This political season, Americans are skittish about capitalism. Some fear it will create inequality and wage stagnation, while others simply lack clarity on what capitalism really is. Amid all this uncertainty, we need to remind the American public of two things. First, government cronyism, not the free market, is the source of the worst unfairness in the economy. Second, cronyism is not a symptom of capitalism, but its opposite.
Richard Morrison in manager of communications for the Tax Foundation.
March 11, 2016, 10:23 AM EST
July 31, 2013, 2:18 PM EDT
Ending the reduced tax rates on capital gains and dividends, one of many options being considered as part of major tax reform legislation, could deal a dramatic blow to the U.S. economy and actually end up losing revenue for the Treasury.