Closed borders. No free trade deals. Welcome to socialist Venezuela.

Years have passed since the fall of the Berlin Wall. This watershed moment in history was highlighted by images of countless East German citizens joyously celebrating as the infamous Berlin Wall was knocked down, thus marking the beginning of the unification of East and West Germany and the eventual fall of the Soviet Union. On … Continue reading Closed borders. No free trade deals. Welcome to socialist Venezuela.

The Target of the “Border Adjustment Tax” is You

“[O]n life support,” says US Senator John Cornyn (R-TX) of the “Border Adjustment Tax,” proposed during last year’s GOP presidential primaries by US Senator Ted Cruz (R-TX) and backed by Speaker of the House Paul Ryan (R-WI). If the idea is indeed dead, American workers and consumers should heave a sigh of relief. It’s a very bad … Continue reading The Target of the “Border Adjustment Tax” is You

What Bannon’s CPAC speech got wrong

Chief White House strategist Steve Bannon's "Dismantle The Administrative State" speech to CPAC was a great prosecution of D.C.'s unaccountable regulatory regime. But it bears no resemblance to Donald Trump's actual Big Government agenda. Trump's agenda of centralized command of the economy, through trade restrictions and expanded social spending, requires the administrative state to be … Continue reading What Bannon’s CPAC speech got wrong

Don’t Ruin A Chance for Tax Reform with “Border Adjustments”

As part of an otherwise very good tax reform plan, House Republicans have proposed to modify the corporate income tax so that it becomes a “destination-based cash-flow tax.” For those not familiar with wonky inside-the-beltway tax terminology, there are three main things to understand about this proposal. First, the tax rate on business would drop … Continue reading Don’t Ruin A Chance for Tax Reform with “Border Adjustments”