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Two reasons why Trump won't/can't get rid of the IRS:1. It's political suicide to get rid of payroll taxes.2. Tariff revenue isn't nearly enough to fund the federal government at the levels the welfare/spending-addicted voters demand.Be sure to follow the Loot and Lobby podcast at Mises.org/LL
International trade is the topic du jour. Mark Thornton shares his recent presentation at the Austrian Economics Scholars Conference about a timely and important book featuring many of your favorite authors, Free Trade in the Twenty-First Century: Economic Theory and Political Reality.“Why Smart People Are Rightly Confused About Tariffs” (Unanimity Podcast): Mises.org/U4 "Tariff Increases vs. Tax Cuts" (Minor Issues Podcast): Mises.org/MI_107Free Trade in the Twenty-First Century: Economic Theory and Political Reality, edited by Max Rangeley and Daniel Hannan: Mises.org/MI_113_BookApril 26 in Phoenix, Arizona, Dr. Robert Malone, Tom Woods, and Tom DiLorenzo will discuss the psychological operations in bureaucratic control, the madness of covid-era “public health,” and the corruption and hypocrisy of our federal bureaucracy. Enter for your chance to win a free ticket at https://mises.org/phoenixraffle25. The deadline is April 1. Winners will be announced the week of April 7.Be sure to follow Minor Issues at Mises.org/MinorIssues
Organized labor, which long has been the bedrock of the Democratic Party, is being courted by the MAGA Republicans trying to bolster their image with the “working classes.” But labor unions are no true friend to the working class. Read the article here: https://mises.org/mises-wire/new-gop-organized-labor-alliance-will-not-help-working-classesBe sure to follow the Guns and Butter podcast at Mises.org/GB
Some have proposed that the spending cuts identified by DOGE be directed towards a $5000 tax rebate for Americans who pay federal taxes. Critics warn it could be inflationary, just like the COVID-era stimmies. Bob disagrees, explaining that the DOGE spending cuts offset the impact.Rothbard's Making Economic Sense: Mises.org/HAP488aBob's Understanding Money Mechanics: Mises.org/HAP488bJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25
Some have proposed that the spending cuts identified by DOGE be directed towards a $5000 tax rebate for Americans who pay federal taxes. Critics warn it could be inflationary, just like the COVID-era stimmies. Bob disagrees, explaining that the DOGE spending cuts offset the impact.Rothbard's Making Economic Sense: Mises.org/HAP488aBob's Understanding Money Mechanics: Mises.org/HAP488bJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25
Recent comments from JD Vance and Pete Hegseth brought the relationship between the US and its allies in Europe into the spotlight. The unfortunate truth is that most of Europe is deep in a self-imposed decline. US taxpayers should not be forced to have any part of it.Read the article here: https://mises.org/mises-wire/trump-cannot-allow-declining-europe-drag-us-downBe sure to follow the Guns and Butter podcast at Mises.org/GB
Can tariff increases make up for the future revenue losses from extending the income tax reductions from President Trump's first term? This latest political hot potato is a false scenario and a dangerous one. It puts our standard of living at a critical crossroads. Mark Thornton identifies the missing road signs.See also "Why Smart People Are Rightly Confused About Tariffs" (Unanimity Podcast): Mises.org/U4 Enter the raffle to win a ticket to the Mises Institute's April 26 event in Phoenix at Mises.org/phoenixraffle25. The deadline to enter is April 1. Winners will be announced the week of April 7. To learn more about "Our Enemy, The Bureaucracy," visit Mises.org/phoenix25Be sure to follow Minor Issues at Mises.org/MinorIssues.
As Elon Musk takes on federal agencies, the Washington establishment is trying to frame him as an unelected plutocrat using government to help himself and other rich people at the expense of the poor. But these labels apply much more accurately to the establishment itself.Read the article here: https://mises.org/mises-wire/why-they-really-hate-elon-muskBe sure to follow the Guns and Butter podcast at Mises.org/GB
Britain‘s new Labour Government is doing what leftist governments always do: raising taxes on everyone, but pretending that only the wealthiest citizens will pay more. Middle-class British farmers are quickly finding out that the taxman is coming for them too.Original article: Inheritance Tax Hikes Threaten Farmers' Property Rights in the UK
Like Santa, who gives free gifts to our children, people think of the state as providing services “for free.” However, the state cannot provide anything without first confiscating wealth from others—like the Grinch, who first stole all the presents in Whoville.Original article: The State Isn't Santa Claus, It's the Grinch!
