MedWorm provides a medical RSS filtering service. Over 6000 RSS medical sources are combined and output via different filters. This feed contains the latest medical blog items that have been tagged with 'increases'. Sat, 03 Sep 2011 02:19:27 +0100 http://www.medworm.com/index.php?rid=5130727&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FdPEw5_rzjh0%2F By Daniel J. MitchellWarren Buffett’s at it again. He has a column in the New York Times complaining that he has been coddled by the tax code and that “rich” people should pay higher taxes. My first instinct is to send Buffett the website where people can voluntarily pay extra money to the federal government. I’ve made this suggestion to guilt-ridden rich people in the past. But I no longer give that advice. I’m worried he might actually do it. And even though Buffett is wildly misguided about fiscal policy, I know he will invest his money much more wisely than Barack Obama will spend it. But Buffett goes beyond guilt-ridden rants in favor of higher taxes. He makes specific assertions that are inaccurate. Last year my federal tax bill — the income tax I paid, as well as payroll... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5130727 Mon, 15 Aug 2011 18:45:01 +0100 5130727 http://www.medworm.com/index.php?rid=5086148&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FHxN0VDfJsuQ%2F By Daniel J. MitchellPoliticians last night announced the framework of a deal to increase the debt limit. In addition to authorizing about $900 billion more red ink right away, it would require immediate budget cuts of more than $900 billion, though “immediate” means over 10 years and “budget cuts” means spending still goes up (but not as fast as previously planned). But that’s the relatively uncontroversial part. The fighting we’re seeing today revolves around a “super-committee” that’s been created to find $1.5 trillion of additional “deficit reduction” over the next 10 years (based on Washington math, of course). And much of the squabbling deals with whether the super-committee is a vehicle for higher taxes. As with all k... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5086148 Mon, 01 Aug 2011 12:27:49 +0100 5086148 http://www.medworm.com/index.php?rid=5077664&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F5l-dpRVXrKU%2F By Daniel J. MitchellI testified yesterday before the Joint Economic Committee about budget process reform. As part of the Q&A session after the testimony, one of the Democratic members made a big deal about the fact that federal tax revenues today are “only” consuming about 15 percent of GDP. And since the long-run average is about 18 percent of GDP, we are all supposed to conclude that a substantial tax hike is needed as part of what President Obama calls a “balanced approach” to red ink. But it’s not just statist politicians making this argument. After making fun of his assertion that Obama is a conservative, I was hoping to ignore Bruce Bartlett for a while, but I noticed that he has a piece on the New York Times website also implying that America&#821... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5077664 Thu, 28 Jul 2011 12:40:44 +0100 5077664 http://www.medworm.com/index.php?rid=5069447&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FtqQe3o3ngFU%2F By Chris EdwardsI testified to the Senate Finance Committee today regarding federal spending and debt. Here are some of the points I made: Last night, President Obama called for a “balanced solution” to our fiscal problems, including tax increases and spending cuts. However, CBO projections do not indicate that we face a “balanced” problem. Instead, projections show that the deficit problem is caused all on the spending side of the budget. The United States has sadly become a big-government country. Until recently, government spending in this country was about 10 percentage points less than the average of OECD countries. That smaller-government advantage has now shrunken to just 4 percentage points. In recent years, policymakers have given us the largest deficit... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5069447 Tue, 26 Jul 2011 18:05:25 +0100 5069447 http://www.medworm.com/index.php?rid=5050529&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F01Hsa0pm0OM%2F The “Gang of Six” senators has released an outline of budget reforms that would supposedly reduce deficits by $3.7 trillion over 10 years. Revenues would rise by at least $1 trillion, while spending would be theoretically trimmed by various procedural mechanisms. The plan promises to “strengthen the safety net,” “maintain investments,” and “maintain the basic structure” of Medicare and Medicaid, which doesn’t sound very reform-minded to me. The Gang of Six plan is a grander version of Sen. Mitch McConnell’s recent debt-limit proposal, which was aimed at putting off any spending cuts. The Gang outline has a few specific cuts, but the document mainly consists of promises to restrain spending and raise taxes in the future. I’m surprised that Sen. Tom Coburn supports the ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5050529 Wed, 20 Jul 2011 18:24:21 +0100 5050529 http://www.medworm.com/index.php?rid=4975826&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F5lkzgVd7Tog%2F By Chris EdwardsAs we close in on congressional votes to increase the federal debt limit, negotiators are coming up with all kinds of ideas to hike taxes. (Suspiciously, they haven’t revealed very many spending cut ideas so far). One idea being discussed is to raise revenue by reducing the indexing of parameters in the income tax code. Currently, tax brackets and other features of the tax code are indexed to the Consumer Price Index (CPI). It is widely recognized that the CPI overestimates inflation for various reasons, as discussed here. The Bureau of Labor Statistics has developed a more accurate (and lower) measure of inflation, called chained CPI. If the tax code was indexed to chained CPI instead of CPI, the government would receive an automatic tax increase relative to cu... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4975826 Tue, 28 Jun 2011 18:35:34 +0100 4975826 http://www.medworm.com/index.php?rid=4789211&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FwH0wM4JNDEE%2F By Daniel J. MitchellMartin Feldstein’s on a roll, but not in a good way. Earlier this week in the Wall Street Journal, he advocated throwing in the towel on reforming Social Security into a system of personal retirement accounts. Today, in the New York Times, he endorses big tax increases. Rather odd positions for someone who served as Chairman of President Reagan’s Council of Economic Advisers. The Gipper must be rolling in his grave. To be fair, when compared to Obama’s tax-hike plan, Feldstein wants to raise taxes in ways that impose much less damage on the economy. Obama wants to raise tax rate on productive behavior, thus discouraging work, saving, investment, and entrepreneurship. Feldstein, by contrast, wants to cap various tax preferences. Reducing the budget def... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4789211 Thu, 05 May 2011 14:53:45 +0100 4789211 http://www.medworm.com/index.php?rid=4789224&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F_T6uSP5kDhU%2F By Daniel J. MitchellAs I have explained elsewhere, tax increases are a bad idea – unless you favor bigger government. And I’ve already added my two cents to the tax debate between Senator Coburn and Grover Norquist regarding the desirability of higher taxes. So it won’t surprise anyone to know that I fully agree with this new video from the Center for Freedom and Prosperity, which offers seven reasons why higher taxes are a bad idea. The video is narrated by Piyali Bhattacharya of Young Americans for Liberty, and here are her seven reasons. Tax increases are not needed Tax increases encourage more spending Tax increases harm economic performance Tax increases foment social discord Tax increases almost never raise as much revenue as projected Tax increases encourage mor... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4789224 Wed, 04 May 2011 13:58:53 +0100 4789224 http://www.medworm.com/index.php?rid=4709188&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FtZHrzH9jheE%2F By Daniel J. MitchellResponding to widespread criticism of his AWOL status on the budget fight, President Obama today unveiled a fiscal plan. It already is being criticized for its class warfare approach to tax policy, but the most disturbing feature may be a provision that punishes the American people with higher taxes if politicians overspend. Called a “debt failsafe trigger,” Obama’s scheme would automatically raise taxes if politicians spend too much. According to the talking points distributed by the White House, the automatic tax increase would take effect “if, by 2014, the projected ratio of debt-to-GDP is not stabilized and declining toward the end of the decade.” Let’s ponder what this means. If politicians in Washington spend too much and cause... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4709188 Wed, 13 Apr 2011 18:49:48 +0100 4709188 http://www.medworm.com/index.php?rid=4575045&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FhYxQkYpDKeg%2F By Daniel J. MitchellThere's a significant debate now taking place in Washington — largely behind closed doors, but sometimes covered by the media — on whether fiscal conservatives should maintain a rigid no-tax-increase position. One side of the debate features Grover Norquist of Americans for Tax Reform, which is the organization that maintains the no-tax-increase pledge. The other side features Sen. Tom Coburn of Oklahoma, who is part of a small group of GOP senators who might be willing to increase the tax burden as part of a deal that supposedly reduces deficits. I'm a huge fan of Senator Coburn, who was in favor of cutting wasteful spending before it became fashionable. His office, for instance, releases a "Pork Report" every couple of days. You shouldn't read it if you have hi... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4575045 Fri, 11 Mar 2011 15:28:29 +0100 4575045 http://www.medworm.com/index.php?rid=4477695&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FK3uc-XQxohY%2F By Tad DeHavenThe George W. Bush administration ushered in a new era of big government. The Obama administration has built on Bush's profligacy, and the president's new fiscal 2012 budget proposal would further cement the trend. Spending as a percentage of GDP has increased dramatically since the surplus years of the late 1990s. As the chart shows, the president’s budget once again seeks a permanently high level of federal spending as a share of the economy: While the numbers drop from their stimulus- and recession-induced highs, it is not because the president has suddenly decided that he desires a less active government. Rather, optimistic economic assumptions largely account for the slight retrenchment. Tax increases and optimistic economic assumptions explain the projected rise in r... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4477695 Tue, 15 Feb 2011 14:04:15 +0100 4477695 http://www.medworm.com/index.php?rid=4349496&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F-ayb1xioRpc%2F By David BoazAdvocates of limited government often worry about how to maintain republican government and freedom if a substantial portion of the population don’t pay taxes and are net beneficiaries of government largesse. Lately, it seems like a lot of the advocates of bigger government and higher taxes don’t pay their own taxes — like Tom Daschle, Timothy Geithner, Eleanor Holmes Norton, Charles Rangel, Al Franken, Governor David Paterson’s top aide, Democratic National Convention staffers, Al Sharpton, and so on. Now the Washington Post has found another one: Since joining the D.C. Council two years ago, Michael A. Brown has become the chief advocate for raising taxes on the city’s wealthiest