Liberty
Imagining the end of the federal income tax
Editors at Issues and Insights ponder a potential seismic shift in federal tax policy. The federal income tax is abusive. It is inconsistent with liberty. It has, as Chief Justice…
Gross domestic product
market value of goods and services produced within a country
Liberty
Correcting misconceptions about the US labor market
Michael Strain of the American Enterprise Institute ponders surprising US employment numbers. Markets, economists and Federal Reserve officials seem to believe that the US labour market spent most of last…
Budget, Taxation & Economy
North Carolina designed a Medicaid program that it can’t afford
The North Carolina Medicaid program is on an unsustainable fiscal path. Data from state and national budget reports show that Medicaid expenditures have risen sharply, with growth evident across federal…
Liberty
Assessing economy’s potential impact on Trump support
Terry Jones of Issues and Insights writes about the potential political impact of recent economic news. In the latest national online I&I/TIPP Poll, taken from Jan. 6 to Jan. 9…
Liberty
China not as wealthy as it projects
Derek Scissors of the American Enterprise Institute assesses communist China’s financial picture. China’s military advancement, demographic decline, multidimensional trade success, political repression, and perhaps other features may be more important…
Liberty
American debt problem approaching post-WWII levels
Christopher Jacobs writes for the Federalist about a new warning involving the federal government’s debt. The budget reconciliation measure Congress recently passed includes some important reforms designed to help reduce…
Agriculture
The Economic Impact of the Pork Industry in the United States
In the past, I have discussed the history, economic impact, and controversy surrounding pork production in North Carolina. However, while North Carolina is a top producer of pork, the industry…
Liberty
Fiscal Crisis Closer Than Official Numbers Project
Mark Warshawsky writes for National Review Online about the federal government’s gloomy fiscal picture. The Congressional Budget Office (CBO) recently released its updated outlook for the finances of the federal government. CBO…
Liberty
Crossing a Government Spending ‘Rubicon’
Editors at the Washington Examiner argue that Americans must make difficult decisions soon about government spending. Maintaining the world’s most lethal fighting force is expensive. From a high of 35%…
Liberty
Tackling the Terrible Turn Toward Tariffs
Phil Gramm and Donald Boudreaux pour cold water on one of former President Donald Trump’s worst ideas. ‘National conservative” protectionists portray themselves as the adults in the room. They allege…
Budget, Taxation & Economy
North Carolina Ranks 2nd Best in Economic Outlook, 10th Best in Economic Performance, in New National Report
The American Legislative Exchange Council (ALEC), along with Dr. Arthur B. Laffer, just released their 2023 annual report of Rich States, Poor States. North Carolina ranks 2nd best in the “economic…
Budget, Taxation & Economy
Consumer Spending Fell, What Does This Mean?
Consumer spending fell 0.2 percent in December, making this the second consecutive month of decline. Covid savings are drying up and high interest rates appear to be cooling the economy. Officials at…