MCViewPoint

Opinion from a Libertarian ViewPoint

Posts Tagged ‘Skin in the Game’

Ten Reasons Why Governments Fail | Mises Wire

Posted by M. C. on November 25, 2018

https://mises.org/wire/ten-reasons-why-governments-fail

Here are ten reasons why:

I. Knowledge

Government policies suffer from the pretense of knowledge . In order to perform a successful market intervention, politicians need to know more than they can. Market knowledge is not centralized, systematic, organized and general, but dispersed, heterogeneous, specific, and individual. Different from a market economy where there are many operators and a constant process of trial and error, the correction of government errors is limited because the government is a monopoly. For the politician, to admit an error is often worse than sticking with a wrong decision – even against own insight.

II. Information Asymmetries

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Skin in the Game – LewRockwell

Posted by M. C. on November 8, 2018

if one doesn’t pay federal taxes, why should he be happy about a tax cut? What’s in it for him? In fact, those with no skin in the game might see tax cuts as a threat to their handout programs

Here’s how to see through this charade: Suppose a politician told you, as a homeowner, “I’m not going to tax you. I’m going to tax your land.” I hope you wouldn’t fall for that jive. Land doesn’t pay taxes.

https://www.lewrockwell.com/2018/11/walter-e-williams/skin-in-the-game/

By 

In describing the GOP tax cuts, House Minority Leader Nancy Pelosi said that they and bonuses American workers were getting were “crumbs.” They were “tax cuts for the rich.” Some argued that the tax cuts would reduce revenues. Pelosi predicted, “This thing will explode the deficit.” How about some tax facts?

The argument that tax cuts reduce federal revenues can be disposed of quite easily. According to the Congressional Budget Office, revenues from federal income taxes were $76 billion higher in the first half of this year than they were in the first half of 2017.  Read the rest of this entry »

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