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Single-Issue Election
futureofcapitalism.com

Daniel Henninger has a good column in today's Wall Street Journal about economic growth and the presidential election:

Mr. Obama was exactly right in Cleveland when he said economic growth "is the defining issue of our time," that his and his opponents' views on growth are fundamentally different and "this election is your chance to break that stalemate." This he gets.

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Dan Henninger on Taxes
futureofcapitalism.com

A Daniel Henninger column in today's Wall Street Journal gives voice to the idea that the politicians in Washington don't really represent the taxpayers:

If voters ultimately feel more secure with a Barack Obama and the like designing a national itinerary for some 300 million people in 50 states, then certainly one should vote for letting taxes rise now on one class of Americans and imposing a VAT next year on everyone. They need a whole lot of money, so give it to them to the horizon. We work, they decide.

The alternative vision is that to compete for the next 50 years, the U.S. is going to need a tax structure that keeps more of the nation's decisions about using its wealth in the hands—and minds—of millions of intelligent citizens, from any economic class. They work, they decide.

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Capitalism Saved the Miners
futureofcapitalism.com

Daniel Henninger has an intriguing article in the Wall Street Journal under the headline "Capitalism Saved the Miners." He writes, "profit = innovation," crediting the profit motive with inspiring the invention of the drill bit used to rescue the miners.

In fairness the Chilean government did a lot to orchestrate the rescue, and the same capitalist system that rescued the miners is the one that sent them down (or gave them the choice to go down) into the dangerous mine to begin with. And while profit is a powerful motive for innovation, it certainly isn't the only one; people who work on innovations related to health or science may be motivated by things such as fame, peer approval, competitiveness, intellectual challenge, or a desire to help other people. All those caveats, aside, Mr. Henninger's piece is worth a look.

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Dan Henninger on Harry Wilson
futureofcapitalism.com

The Wall Street Journal's Daniel Henninger pens a love note to New York's Republican candidate for comptroller, Harry Wilson. Mr. Henninger calls it "the most important 2010 election you've never heard of." If you've been reading FutureOfCapitalism, you have heard of it: We interviewed Mr. Wilson back in March and wrote about it here.

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Daniel Henninger on 23%
futureofcapitalism.com

Daniel Henninger has a column in the Wall Street Journal explicating the way that 23% top income tax rate in the Bowles-Simpson Deficit Reduction Commission proposal moves the goalposts in the tax policy debate. It's a point that was made here eight days ago, when the proposal first came out. But Mr. Henninger can really write.

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Two on Taxes
futureofcapitalism.com

The president of the Club for Growth, Chris Chocola, has an op-ed in USA Today about the death tax: "Does the money you earn over the course of your life belong to you, or does it really belong to the government, which generously allows you to keep some of it for a while?"

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Daniel Henninger

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