Like Santa, who gives free gifts to our children, people think of the state as providing services “for free.” However, the state cannot provide anything without first confiscating wealth from others—like the Grinch, who first stole all the presents in Whoville.Original article: The State Isn't Santa Claus, It's the Grinch!
Britain‘s new Labour Government is doing what leftist governments always do: raising taxes on everyone, but pretending that only the wealthiest citizens will pay more. Middle-class British farmers are quickly finding out that the taxman is coming for them too.Original article: Inheritance Tax Hikes Threaten Farmers' Property Rights in the UK
The media and political outcry that came when President Trump temporarily froze USAID and some domestic funding revealed how the political establishment uses the plight of the most vulnerable people to keep their rigged political system in place. Read the article here: https://mises.org/mises-wire/needy-are-human-shields-american-regimeBe sure to follow the Guns and Butter podcast at Mises.org/GB
Bob analyzes President Trump's recent remarks praising the revenue capacity of tariffs. He shows that historically, tariffs only bought in a small fraction of what income taxes currently yield, meaning federal spending would have to be sharply cut in order to phase out the income tax.HAPod Ep. 458 on Tariffs vs. Income Taxes: Mises.org/HAP485aBrian Domitrovic's Forbes Article, "Supply-Siders Battle Their Tariff Critics": Mises.org/HAP485bTrump on Tariffs: Mises.org/HAP485cThe Chart Shown in this Episode: Mises.org/HAP485dUse code Action25 to get 10% off your ticket to Educating for Liberty Mises Circle in Tampa on February 22: Mises.org/Tampa25The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Bob analyzes President Trump's recent remarks praising the revenue capacity of tariffs. He shows that historically, tariffs only bought in a small fraction of what income taxes currently yield, meaning federal spending would have to be sharply cut in order to phase out the income tax.HAPod Ep. 458 on Tariffs vs. Income Taxes: Mises.org/HAP485aBrian Domitrovic's Forbes Article, "Supply-Siders Battle Their Tariff Critics": Mises.org/HAP485bTrump on Tariffs: Mises.org/HAP485cThe Chart Shown in this Episode: Mises.org/HAP485dUse code Action25 to get 10% off your ticket to Educating for Liberty Mises Circle in Tampa on February 22: Mises.org/Tampa25The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Making it harder to do business with Americans is not the way to help domestic workers, small businesses, and everyone else in middle America who has been getting ripped off under our current political system.Read the article here: https://mises.org/mises-wire/tariffs-will-not-make-america-great-againRegister to attend Educating for Liberty: Mises Circle in Tampa, February 22, 2025, at https://mises.org/tampa25.Be sure to follow the Guns and Butter podcast at Mises.org/GB
Lawrence McQuillan from the Independent Institute joins Bob to delve into the regulatory failures and mismanagement behind the wildfire crisis in California. They discuss the environmental policies that exacerbate risks, offer practical solutions to firefighting and prevention shortcomings, and examine the role of private stewardship in mitigating future disasters. This episode overall sheds light on how California's political landscape and approach to wildfires continues to fuel a recurring tragedy.Lawrence's 2017 Article Detailing the CA's Fire Prevention Problem: Mises.org/HAP483aLawrence's 2019 Golden Fleece Report Submission on Mismanagement in CA: Mises.org/HAP483bLawrence's 2020 Interview on the Reasons Ca's Fires Keep Happening: Mises.org/HAP483cLawrence's 2024 Article on Lessons From the Lahaina Wildfires:: Mises.org/HAP483dUse code Action25 to get 10% off your ticket to Educating for Liberty Mises Circle in Tampa on February 22: Mises.org/Tampa25The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Lawrence McQuillan from the Independent Institute joins Bob to delve into the regulatory failures and mismanagement behind the wildfire crisis in California. They discuss the environmental policies that exacerbate risks, offer practical solutions to firefighting and prevention shortcomings, and examine the role of private stewardship in mitigating future disasters. This episode overall sheds light on how California's political landscape and approach to wildfires continues to fuel a recurring tragedy.Lawrence's 2017 Article Detailing the CA's Fire Prevention Problem: Mises.org/HAP483aLawrence's 2019 Golden Fleece Report Submission on Mismanagement in CA: Mises.org/HAP483bLawrence's 2020 Interview on the Reasons Ca's Fires Keep Happening: Mises.org/HAP483cLawrence's 2024 Article on Lessons From the Lahaina Wildfires:: Mises.org/HAP483dUse code Action25 to get 10% off your ticket to Educating for Liberty Mises Circle in Tampa on February 22: Mises.org/Tampa25The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
These days, most federally-funded workers are “private” contract and grant workers. These jobs will quickly disappear if we‘re serious about spending cuts. Original article: Want to Cut Federal Workers? Just Cut Spending.
