In a world where taxes are used to finance government, possibilities for revenue include sales taxes, flat taxes and others. But among the many competing options, some are decidedly worse than others. The capital gains tax is one of the worst sources of revenue, since it taxes the very tool used ultimately to create higher wages for workers and increased standards of living. (more…)
The more something is taxed, less of it is produced. The capital gains tax punishes the very thing that encourages growth in the economy. Consequently, less wealth is created to invest in worthy enterprises that benefit workers, business owners and investors alike. (more…)
Prevailing wage laws discriminate against one group of workers in favor of another, mandating wage rates which should be determined by the market. They limit employment opportunities for lowerskilled workers and inflate the cost of government construction projects at taxpayers’ expense. (more…)
Introduction and Summary
“Prevailing” wage legislation requires that a particular wage rate be paid to laborers working on government construction projects. The rate is determined through government surveys and is usually found to be substantially higher than the market rate. Many politicians and unions argue that paying the “prevailing” wage rate is beneficial and fair because it provides a just wage for hard-working families, results in quality construction and provides a responsible example for construction firms paying lower rates on private projects.
The federal “prevailing” wage law was adopted in (more…)
Last week, President Bush responded to the US Supreme Court’s decision on eminent domain, known as Kelo, with a decision of his own: an executive order to limit the federal government’s ability to take private property in order to transfer it to another private owner.
However, the order contained significant (more…)