Today’s Brew 2-27-17

☕ Dan Mitchell is back again today using the Laffer Curve to educate the masses:

Laffer Curve Lessons for Leftists, Part VI

Excerpt/Tease:

“Wow, not just an admission of supply-side economics, but also an acknowledgement of the Laffer Curve.”



The Supply-Side Revivalist

Our friend Bob Landry, who runs Supply-Side Revivalist brings our attention to a recent post about Say’s Law. This is great, spend some time with it.

Say’s Law: The Antidote to Countless Economic Fallacies

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Today’s Brew 2-26-17

☕ Our friend Dan Mitchell is back to educating folks using the Laffer Curve.

Laffer Curve Lessons for Leftists, Part V

Excerpt:

And if I can use those example to teach them the basic lesson of supply-side economics (if you tax something, you get less of it), hopefully they’ll apply that lesson when contemplating higher taxes on thing they presumably do like (such as jobs, growth, competitiveness, etc).

Here’s a list of “successful” leftist tax hikes that have come to my attention.


 

☕️ Also, John Tamny has a new column at Forbes.com:

Get Bill Gates The ‘411’ On Robots, The Greatest Human Job Creators Ever

Excerpt:

What will those jobs performed by we humans be?  Those who can predict now what is a certainty will be billionaires many times over, and possibly trillionaires for seeing what is presently opaque, but also inevitable.  So while it’s impossible to predict what our work will look like in the future (was anyone “demanding” the internet in the 80s, or Uber in the 90s?), the automation and robots that Gates decries are the certain sign of exciting new forms of work in the future, much as Gates’ software version of the robot gifted us with exciting and new forms of work in the 80s, 90s and beyond.

One prediction from this writer is that as automation of everything becomes the norm, so will it increasingly become the norm that humans will be able to combine work with what they’re passionate about.  My next book is titled The End of Laziness, and with good reason.  A robot-driven future will be one defined by an erasure of laziness as more and more people get to do what they love thanks to automation rendering the getting of life’s necessities (and much, much more) immensely cheap.

Gates wants robots to be taxed in order to help the elderly and others less capable of getting by in today’s world, but then it’s robots that are already doing what governments can’t.  The same Google that automated away the telephone operator has made it possible with Google Maps for the blind to navigate cities, and then Google’s driverless cars will increasingly make it possible for the elderly to get around without relying on other, younger humans.


 

☕️ Man on the Margin also has an interesting post today:

The Wanniski Model


☕️ John Catsimatidis interviewed Larry Kudlow on Sunday on his radio show, The Cat’s Roundtable. Here is the podcast:

Today’s Brew 2-15-17

☕ This post at Mises Wire will make you think.

Say’s Law: The Antidote to Countless Economic Fallacies


☕ John Tamny also has a new post today about some dense thinking in the Republican Party right now.

The Republican Party Is Trying Desperately to Given Up Its Majority

Today’s Brew 2-14-17

Larry Kudlow at CNBC.com:

Trump needs to understand the consequences of his economic plan

Excerpt:

Anemic growth is what the rest of the world does. And I don’t want us to be the rest of the world. I don’t want us to be semi-socialists. I don’t want the United States to have a value-added tax (VAT). I want us to be free-market capitalists, and I want all the growth that comes with that.

And just imagine an incentive-driven, free-market-capitalist economy where tax dollars collected are put to good use, not squandered. I’m not opposed to government-spending restraint at all. I would like to get rid of the Department of Labor. The Department of Commerce can go, too. I would like to cut all the waste, fraud, and abuse in Washington that’s possible.

Incentive-based tax policy plus “drain the swamp” is an excellent model for the future of America.

Today’s Brew 2-7-17

As only John Tamny can, he has used Sunday’s Super Bowl victory to make a point about economics:

The New England Patriots Win Shows Why Steve Bannon Gets Prosperity Wrong

Excerpt:

Applied to Trump, and his chief policy strategist, Steve Bannon, both have ideas about the policies necessary for prosperity, and both surely believe they’re excellent.  Indeed, if the economy falters under Trump, historians will judge both the president and his top adviser negatively.  Rightly so, since economic growth is so simple.  It’s about removing or reducing the four main governmental barriers to production: taxes (a penalty placed on work and investment), regulation (a tax on production that fails, almost as a rule), floating money values (a tax on trade and investment), along with tariffs (a tax on work).

Trump and Bannon get the first two broadly right, but on money and trade they miss in a big way.  Money is merely a lubricant that makes trade (the purpose of our work) and investment (the direction of capital to future wealth creation) more frequent, but Trump’s been explicit in his desire for a weaker dollar that will render both less common.  And as workers we’re all importers, by definition (why else would we work?), which means tariffs tax the reason we’re working to begin with.


Today’s Brew 2-5-17

John Tamny has a new piece out today:

Sorry Envious Left, ‘Trickle-Down’ Economics Is Real, And It’s Everywhere

Excerpt:

Trickle-down is a hoax? Let’s be serious.  If by trickle-down we mean that all of our lives get better the more that individuals grow exceedingly rich, then it must be said that trickle-down quite simply is.  To deny its reality amounts to willful blindness.  And it’s more than trickle down.  It’s realistically a flood.  As the definition of rich surges into the stratosphere, the lives of everyone improve markedly.  Life would be unrelentingly cruel without the rich, whether earned or inherited.