I have a Mises Daily today about Sunday’s 60 Minutes segment on hiking taxes, especially on the rich. Don’t tell anyone, but I actually used a bunch of empirical arguments! (This is permitted once every 7 years on Mises.org.) An excerpt:
The only true solution to the federal and state fiscal crises is to cut government spending. Governor Gregoire can pretend that this would return people in her state to the Dark Ages. In reality, the total operating and capital budget for Washington State grew from $53.5 billion in the 2003–2005 budget period to $68.5 billion in the 2007–2009 budget period. That 28 percent growth over a four-year period works out to a growth in spending of 6.4 percent per year. Now some of the increase could be blamed on price inflation, and some on population growth, but even so, Washington State could trim its spending merely by returning to its budget of a few years ago.