Replacing the income tax, protecting American workers, serving as a negotiating tool, reducing the national deficit, reducing national debt, and more. We're told that tariffs are going to do all sorts of great things. Mark Thornton sets the record straight and explains why tariffs are unequivocally a bad thing.Additional Resources"The Goose that Laid the Golden Egg" by Mark Thornton: Mises.org/U4_A"Ludwig von Mises on Trade, Human Development, and Human Progress" by Mark Thornton: Mises.org/U4_B "The Political Economy of Protectionism" by Thomas DiLorenzo: Mises.org/U4_C"Protectionism and Immigration Reform" by Ryan McMaken: Mises.org/U4_D"Protectionism Abroad and Socialism at Home" by Ron Paul: Mises.org/U4_E"Protectionism Is Not the Answer to the Canadian Fur Trade's Problems" by Daniella Bassi: Mises.org/U4_F"Mises on Protectionism and Immigration" by Matthew McCaffrey: Mises.org/U4_G"Herbert Spencer: Protectionism Is Aggressionism" by Gary Galles: Mises.org/U4_H"Protectionism Is Immoral, Unjust, and Corrupt" by James Bovard: Mises.org/U4_I"Review of Peddling Protectionism: Smoot-Hawley and the Great Depression by Douglas A. Irwin" by David Howden (QJAE 18, no. 2 ): Mises.org/U4_J"Protectionism, War and the Southern Tradition" by Lew Rockwell (The Costs of War): Mises.org/U4_K"Protectionism: Origin and Effects" by Thomas DiLorenzo (Mises University 2010): Mises.org/U4_L"Free Trade vs. Protectionism" by Carmen Elena Dorobăț (Mises University 2024): Mises.org/U4_M"Free Trade vs. Protectionism" by Shawn Ritenour (Mises University 2022): Mises.org/U4_N"Free Trade vs. Protectionism" by Lucas M. Engelhardt (Mises University 2023): Mises.org/U4_O"Clarifying Economists Arguments about International Trade" by Bob Murphy (Human Action Podcast): Mises.org/U4_P"Do Trump Tariffs Make Sense" (The Bob Murphy Show): Mises.org/U4_Q"Here's why Trump thinks tariffs are good for the US — and what the experts say" by Aimee Picchi (CBS News): Mises.org/U4_RSubscribe to this monthly podcast at Mises.org/Unanimity.Music: “My Universe” ℗ 2006 Kate Higgins (katehiggins.com). Used with permission.
