Regulating Systemic Risks

To the Editor: Peter Wallison masterfully exposes the pitfalls in Rep. Barney Frank’s proposal to create a “systemic risk regulator” (“Congress Is the Real Systemic Risk,” March 17). But it’s worth emphasizing that we already have an excellent regulator of systemic risks: the market. Because participation in any aspect of the market is voluntary, each…

Prosperity Through Destruction?

German drivers have latched onto a juicy new deal. Under a scheme started in January, car owners who trade in a vehicle more than nine years old for a new, greener model can expect $3,172 from the German government as well as a break from paying road tax for at least a year. Similar “scrapping…

Taxed to excess

Dear IRS, I am sorry to inform you that I will not be able to pay taxes owed April 15, but all is not lost. I have paid these taxes: accounts receivable tax, building permit tax, CDL tax, cigarette tax, corporate income tax, dog licence tax, federal income tax, unemployment tax, gasoline tax, hunting licence…

CEO Compensation

by Don Boudreaux: “Editor, Baltimore Sun Dear Editor: Because she’s “outraged by the exorbitant sums that are paid to CEOs and to upper management in the United States,” Susan Talbott asks your newspaper “to summarize the salaries and benefits paid to the top 100 CEOs in the nation” (Letters, March 4).  Her reason is that…