November 25, 2013
Despite the economic storm, European voters refuse to let the traditional left take the wheel. By Patrick Chamorel.
Look at the biggest antipoverty success story of recent years—welfare reform—and you might see the makings of a solution to illegal immigration. By Jeffery M. Jones.
Who are America’s costliest welfare recipients? Not unemployed men or single mothers, but the companies of the Fortune 500. Hoover visiting fellow Stephen Moore analyzes an outrage.
Federal subsidies to U.S. businesses now cost American taxpayers nearly $100 billion a year. If all corporate welfare programs were eliminated, Congress would have enough money to entirely eliminate the capital gains tax and the death tax. Alternatively, Congress could cut the personal and corporate income tax by 10 percent across the board. Either of these alternatives would do far more to enhance the competitiveness of U.S. industry than the current industrial policy approach of trying to help American companies one at a time.
Federal subsidies to corporate America take many forms: direct grant payments, below-market insurance, direct loans and loan guarantees, trade protection, contracts for unneeded activities, and unjustified special interest loopholes in the tax code. Despite their promises to downsize government, congressional Republicans have retreated from any serious attempt to reduce business subsidies. The Clinton administration has routinely requested budgetary increases for corporate handouts, including the Export Import Bank, the Overseas Private Investment Corporation, and the Commerce Department's Advanced Technology Program.
This study refutes common myths about corporate welfare programs: that they create jobs and promote growth; that they =`level the playing field=' with our foreign competitors; that they help small businesses; and that the payments are provided without regard to political considerations. The main effects of industrial policy programs are to undermine the free enterprise system and corrupt the political system. Congress should get businesses off the dole and use the savings to cut taxes, reduce the national debt or both.
Steven Hayward bids happy 20th birthday to the tax revolt—and hopes for a long and prosperous life
Pay off the debt, cut taxes, or offer private Social Security accounts?
A more accurate index is long overdue
James Kirchick on Let Them In: The Case for Open Borders by Jason Riley
Medicare needs to cut costs, escape political interference, and stay in business. Here’s how it can do all three. By Daniel P. Kessler.
Amy L. Wax on The Girls Who Went Away: The Hidden History of Women who Surrendered Children for Adoption in the Decades before Roe v. Wade by Ann Fessler and Single by Chance, Mothers by Choice: How Women are Choosing Parenthood without Marriage and Creating the New American Family by Rosanna Hertz
Anomalies of a Byzantine tax code
The low-tax beginnings of American prosperity
Stanford talks to Hoover Institution research fellow about government funding gaps over the past 35 years.