residents, arguing that those who earn at least $250,000 a year ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4349496 Fri, 14 Jan 2011 20:02:46 +0100 4349496 http://www.medworm.com/index.php?rid=4253118&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F9jHx1bT-QCg%2F By Daniel J. MitchellWhen big-spending politicians in Washington pontificate about “deficit reduction,” taxpayers should be very wary. Crocodile tears about red ink almost always are a tactic that the political class uses to make tax increases more palatable. The way it works is that the crowd in DC increases spending, which leads to more red ink, which allows them to say we have a deficit crisis, which gives them an excuse to raise taxes, which then gives them more money to spend. This additional spending then leads to more debt, which provides a rationale for higher taxes, and the pattern continues — sort of a lather-rinse-repeat cycle of big government. Fortunately, it looks like the American people have figured out this scam. By a 57-34 margin, they say that reducing ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4253118 Sun, 12 Dec 2010 20:06:59 +0100 4253118 http://www.medworm.com/index.php?rid=4233170&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FoWhkg6aROzo%2F By Daniel J. MitchellMuch to my surprise, Senate Republicans held firm earlier today and blocked President Obama’s soak-the-rich proposal to raise tax rates next year on investors, entrepreneurs and small business owners. I fully expected that GOPers would fold on this issue several months ago because Democrats were using the class-warfare argument that Republicans were holding the middle class hostage in order to protect “millionaires and billionaires.” Republicans usually have a hard time fighting back against such demagoguery, and I was especially pessimistic since every Republican senator had to stay united to block Senate Democrats from pushing through Obama’s plan for higher tax rates on the so-called rich. But the GOP surprised me earlier this year with the... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4233170 Sat, 04 Dec 2010 22:27:38 +0100 4233170 http://www.medworm.com/index.php?rid=4230152&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FoWhkg6aROzo%2F By Daniel J. MitchellMuch to my surprise, Senate Republicans held firm earlier today and blocked President Obama’s soak-the-rich proposal to raise tax rates next year on investors, entrepreneurs and small business owners. I fully expected that GOPers would fold on this issue several months ago because Democrats were using the class-warfare argument that Republicans were holding the middle class hostage in order to protect “millionaires and billionaires.” Republicans usually have a hard time fighting back against such demagoguery, and I was especially pessimistic since every Republican senator had to stay united to block Senate Democrats from pushing through Obama’s plan for higher tax rates on the so-called rich. But the GOP surprised me earlier this year with the... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4230152 Sat, 04 Dec 2010 22:27:38 +0100 4230152 http://www.medworm.com/index.php?rid=4219732&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FGQ8_U4X16Ik%2F By Michael D. TannerThe howls of outrage that have greeted the report of the bipartisan National Commission on Fiscal Responsibility and Reform shows two things:  1) most Democrats have no interest in reducing the size and cost of government; and 2) few Republicans are actually serious about it. From the initial reaction, one would think that the Commission has slashed government to the bone, throwing the elderly, poor and sick into the street.  In reality, the Commission report is far from a radical document.  It proposes a reduction in government spending from 24.3 percent of GDP today to 21.8 percent over the next 15 years.  That’s a start.  But as recently as 2000 total federal spending was just 18.4 percent of GDP — and people were hardly dying in the streets during the C... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4219732 Wed, 01 Dec 2010 16:31:40 +0100 4219732 http://www.medworm.com/index.php?rid=4164519&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FQhtvYHK4SLE%2F By David BoazMuch of the media discussion of the massive tax increase that looms on January 1 uses terms like “extending the Bush tax cuts” or “tax breaks for the wealthy.” In fact, American taxpayers have faced a particular range of personal income tax rates for the past eight years. If the 2001 and 2003 tax laws are allowed to expire, then Americans will see increased tax rates on income, dividends, capital gains, and estates. So the issue is not “tax cuts” or “tax breaks,” it’s whether we should increase taxes in 2011. It’s good to see that President Obama understands this. At a news conference at the end of the G-20 Summit on Friday, he said: I want to make sure that taxes don’t go up for middle class families starting o... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4164519 Sat, 13 Nov 2010 21:10:48 +0100 4164519 http://www.medworm.com/index.php?rid=4159210&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fz9zLzPhzDlk%2F By Michael D. TannerMy colleagues, Dan Mitchell, Jagadeesh Gokhale, Michael Cannon and Chris Edwards have already provided their thoughts on the chairman’s mark released yesterday by the bipartisan deficit reduction commission.  A few additional thoughts: The commission provides a good-faith look at the magnitude of the problem we face, and the magnitude of cuts necessary to bring spending down to even 21 percent of GDP (and it really should be far lower).  In doing so they show just how unserious Republicans are in proposing a paltry $100 billion in spending cuts.  And the commission makes it clear, unlike Republicans, that both entitlements and defense spending must be on the table. The commission also starts the debate in a useful direction by implicitly acknowledging that their ne... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4159210 Thu, 11 Nov 2010 20:46:26 +0100 4159210 http://www.medworm.com/index.php?rid=4159222&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fzs-AIlTX99k%2F By Daniel J. MitchellI have many pet peeves, but one that causes me endless frustration is the Washington “spending cut” scam. This happens when politicians increase spending, but claim that they’re cutting spending because they previously had planned to make government even bigger. The proposal unveiled yesterday by the Co-Chairman of President Obama’s Fiscal Commission is a good example. If you read through their report, it sounds like there are lots of spending cuts. But they never explain that these supposed cuts are really just reductions in previously-planned increases. Here’s the bottom line. As shown in the graph, it is quite simple to balance the budget (and permanently extend all of the 2001 and 2003 tax cuts) if politicians simply limit spending gro... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4159222 Thu, 11 Nov 2010 16:02:04 +0100 4159222 http://www.medworm.com/index.php?rid=4151755&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F0pptSTQwFWw%2F By Daniel J. MitchellI’ve already written about the terrible work of the Congressional Budget Office. The CBO did an awful job on the stimulus, for instance, repeatedly asserting that diverting money from the private sector to government somehow would create jobs. CBO also was a disaster on Obamacare, claiming that a giant new entitlement program would reduce budget deficits. And the legislative bureaucracy even has argued that higher tax rates boost growth. That sounds absurd (and it is), but CBO is not the only taxpayer-funded bureaucracy on Capitol Hill producing this kind of nonsensical analysis. The Congressional Research Service just published a new report asserting that higher tax rates will boost economic performance. Here’s an excerpt from that CRS publication. &#8230... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4151755 Tue, 09 Nov 2010 20:44:23 +0100 4151755 http://www.medworm.com/index.php?rid=4133681&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fen7NrqAhQxg%2F By Chris EdwardsCongratulations to the wave of Republicans who successfully ran on promises to tackle rising government debt and cut the hugely bloated federal budget. On the campaign trail, most candidates were not very specific about how they would cut the budget, but when they come to Washington they will be looking for good reform targets. Newcomers to Congress can find a wealth of budget-cutting ideas in recent plans by various D.C. think tanks: At the Heritage Foundation, Brian Riedl has come up with $343 billion in proposed annual cuts. At the Committee for a Responsible Federal Budget, Bill Galston and Maya MacGuineas have proposed $400 billion in annual cuts. Esquire magazine assembled four former senators who came up with $476 billion in annual cuts. The National Taxpayers Union... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4133681 Wed, 03 Nov 2010 15:55:54 +0100 4133681 http://www.medworm.com/index.php?rid=4082069&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FKaLOrrGZzO4%2F By Tad DeHavenThe New York Times took a look at people who voluntarily send money to Washington in order to help pay down the federal debt. Last year, the Bureau of the Public Debt received $3.1 million in such donations. Looking at the federal budget, I found a total of $241 million in “gifts and contributions” for fiscal year 2010. Charitable donations to the federal government are insignificant when compared to donations made to private charities. A Cato essay on welfare spending points out that Americans contribute more than $300 billion a year to organized private charities and volunteer more than 8 billion hours a year to charitable activities, which can be valued at about $158 billion. Thus when given the choice, people overwhelmingly entrust their donations to private charities... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4082069 Tue, 19 Oct 2010 11:09:33 +0100 4082069 http://www.medworm.com/index.php?rid=4065353&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FoTBKt6_Pu-Y%2F By Tad DeHavenA study from the American Institutes of Research finds that federal and state governments have wasted billions of dollars on subsidies for students who didn’t make it past their first year in college. The federal total for first-year college drop outs was $1.5 billion from 2003 to 2008. Due to data limitations, the figures are only for first year, full-time students at four-year colleges and universities. Community colleges have even higher drop-out rates, and part-time students or students returning to college are more likely to drop out. Therefore, the numbers in the report are “only a fraction of the total costs of first-year attrition the nation and the states face.” Moreover, it doesn’t include the cost for students who drop out some time after their sophomore ye... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4065353 Wed, 13 Oct 2010 14:50:26 +0100 4065353 http://www.medworm.com/index.php?rid=4045073&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Faf_jCffPcN0%2F By Daniel J. MitchellHere’s a chart from Veronique de Rugy’s new article on federal revenues vs. spending in The American. Amazing how the problem becomes obvious when you look at real numbers and don’t get trapped into using “baseline” math (as I explain in my latest video). By the way, find out when John Stossel’s program on Fox Business News airs in your area. Veronique is a guest this week talking about these issues. Do We Have a Problem of Too Much Spending or Too Little Revenue? is a post from Cato @ Liberty - Cato Institute Blog (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4045073 Fri, 08 Oct 2010 18:50:08 +0100 4045073 http://www.medworm.com/index.php?rid=4027153&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FTK1h1wqy7Z8%2F By Daniel J. MitchellEli Lehrer has an article on the FrumForum entitled “Five Revenue Raisers the GOP Should Back.” He argues it would be good to get rid of preferences such as the state and local tax deduction and the mortgage interest deduction, and he also asserts that there should be “user fees” for things such as transportation. As an avid supporter of a flat tax and market pricing, I have no objection to these policies. Indeed, I would love to get rid of the state and local tax deduction so that taxpayers in Texas and Florida no longer have to subsidize the fiscal profligacy of politicians in California and New York. But there is a giant difference between getting rid of certain tax preferences as part of revenue-neutral (or even better, tax-cutting) tax refo... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4027153 Mon, 04 Oct 2010 11:01:57 +0100 4027153 http://www.medworm.com/index.php?rid=3993877&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FEXtRwURzsag%2F By Daniel J. MitchellJohn Podesta of the Center for American Progress had a column in Politico yesterday asserting that “closing the budget gap entirely on the spending side would require draconian programmatic cuts.” He went on to complain that there are some people who “refuse to look at the revenue side of the ledger – while insisting that we dig the hole $830 billion deeper over the next decade by extending the Bush tax cuts.”   Not surprisingly, Mr. Podesta is totally wrong. It’s actually not that challenging to balance the budget. And it doesn’t even require any spending cuts, though it would be a very good idea to dramatically downsize the federal government. Here’s a chart showing this year’s spending and revenue totals. It then sh... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3993877 Wed, 22 Sep 2010 16:02:58 +0100 3993877 http://www.medworm.com/index.php?rid=3805808&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fb-R9QIBkkxQ%2F By Daniel J. MitchellWriting in the Wall Street Journal, Peter Ferrara of the Institute for Policy Innovation explains that Washington budget deals don’t work because politicians never follow through on promised spending cuts. This is a very relevant argument, since President Obama’s so-called Deficit Reduction Commission supposedly is considering a deal featuring $3 of spending cuts for every $1 of tax increases (disturbingly reminiscent of what was promised — but never delivered — as part of the infamous 1982 TEFRA budget scam). Washington’s traditional approach to balancing the budget is to negotiate an agreement on a package of benefit cuts and tax increases. President Obama’s deficit commission seems likely to recommend just this strategy in Decembe... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3805808 Fri, 30 Jul 2010 19:56:06 +0100 3805808 http://www.medworm.com/index.php?rid=3790692&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fb4DM7DLQdWY%2F By Daniel J. MitchellThe 2001 and 2003 tax cuts are scheduled to expire at the end of this year, which means a big tax increase in 2011. Tax rates for all brackets will increase, the double tax on dividends will skyrocket from 15 percent to 39.6 percent, the child credit will shrink, the death tax will be reinstated (at 55 percent!), the marriage penalty will get worse, and the capital gains tax rate will jump to 20 percent. All of these provisions will be unwelcome news for taxpayers, but it’s important to look at direct and indirect costs. A smaller paycheck is an example of direct costs, but in some cases the indirect costs — such as slower economic growth — are even more important. This is why higher tax rates on entrepreneurs and investors are so misguided. For every... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3790692 Mon, 26 Jul 2010 14:48:04 +0100 3790692 http://www.medworm.com/index.php?rid=3762899&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F35BpdwvjcAw%2F By David BoazThe print edition of the Washington Post and the online Real Estate home page feature this headline: Debunking rumors of a housing sales tax The article begins: Rumors are flying that the health-care legislation Congress passed this year will impose a sales tax on all real estate sales. So I’m thinking, OK, more crazy Glenn Beck tea-party stories about mythical Obama tax hikes, and the Post is going to debunk them. Then I keep reading: But the rumors are based only partly on fact. Although there is a new tax, it will not apply to everyone, and existing tax breaks for home sales will remain in place. The Health Care and Education Reconciliation Act of 2010, which President Obama signed into law March 30, is comprehensive and complex. Section 1402, “Unearned Income M... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3762899 Sat, 17 Jul 2010 19:28:03 +0100 3762899 http://www.medworm.com/index.php?rid=3687086&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FIUyMrWIY1gA%2F By Daniel J. MitchellSmart statists understand that there are very strong Laffer Curve effects at the top of the income scale since investors and entrepreneurs have considerable ability to control the timing, level, and composition of their income. So if higher tax rates on upper-income taxpayers don’t collect much revenue, why is the left so insistent on class-warfare taxation? The answer, I think, is that soak-the-rich taxes are a “loss-leader” that politicians impose in order to pave the way for higher taxes on the middle class. Indeed, I made this point in my video on class warfare taxation, and noted that are not enough rich people to finance big government. As such, politicians that want to tax the middle class hope to soften opposition among ordinary people by firs... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3687086 Tue, 22 Jun 2010 15:21:46 +0100 3687086 http://www.medworm.com/index.php?rid=3687037&cid=t_110661_83_f&fid=34856&url=http%3A%2F%2Finsidesurgery.com%2F2010%2F06%2Fprivate-health-insurers-raise-rates-sharply-obama-administration-warns-price-gouging%2F The Kaiser Family Foundation has found that most private healthcare insurers have raised rates 20% or more in an attempt to “get in under the wire” before significant health insurance reform starts to take effect this summer and fall. (Source: Inside Surgery) Inside Surgery blogs http://www.medworm.com/rss/comments.php?id=3687037 Tue, 22 Jun 2010 11:18:43 +0100 3687037 http://www.medworm.com/index.php?rid=3508172&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F3KRQCk2njTk%2F By Juan Carlos HidalgoFollowing Rahm Emmanuel’s advice of not letting a crisis go to waste, the new center-right government in Chile now wants to extend the permanent rise in tobacco taxes—supposedly adopted as a measure to finance post-earthquake reconstruction—to foods with high concentrations of salt and trans fat [in Spanish]. Jaime Malañich, the Health Minister, said that the earthquake is opening up an opportunity to implement a measure that would increase the government’s revenue and fight obesity and that has been considered for many years. My colleague Ian Vásquez wrote a few days ago that, by announcing unnecessary tax increases as post-earthquake reconstruction measures, the recently-inaugurated administration of Sebastian Piñera was quick to disappoint those who expe... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3508172 Tue, 27 Apr 2010 02:06:50 +0100 3508172 http://www.medworm.com/index.php?rid=3499054&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FriNyFGnovr0%2F By Tad DeHavenSenate Budget Committee chairman Kent Conrad has released his budget plan for the next five years. The following are some thoughts on the proposal: Conrad proposes total federal spending for FY2011 equal to 25 percent of GDP, which would match the current fiscal year’s post-war record. Conrad says his proposal will cut spending as a share of the economy by 11 percent. This sounds okay until you realize that out-year spending would still be substantially above the norm at 22 percent of GDP. Conrad says his plan will cut the deficit as a share of the economy by 70 percent. But he’s starting from a Mount Everest-sized deficit of $1.4 trillion this year. Besides, his projected deficits for the next five years would add another $3.9 trillion to the debt. Conrad gets to ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3499054 Thu, 22 Apr 2010 20:08:11 +0100 3499054 http://www.medworm.com/index.php?rid=3243774&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FFOHwFBdaL9s%2F By Tad DeHavenSenator Kent Conrad (D-ND) has a reputation for being a “deficit hawk.” But the bar is apparently so low in Washington that merely paying lip service to “fiscal responsibility” is enough to earn you the hawk title in the press. In reality, Conrad is a tax and spender as a story in today’s Wall Street Journal demonstrates. These examples illustrate Sen. Deficit Hawk’s commitment to deficit reduction and fiscal responsibility: “Like many in Congress, he is conflicted. He boasts a 23-year record of looking after North Dakota voters with ample farm subsidies, aid for drought-hit ranchers, defense spending and scores of pet projects. He has done little to help rein in Medicare and Social Security expenses—the U.S.’s biggest budget busters.” “He has bee... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3243774 Thu, 04 Feb 2010 21:17:42 +0100 3243774 http://www.medworm.com/index.php?rid=3182165&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FfV5RgE6zDfs%2F By David BoazLast year I tried to compile a list of all the taxes President Obama and his allies were maneuvering to impose. But each week brings new ideas. Just recently we’ve heard about a bank tax, applying the Medicare tax to capital gains and other “passive” or “unearned” income, raising the Medicare tax rate, raising or broadening the capital gains tax, an income tax “surtax,” a tax on tanning – and of course the tax on private health insurance to pay for the expansion of government insurance has moved to the top of the list. And all of these on top of these ideas proposed or publicly floated by President Obama and his aides and allies: Raise the top income tax rates from their current 33 percent and 35 percent rates to 36 percent and 39.6 percent... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3182165 Mon, 18 Jan 2010 15:28:57 +0100 3182165 http://www.medworm.com/index.php?rid=3167097&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F_T4oaMqq1iI%2F By Michael D. TannerAs President Obama is finding out, spending a trillion dollars on health care reform is easy; paying for it is a bit harder.  Both the House and Senate versions contain huge tax increases.  But they take completely different approaches toward which taxes are hiked and who would pay them.  And, as President Obama discovered in yesterday’s contentious meeting with labor bosses, those differences will not be easy to resolve. The Senate wants to slap a 40 percent excise tax on so-called “Cadillac” insurance plans, that is plans with an actuarial value of more than $8,500 for an individual and $23,000 for a family.  The tax technically falls on the insurance company that offers the plan, but there’s widespread recognition that insurers will merely pas... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3167097 Tue, 12 Jan 2010 19:30:28 +0100 3167097 http://www.medworm.com/index.php?rid=3142523&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FE4qPMyOHaU4%2F By Mark A. CalabriaYesterday, at the annual meetings of the American Economic Association, Fed Chairman Ben Bernanke offered a continued defense of the Fed’s monetary policies earlier this decade. Essentially he believes that monetary policy did not contribute to the housing bubble.  He also makes clear that he believes that the excessively loose policy stance of the Fed after the dot-com bubble burst was appropriate given the level of unemployment at that time.   Given that today’s unemployment level is even worse, Bernanke has offered us a clear indication that monetary policy will remain excessively loose for the foreseeable future, regardless of the Fed’s inability to actually create jobs. Bernanke’s remarks also illustrate the contradictions in his own think... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3142523 Mon, 04 Jan 2010 17:26:35 +0100 3142523 http://www.medworm.com/index.php?rid=3096838&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F1JSyDgOuHek%2F By Adam SchaefferI’m wrapping up a paper on the real cost of public education, the total price tag per student, not just the stripped down version they typically trot out to show voters. One of the districts is Arlington, VA, which is the one I  happen to live in. Though the district is an unusually big spender, their most recent budget, for fiscal year 2010, contains hand-wringing typical for school districts across the country. “FY 2010 will present unique challenges and hardships for staff, however as stated earlier, these reductions are taken so that there is minimal impact on classroom instruction.” Arlington is planning to spend over $23,000 per student this year according to the Washington Area Boards of Education (WABE). That’s a 33 percent increase in constant dollars sin... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3096838 Wed, 16 Dec 2009 19:31:48 +0100 3096838 http://www.medworm.com/index.php?rid=2912168&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FmewnSvyUiHw%2F Today the College Board — maker of such fine products as the SAT and Advanced Placement exams — released its annual reports on college prices and student aid. College prices, it seems, have gone up significantly over the last year. However, if the following statement from the reports’ author, economist Sandy Baum, is accurate — I haven’t been able to see the reports myself yet — student aid largely offset the price increases. And do you know what that might mean? Colleges were able to charge students more without greatly affecting access by pawning much of the new charges off on donors and taxpayers: Sandy Baum, the College Board senior policy analyst who wrote both reports, said it was important to focus on the net price students actually paid, ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2912168 Tue, 20 Oct 2009 16:42:48 +0100 2912168 http://www.medworm.com/index.php?rid=2796408&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FslSQYwK3I5Q%2F Republicans made many big mistakes when they controlled Washington earlier this decade, so picking the most egregious error would be a challenge. But continued American involvement with the Organization for Economic Cooperation and Development would be high on the list. Instead of withdrawing from the OECD, Republicans actually increased the subsidy from American taxpayers to the Paris-based bureaucracy. So what do taxpayers get in return for shipping $100 million to the bureaucrats in Paris? Another international organization advocating for big government. The OECD, for example, is infamous for trying to undermine tax competition. It also has recommended higher taxes in America on countless occasions. And now it is suggesting that Iceland impose high tax increases – even thoug... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2796408 Mon, 14 Sep 2009 21:25:47 +0100 2796408 http://www.medworm.com/index.php?rid=2667401&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FL6XbTQy8V9A%2F Over the weekend Treasury Secretary Timothy Geithner, who’s had a bit of trouble paying his own taxes, made it clear–in Washington-speak–that tax hikes are coming.  He appeared on air with George Stephanopoulos.  Byron York of the Washington Examiner provides the transcript of the relevant Q&A: STEPHANOPOULOS: Former deputy Treasury Secretary Roger Altman said it is no longer a matter of whether tax revenues should increase but how. Is he right? GEITHNER: George, it is absolutely right and very important for everyone to understand we will not get this economy back on track, recovery will not be strong enough to sustain unless we can convince the American people that we’re going to have the will to bring these deficits down once recovery is firmly established. ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2667401 Mon, 03 Aug 2009 16:36:51 +0100 2667401 http://www.medworm.com/index.php?rid=2601961&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FQqwtjZG3HNk%2F The New York Times reports that House Democrats want to raise money for health care with a $550 billion tax hike on people who produce the most wealth. The Times says, the proposal is perhaps the clearest expression yet of the mandate that Democrats believe they won last November, when voters expanded Democratic majorities in Congress and sent Barack Obama to the White House. If Democrats think they won a mandate for huge tax increases — without talking about them — then 2010 ought to be fun. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2601961 Tue, 14 Jul 2009 12:37:50 +0100 2601961 http://www.medworm.com/index.php?rid=2477534&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fq16t_eoGPbY%2F The Obama Administration is proposing higher taxes on just about everyone and everything, but one common theme is that most of the tax increases are being portrayed as ways of fleecing the so-called rich. This new video, narrated by yours truly, provides five reasons why the economy will suffer if entrepreneurs and investors are hit with punitive taxes. As always, any feedback on message and style would be appreciated. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2477534 Mon, 15 Jun 2009 20:46:53 +0100 2477534 http://www.medworm.com/index.php?rid=2458070&cid=t_110661_87_f&fid=34872&url=http%3A%2F%2Fwww.blisstree.com%2Fhealthbolt%2Fwant-to-be-more-creative-move-overseas%2F Dream of writing the great American novel or become an acclaimed artist? Then maybe you need to think about living abroad.  According to a new research by the American Psychological Association, living abroad expands the mind. This conclusion is based on 5 studies involving students at Sorbonne University, INSEAD and the Kellogg School of Management in the US.  Of course, despite these findings, moving abroad does not guarantee a budding writer or artist will create the perfect masterpiece or manuscript. But as an expat, it’s interesting to know that living overseas is possibly increasing my creativity. One more reason to stay where I am! (source and image source) http://www.sxc.hu/photo/1065698 Post from: Healthbolt (Source: Healthbolt) Healthbolt blogs http://www.medworm.com/rss/comments.php?id=2458070 Sat, 06 Jun 2009 12:08:59 +0100 2458070 http://www.medworm.com/index.php?rid=2380731&cid=t_110661_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F6mnqDu-jDMo%2F God hates the sin but loves the sinner, we are told.  Americans have a similar attitude towards credit cards.  They love the cards but hate the card issuers. Naturally, President Barack Obama has picked up on this sentiment and wants the credit card companies to be “fair.”  Reports the Washington Post: The Obama administration yesterday called for an end to unfair credit card industry practices such as retroactive interest rate increases for any reason, late-fee traps that penalize borrowers with weekend or middle-of-the-day deadlines and teaser rates that last less than six months. In a written statement released by the Treasury Department, the administration outlined practices it would like Congress to reform as it considers two bills that would crack down on the industry... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2380731 Thu, 30 Apr 2009 12:36:49 +0100 2380731 http://www.medworm.com/index.php?rid=1100251&cid=t_110661_134_f&fid=36049&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FDiabetesNotes%2F%7E3%2F201771885%2F Ch-ch-ch-changes… I really dislike when I read that how we have been doing what we have done for years, it is now not how it should be done! Are you following me? We all know as diabetics we prick our lil’ ol’ fingers and make sure that we keep our blood sugar levels within “normal” limits approximately 4 times a day. The typical, and I say typical because I know that every diabetic is different, is to check our blood glucose in the morning before breakfast, before we eat our lunch, before we eat our dinner and then once before we turn in for the night. Due to some new research and a report titled “Guideline for management of Postmeal Glucose” that was carried out for The International Diabetes Federation we may need to be pricking our fingers even... Diabetes Notes blogs http://www.medworm.com/rss/comments.php?id=1100251 Mon, 17 Dec 2007 18:35:14 +0100 1100251 http://www.medworm.com/index.php?rid=1012448&cid=t_110661_111_f&fid=36048&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAHeartyLife%2F%7E3%2F181144930%2F Put that Red Bull down… and the can of Rock Star as well! The “high energy” drinks are not so hot for your heart. This isn’t brain surgery, caffeine raises the ol’ blood pressure thus cardiac issues. Shortly after consumption, your systolic rate increases by over 7.5% and diastolic raises 7% and heart rate is up 7-10 beats per minute. And why is this? Here ya go… Most energy drinks contain high levels of caffeine and taurine, an amino acid also found in protein-containing foods such as meats and fish. Both have had effects on heart function and blood pressure in some studies. In contrast, “sports drinks” in general contain various mixtures of water, sugars and salts alone, without chemicals aimed at increasing “energy” or alertnes... A Hearty Life blogs http://www.medworm.com/rss/comments.php?id=1012448 Wed, 07 Nov 2007 15:37:49 +0100 1012448 http://www.medworm.com/index.php?rid=733634&cid=t_110661_87_f&fid=34867&url=http%3A%2F%2Fwww.thediabetesblog.com%2F2007%2F07%2F13%2Falaskan-kids-score-free-bikes-to-prevent-diabetes%2F Filed under: Type 1, Type 2, Childhood, Lifestyle, ExerciseOver 700 kids in Alaska's Bristol Bay region will jump on shiny new Trek bikes this summer, thanks to a federal grant to fight diabetes among the area's American Indians and Alaska Natives. With about 8,000 residents in Bristol Bay, that is one bike for every eleven people. Now that's a pile of spokes! Alaska Native Medical Center reports Alaska natives have experienced a 120 percent increase of diabetes between 1990-2004, and in the mostly Yup'ik Bristol Bay region, it has increased 170 percent. Mary Clark, a 51-year-old Bristol Bay native and local hospital worker stated the area kids are gaining weight as traditionally-eaten berries and fish are being replaced with junk food. Carol Schumacher, diabetes program coordinator at Br... The Diabetes Blog blogs http://www.medworm.com/rss/comments.php?id=733634 Fri, 13 Jul 2007 04:00:00 +0100 733634 http://www.medworm.com/index.php?rid=529677&cid=t_110661_87_f&fid=34865&url=http%3A%2F%2Fwww.thecancerblog.com%2F2007%2F04%2F08%2Fanti-hiv-drug-use-in-pregnancy-increases-cancer-risk%2F Filed under: All Cancers, Research, Daily newsAntiretroviral drugs, used to prevent HIV transmission from mother to child, are now believed to cause genetic damage in infants. This damage, leading to an increased risk of developing cancer, makes it highly plausible these children may be diagnosed with the disease in mid and late adulthood.Two new studies indicate there are cancer-causing effects of transplacental exposure to AZT, an antiretroviral drug. These effects -- like increased incidence of tumors and tumors with genetic changes -- have been demonstrated in mice and rats and seem to be cause for concern in humans too."The cumulative mutagenesis data suggest that infants exposed transplacentally to AZT may be at increased risk for cancer as they age," said one researcher, whose findi... The Cancer Blog blogs http://www.medworm.com/rss/comments.php?id=529677 Sun, 08 Apr 2007 04:00:00 +0100 529677