can’t help but wonder what might have been had Arnold Schwarzenegger immediately pushed for reform upon taking office in 2003.