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Taxation

Why New International Taxes for Development Are Inefficient

International aid only has a limited impact on the fight against poverty, as opposed to trade and entrepreneurial capitalism. Meanwhile, international bureaucrats are still busy crafting new taxes for development assistance. In 2000, the United Nations Development Programme started talking about Innovative Financing for Development (IFD), a complex set of spending projects and organizations in the field of development assistance that are to be funded mostly by new taxes.

Viewpoint on US Government Finances

Since the adoption of a law to that effect in 1917, the debt of the American federal government is subject to a “ceiling.” Barring an agreement from Congress, the current ceiling should be reached during the month of October. This is a structural problem, not a cyclical one. Even if we managed to balance revenue and spending and eliminate budget deficits, it would not spell the end of the basic imbalance in American government finances, which is due to the ever-growing financial obligations stemming from social programs.

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