CATO comes to campus
Sarah Nadler | Managing Editor
Last Updated:11/20/09 Section: News
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The event featured speaker Daniel J. Mitchell, a senior fellow with the CATO Institute. He is an expert on tax reform and supply side tax policy, and an accomplished economist with experience working for the Heritage Foundation, Senator Bob Packwood, the Senate Finance Committee, the 1988 Bush/Quayle transition team and Citizens for a Sound Economy.
Dr. Mitchell began his lecture by explaining his position as a strong advocate of a flat tax and international tax competition. He believes that "equality under the law" should apply to all facets of life, especially taxation, and argues that equality does not exist in the current tax code. Dr. Mitchell used history as an example to explain how government intervention has had a negative effect on the economy. He holds that America's founders set up a small government for a reason and strongly opposes government "playing Santa Claus." In fact, Dr. Mitchell he is a fan of a government so small no tax is needed at all.
Dr. Mitchell passionately declared that there are consequences for increases in government spending, saying, "The government cannot give money to someone without first taking it from someone." He argued taxes are too high, that incomes are double taxed, and that there are too many loopholes made so the government can direct spending."
The idea central Dr. Mitchell's lecture was that the government is steering the economy in the wrong direction. He asked the audience to look at all government programs, as one will find "very slow or negative rates of return." Dr. Mitchell stressed that politicians love to spend money, yet do not understand the economic impacts of the programs they create. For example, "while expanding unemployment is politically smart it is not economically good to subsidize being out of work." Dr. Mitchell also find that benefits one gets when they retire discourage saving.
Dr. Mitchell's lecture presented complex economic theories plainly to the audience. While relying on numbers and statistics to prove many of his points, he unveiled a lively and interesting take on economic history made the event both educational and enjoyable. Dr. Mitchell admitted his favorite website is IRS.gov.
Editors note: Dr. Mitchell received his Ph.D. in economics from George Mason University
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