☕ Our friend Dan Mitchell is back to educating folks using the Laffer Curve.
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.
- The big drop in soda purchases after a tax on sugary drinks was imposed in Berkeley.
- The big drop in home sales after a tax was imposed in Vancouver on purchases by foreigners.
- The big drop in tobacco sales after a big increase in D.C.’s tobacco tax.
- The big drop in soda purchases after a tax was imposed in Philadelphia.
☕️ Also, John Tamny has a new column at Forbes.com:
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: