Liberty International Conference 2017 Puerto Rico
Thanks to Guilford R. Robinson I can place here these very important notes to me.
Thanks to Guilford R. Robinson I can place here these very important notes to me.
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He presents arguments that he thinks politicians can understand. He talked about economic growth and how long it takes to double GDP, listing 5 ways government policy affects growth: monetary, trade, regulatory, rule of law, fiscal policy. Fiscal policy is basically spending and taxes. Large government requires either high taxes or high debt. Ideal is keep tax rates low. Compliance is much better if tax rates are low. Ideally tax only one time since everyone agrees capital formation is key to growth. This is an important issue since there may be 4 taxes on money directed to 'savings and investments.' If you immediately spend money, by contrast, then taxes are much less onerous. Also, the tax code should remain neutral wrt 'winners and losers. Initially federal tax code was 400 pages. Now it's 76k pages. Laffer curve exists. Progressives think peak maximum is ~70%? Regarding government spending, Rahn curve shows relationship between government as %GDP and growth rate of GDP. in 1870 advanced countries spent ~9% of GDP. Government expanded after the countries became wealthy. There are now >20 countries c flat taxes.
Blog is www.DanieljMitchell.wordpress.com. He writes daily entries.
Links to his articles about Switzerland:
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Links:
Definition:
Japanese Children's Day is the day which the averaged Japanese should work to pay for whole government expenditure from new year day.
Purpose: Japanese government expenditure is too big to understand how big. Children's Day is the
tool to open taxpayer’s eyes. Children's Day Tells taxpayers how big the government spendings
are.
These statistic shows the decline of the welfare state. It proves that John Glubb was right.
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When asked what principles a good governor should follow he mentioned: