Sowell describes the critical differences between interests and visions. Interests, he says, are articulated by people who know what their interests are and what they want to do about them. Visions, however, are the implicit assumptions by which people operate. In politics, visions are either “constrained” or “unconstrained.” A closer look at the statements of both McCain and Obama reveals which “vision” motivates their policy positions, particularly as they pertain to the war, the law, and economics. (37:38) Video transcript
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[Subscription Required] The history of wealth taxes is that they raise much less revenue than hoped as targeted taxpayers find ways to avoid them. That looks to be the case with California’s wealth tax ballot measure (Proposition 40), which a new paper by the Hoover Institution’s Joshua Rauh and Benjamin Jaros estimates will result in a net revenue loss of $38.9 billion.
October 21, 2026
Articles
Hoover Institution fellow Robert E. Hall's 2026 Nobel win offers an opportunity to recall another of his major contributions with Hoover Institution fellow Alvin Rabushka: the idea of a single flat tax. They proposed a flat tax that would simplify tax collection and increase investment in physical and human capital, without abandoning the idea of progressive taxes.
October 22, 2026
Working Papers
History Working Paper 202602
September 30, 2026
