At least half of the popular fallacies about economics come from assuming that economic activity is a zero-sum game, in which what is gained by someone is lost by someone else. But transactions would not continue unless both sides gained, whether in international trade, employment, or renting an apartment.

All the political angst and moral melodrama about getting 'the rich' to pay 'their fair share' is part of a big charade. This is not about economics, it is about politics.

Money goes out first to pay expenses and then comes back as profits later - if at all. The high rate of failure of new businesses makes painfully clear that there is nothing inevitable about the money coming back.

The income tax has spawned an intrusive bureaucracy, creating so much complexity and red tape that millions of ordinary citizens have to go get some accountant to fill out the forms for them - and then sign under penalty of perjury that it was done right. If you knew how to do it right, you wouldn't have to go to somebody else to have it done, would you?

Neither your life nor my life, nor the future of this country, will be affected in the slightest by whether Linda Tripp is naughty or nice. But if any president is able to commit crimes with impunity by using the vast powers and perquisites of his office to cover up, then we will have a danger of corruption and abuse of power that can only grow with the passing years and generations.

We seem to be getting closer and closer to a situation where nobody is responsible for what they did but we are all responsible for what somebody else did.

As taxpayers, we have quietly accepted the fact that our taxes will be spent to pay big bucks for all sorts of ugly, twisted metal to be displayed in front of or inside government buildings, in the name of 'art' that was obviously never meant to give the public any enjoyment and often represented a thumbing of the artist's nose at the public.