Economics & Political Systems

What’s Wrong with a Tax on Billionaires?

Among the many radical economic plans offered by various Democratic presidential candidates, Senators Bernie Sanders and Elizabeth Warren have proposed an annual wealth tax on billionaires (and other “ultra-rich” Americans). Sanders has bluntly stated, “There should be no billionaires.” These … Continue reading

Is the Federal Reserve Apolitical?

President Donald Trump has had (what else?) a publicly tempestuous relationship with the Federal Reserve System. Fed Chairman Jerome Powell has adhered to the Fed’s official traditional position of being apolitical. Typical of Powell’s statements is the unequivocal assertion, “Political considerations … Continue reading

Boris Johnson’s Challenge

This article was first published by firstthings.com. The advent of Boris Johnson as British prime minister has a feeling of inevitability about it. Theresa May was undoubtedly a “decent” person, in the English sense of the word, but she was … Continue reading

On Trump, Democrats, and Socialism

I published a piece recently on the reaction to President Trump’s condemnation of socialism in his State of the Union. He said something indisputably factual and indubitably obvious to most Americans: “Here, in the United States, we are alarmed by … Continue reading