Featuring Tim Lynch, Director, Project on Criminal Justice, Cato Institute; Michael Tanner, Senior Fellow, Cato Institute; and Matthew Feeney, Policy Analyst, Cato Institute; moderated by Peter Russo, Director, Congressional Affairs, Cato Institute.
A limited constitutional government calls for a rules-based, freemarket monetary system, not the topsy-turvy fiat dollar that now exists under central banking. This issue of the Cato Journal examines the case for alternatives to central banking and the reforms needed to move toward free-market money.
Two long wars, chronic deficits, the financial crisis, the costly drug war, the growth of executive power under Presidents Bush and Obama, and the revelations about NSA abuses, have given rise to a growing libertarian movement in our country – with a greater focus on individual liberty and less government power. David Boaz’s newly released The Libertarian Mind is a comprehensive guide to the history, philosophy, and growth of the libertarian movement, with incisive analyses of today’s most pressing issues and policies.
Featuring Daniel J. Mitchell, Senior Fellow at the Cato Institute and coauthor of Global Tax Revolution: The Rise of Tax Competition and the Battle to Defend It; and Richard Rahn, Former member of the Cayman Islands Monetary Authority;
Politicians from high-tax nations, working through international bureaucracies such as the Paris-based Organization for Economic Cooperation and Development, are trying to undermine tax competition by persecuting so-called tax havens. Treasury Secretary Timothy Geithner recently testified that the Obama administration intends to push legislation to penalize Americans who utilize these jurisdictions. European politicians, meanwhile, have announced that they want to use the upcoming G-20 Summit to launch an attack on low-tax jurisdictions. Governments do not like tax havens because it is more difficult to enforce oppressive tax laws in a globalized economy. Any assault against tax havens, however, would be bad news for the global economy. Without the pressure of tax competition, politicians would raise tax rates, wiping out many of the pro-growth reforms of recent decades. Such a campaign would also undermine the U.S. economy, both because the United States is a tax haven for foreign capital and because most major “offshore” centers are conduits for investment in the American economy. To learn more about these issues, please join Cato scholar Dan Mitchell and former member of the Cayman Islands Monetary Authority Richard Rahn to review the myths and realities about the role of tax havens in the global economy.