Original article: The American Addiction to Transfer Payments
Original article: The American Addiction to Transfer Payments
Mises Institute President Tom DiLorenzo joins Ryan McMaken to look at the many ways that the taxes, known as "tariffs," destroy wealth and empower the state. Donate $25 or more today and receive our December Bundle Special: https://Mises.org/RadioRothbard24Register for Educating for Liberty: Mises Circle in Tampa, Florida, on February 22, 2025: https://mises.org/events/educating-liberty-mises-circle-tampaAnatomy of the State by Murray Rothbard: https://mises.org/AnatomyGet free copies of What Has Government Done to Our Money? at https://Mises.org/RothPodFREEBe sure to follow Radio Rothbard at https://Mises.org/RadioRothbardRadio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug PROMO CODE: RothPod for 20% off
Mises Institute President Tom DiLorenzo joins Ryan McMaken to look at the many ways that the taxes, known as "tariffs," destroy wealth and empower the state. Donate $25 or more today and receive our December Bundle Special: https://Mises.org/RadioRothbard24Register for Educating for Liberty: Mises Circle in Tampa, Florida, on February 22, 2025: https://mises.org/events/educating-liberty-mises-circle-tampaAnatomy of the State by Murray Rothbard: https://mises.org/AnatomyGet free copies of What Has Government Done to Our Money? at https://Mises.org/RothPodFREEBe sure to follow Radio Rothbard at https://Mises.org/RadioRothbardRadio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug PROMO CODE: RothPod for 20% off
Bob discusses common talking points that pro-free-trade economists often use when making the case against tariffs. The purpose is to facilitate discussion so both sides have a deeper understanding of the subtle issues involved.Bob's Article on Trade Deficits: Mises.org/HAP475aSteve Landsburg on Obama's State of the Union Remarks about Exports: Mises.org/HAP475bThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Bob discusses common talking points that pro-free-trade economists often use when making the case against tariffs. The purpose is to facilitate discussion so both sides have a deeper understanding of the subtle issues involved.Bob's Article on Trade Deficits: Mises.org/HAP475aSteve Landsburg on Obama's State of the Union Remarks about Exports: Mises.org/HAP475bThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Presented in Fort Myers, Florida, on November 9, 2024.
While the US dollar is the world's “reserve” currency—at least for now—the reckless spending and money creation policies of the US government place the dollar in peril. Original article: Can America Survive Global De-Dollarization?
Would America's federal government deliberately undermine recovery efforts to try to achieve its own desired political ends? Of course.Original article: The Regime Wants Appalachia To Suffer
Trump's tax reform just replaces one tax with another. And would probably result in higher taxes. Be sure to follow the Loot and Lobby podcast at Mises.org/LL
While the US dollar is the world's “reserve” currency—at least for now—the reckless spending and money creation policies of the US government place the dollar in peril. Original article: Can America Survive Global De-Dollarization?
Would America's federal government deliberately undermine recovery efforts to try to achieve its own desired political ends? Of course.Original article: The Regime Wants Appalachia To Suffer
Contrary to myths of “Fed independence,” the Federal Reserve and the Treasury Department work closely together to keep monetary inflation going nonstop. Original article: Does Any Daylight Remain between Monetary and Fiscal Policy?
Contrary to myths of “Fed independence,” the Federal Reserve and the Treasury Department work closely together to keep monetary inflation going nonstop. Original article: Does Any Daylight Remain between Monetary and Fiscal Policy?
Taxing "the rich" won't make life more affordable for ordinary people. The true cause of the affordability crisis is inflation caused by central banks. Original article: Tax the Rich? Not a Good Idea
With the US government engaged in out-of-control spending, we are looking at tax increases in the coming years. And even if Congress does not pass official tax hikes, we will see the government seizing wealth via inflation.Original article: Be Prepared to Hear More about Taxes, Taxes, Taxes
With the US government engaged in out-of-control spending, we are looking at tax increases in the coming years. And even if Congress does not pass official tax hikes, we will see the government seizing wealth via inflation.Original article: Be Prepared to Hear More about Taxes, Taxes, Taxes
Taxing "the rich" won't make life more affordable for ordinary people. The true cause of the affordability crisis is inflation caused by central banks. Original article: Tax the Rich? Not a Good Idea
Recorded in front of a live audience at the 2024 Mises University, Bob discusses recent market turbulence with Mark Thornton. They also delve into the Skyscraper theory and the practicality of the Austrian Business Cycle Theory.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstreamDr. Thornton's Minor Issues Episode on the Inverted Yield Curve: Mises.org/HAP459aThe Skyscraper Curse: Mises.org/HAP459bDr. Thornton's Article From 2004 on the Housing Market: Mises.org/HAP459cThe Inverted Yield Curve from Understanding Money Mechanics: Mises.org/HAP459dBob's Econlib Article on Fiscal Austerity and Tax Rates: Mises.org/HAP459eJoin Peter Klein and Ryan McMaken in Albuquerque, New Mexico for a Mises event on strategy, economics, and decentralization of power. Register now: Mises.org/NM24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Recorded in front of a live audience at the 2024 Mises University, Bob discusses recent market turbulence with Mark Thornton. They also delve into the Skyscraper theory and the practicality of the Austrian Business Cycle Theory.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstreamDr. Thornton's Minor Issues Episode on the Inverted Yield Curve: Mises.org/HAP459aThe Skyscraper Curse: Mises.org/HAP459bDr. Thornton's Article From 2004 on the Housing Market: Mises.org/HAP459cThe Inverted Yield Curve from Understanding Money Mechanics: Mises.org/HAP459dBob's Econlib Article on Fiscal Austerity and Tax Rates: Mises.org/HAP459eJoin Peter Klein and Ryan McMaken in Albuquerque, New Mexico for a Mises event on strategy, economics, and decentralization of power. Register now: Mises.org/NM24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
There is no general social benefit from government spending regardless of how it is financed.Recorded at the Mises Institute in Auburn, Alabama, on August 1, 2024.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.
