The article argues that recent executive overreach and politicization have severely undermined established norms of U.S. civil-military relations. To restore professional standards, the incoming Congress must actively exercise its oversight powers, moving beyond mere criticism to demanding transparency in defense policy and personnel decisions. Key reforms include enforcing meritocratic promotion processes, requiring documented justification for senior officer removals, and preventing the partisan use of the military. These actions are crucial for bolstering public trust and ensuring the military remains a nonpartisan instrument of civilian control.
The High Costs of Taxing Wealth
English Summary
The article argues that wealth taxes, using California's Proposition 40 as a case study, are economically counterproductive, failing to raise net revenue while significantly dampening economic activity. Key evidence points to capital flight, where high taxes incentivize wealthy individuals and businesses to leave, thereby eroding the tax base and reducing overall investment. Furthermore, the administrative complexity of valuing non-liquid assets creates massive enforcement burdens and disputes. Policy-wise, the analysis concludes that such taxes send a detrimental signal to entrepreneurs, stifling the productive capital necessary for innovation and technological breakthroughs, and ultimately harming job growth and wages.
中文摘要
本文論證，財富稅（以加州第40號提案為案例）在經濟上是產生反效果的，不僅無法提高淨收入，反而會嚴重抑制經濟活動。關鍵證據指出，高稅率會誘發資本外逃，促使富裕個人和企業遷出，從而侵蝕稅基並降低整體投資。此外，對非流動資產進行估值的行政複雜性，會造成巨大的執行負擔和爭議。從政策角度來看，分析結論認為，此類稅收對企業家傳遞了不利訊號，抑制了創新和技術突破所需的生產性資本，最終會損害就業增長和工資水平。
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