Continued bailouts undermine the entire economy by rewarding financial failure and discouraging productive economic activity.Original Article: How Corporate Bailouts Inflate the Money Supply
Continued bailouts undermine the entire economy by rewarding financial failure and discouraging productive economic activity.Original Article: How Corporate Bailouts Inflate the Money Supply
Prompted by a listener request, Bob gives the standard economic analysis of tariffs and other types of taxes. This is relevant because the populist Right is arguing for a hike in tariffs to fund income tax cuts.Bob's Article, "Carbon Taxes and the 'Tax Interaction Effect'": Mises.org/HAP458aTrump-Biden Tariff Tracker: Mises.org/HAP458bBob and Dave Smith on Open Borders: Mises.org/HAP458cFrédéric Bastiat's Candlestick Makers' Petition: Mises.org/HAP458dJoin Peter Klein and Ryan McMaken in Albuquerque, New Mexico for a Mises event on strategy, economics, and decentralization of power. Register now: Mises.org/NM24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
Prompted by a listener request, Bob gives the standard economic analysis of tariffs and other types of taxes. This is relevant because the populist Right is arguing for a hike in tariffs to fund income tax cuts.Bob's Article, "Carbon Taxes and the 'Tax Interaction Effect'": Mises.org/HAP458aTrump-Biden Tariff Tracker: Mises.org/HAP458bBob and Dave Smith on Open Borders: Mises.org/HAP458cFrédéric Bastiat's Candlestick Makers' Petition: Mises.org/HAP458dJoin Peter Klein and Ryan McMaken in Albuquerque, New Mexico for a Mises event on strategy, economics, and decentralization of power. Register now: Mises.org/NM24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree
For all of the claims that governments “create jobs,” in reality, government jobs come at a greater cost than any value those jobs may create. Government jobs are a burden to the economy.Original Article: The State Does Not Create Value-Enhancing Jobs
For all of the claims that governments “create jobs,” in reality, government jobs come at a greater cost than any value those jobs may create. Government jobs are a burden to the economy.Original Article: The State Does Not Create Value-Enhancing Jobs
Government officials like to claim they are doing something about reducing poverty. The trouble is, of course, that what they are doing makes things worse. Here on Income Tax Day, we recommend that next time, they should do nothing.Original Article: The War on Poverty Makes Poverty Worse
Stephanie Kelton is the star of a new documentary film touting the alleged brilliance of Modern Monetary Theory (MMT). Murphy gives a comprehensive critique of the film, covering the flaws in its theory, history, and policy recommendations.Finding the Money Documentary: Mises.org/HAP447aBob's Book on MMT, Understanding Money Mechanics: Mises.org/HAP447bRadford's Paper on P.O.W. Camps: Mises.org/HAP447cThe Upside-Down World of MMT: Mises.org/HAP447dBob's Article on Debt and Future Generations: Mises.org/HAP447e The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/MoneyHuman Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: Mises.org/HAPodFree
Robert Nozick's Anarchy, State and Utopia turns fifty this year, and this libertarian classic has stood the test of time.Original Article: Anarchy, State and Utopia: Robustly against Redistributive Taxation for 50 Years