Cato Podcast

Is your financial life really private? In this eye-opening episode, Cato Institute's Norbert Michel and Nicholas Anthony take us deep into the world of financial surveillance, starting with the 1970 Bank Secrecy Act. What was originally sold as a tool to catch tax cheats has quietly evolved into a sprawling system of government oversight—with banks and financial institutions acting as unwitting watchdogs. From suspicious activity reports to the third-party doctrine, Norbert and Nicholas explain how the erosion of Fourth Amendment protections has happened largely out of public view. They break down the law’s legacy, how it expanded post-9/11, and why $10,000 isn’t the large sum it once was. But there's reason for optimism. With growing public awareness, privacy-focused tech, and new reform legislation finally on the table, change might be within reach. If you thought your bank account was your business, think again—this episode will make you see it in a whole new light.Show Notes:Norbert Michel and Jennifer J. Schulp, "Revising the Bank Secrecy Act to Protect Privacy and Deter Criminals" Policy Analysis No. 932, July 26, 2022Nicholas Anthony, "The Right to Financial Privacy" Policy Analysis No. 945, May 2, 2023Norbert Michel, "The Bank Secrecy Act Is a Bigger Threat than FISA" Forbes, April 17, 2024Nicholas Anthony and Naomi Brockwell, "The Illusion of Financial Privacy" Reason.com, May 30, 2024 Hosted on Acast. See acast.com/privacy for more information.

In this episode, Cato Institute's Scott Lincicome and Adam Michel dive deep into the sweeping new legislation—dubbed "The One Big Beautiful Bill"—moving through Congress. They break down what’s at stake as key provisions of the 2017 tax reform are set to expire, unpack the bill’s complex mix of tax cuts, new carve-outs, and industrial subsidies, and examine why temporary tax policy and policy uncertainty could derail economic growth. Plus, they confront the fiscal fiction behind tariffs as a reliable revenue source and make the case for a cleaner, more permanent pro-growth tax system. If you're looking for a sharp, honest take on where tax and trade policy stand in 2025—and where they should go—this one’s for you.Show Notes:Adam Michel, "Republicans’ One, Big, Beautiful Tax Bill Needs a Makeover" Cato.org, May 14, 2025Adam Michel, "Four Things the Senate Can Do to Improve the House Tax Bill" Cato.org, May 22, 2025Scott Lincicome, "Republicans Can’t Pay for Their Tax Cuts with Fantasy Revenue Sources" The Washington Post, May 27, 2025Scott Lincicome, "Trump’s Latest Tariff Idea Is Dangerously Foolish" The Dispatch, June 19, 2025Adam Michel, "Senate Big Beautiful Bill: More Growth, More Subsidies, More Debt" Cato.org, June 30th, 2025 Hosted on Acast. See acast.com/privacy for more information.

Starting July 1, we’ll be trying some new things on this feed, starting with conversations between Cato Institute scholars. We hope you’ll join us. Please consider listening to some of our other podcasts on cato.org/podcast. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.An engineer and brewer thought he would take up home distilling as a hobby, but he then learned it’s a federal crime. In Ream v. U.S. Department of Treasury, he’s fighting back. The Buckeye Institute’s Robert Alt explains. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.The housing crunch affects so many parts of the country. In Arizona, it’s harder to build than you might think. Leo Biasiucci is the Republican majority whip of the state’s House of Representatives. We talked about how best to advance flexibility for new housing. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.The people who write the rules under which we must live generally ought to be subject to accountability from voters. That’s not a controversial proposition, but how it works in practice is more complicated. Daniel Dew of the Pacific Legal Foundation comments. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.What happens when public university officials violate your free speech rights? Often, they get qualified immunity, thus shielding them from the consequences of those actions. Casey Mattox with Americans for Prosperity comments. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Psychedelics have powerful impacts on the human mind, and researchers are finding new ways to use those drugs to help people overcome mental difficulties. Do they also herald a new freedom of thought? Mason Marks of the Petrie-Flom Center comments. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Impeachment isn’t a dirty word. Gene Healy explains why Congress should consider it more often. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Textiles are everywhere, and before the Industrial Revolution, even tiny advances in textile development had massive ripple effects. Virginia Postrel traces this amazing history in The Fabric of Civilization: How Textiles Made the World. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Religious charter schools may grow in the coming years, but it’s not clear what the benefits are to the schools or religious institutions that would run them. Neal McCluskey comments. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.The world lost the great civil libertarian, journalist, and Cato scholar Nat Hentoff last week. Scott Bullock comments on his several legacies. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.What should the U.S. do to adjust to China’s rise? Tariffs and shattering the global trading system aren’t the answer, according to Scott Lincicome. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Cato Executive Vice President David Boaz answers a few questions about and related to his new book, The Libertarian Mind. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Parents might embrace their children’s independence, but how much support do those parents have in the form of local infrastructure? Andrea Keith of Let Grow explains. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Rights precede government. That’s the core of the American founding, and George F. Will argues that it’s worth preserving. His new book is The Conservative Sensibility. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.“Denial” is the single word that the Reason Foundation’s Peter Constant uses to describe the attitude many state governments have taken toward pension finance problems. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Civil disobedience over victimless crimes may be encouraged under an idea by author Charles Murray. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Ben Cohen and Jerry Greenfield are the icons better known for Ben and Jerry’s ice cream. Now they’re focusing their notoriety on ending qualified immunity. Ben, Jerry, and Cato’s Jay Schweikert comment on the campaign to end the powerful, court-invented doctrine that shields public officials from accountability. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.“Fusionism,” something of an ideological nonaggression pact between libertarians and conservatives, has fallen on hard times. Can it be reborn? Stephanie Slade of Reason discusses her new article on the subject. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.In presenting the Milton Friedman Prize for Advancing Liberty to Danish newspaper editor Flemming Rose, former ACLU president Nadine Strossen discusses the importance of unfettered freedom of speech. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Libertarianism — the philosophy of personal and economic freedom — has deep roots in Western civilization and in American history, and it’s growing stronger. Cato Institute Executive Vice President David Boaz talks about the renewed appetite for smaller government and more freedom.The Libertarian Mind: A Manifesto for Freedom by David Boaz Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Discussions of qualified immunity focus almost exclusively on police. What about when public school administrators clearly violate the rights of students? Should parents of those children be able to hold administrators accountable in civil court? Chris Kemmitt is the deputy director of the NAACP Legal Defense Fund. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.What’s the best path forward to end cannabis prohibition without loading it up with needless federal regulation? Jim Higdon is the co-founder of Cornbread Hemp and an advocate for an end to cannabis prohibition. He says the Farm Bill is the key. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.In assessing the legacy of Mitch McConnell as a Republican leader in the U.S. Senate, it’s important to include his large role in radically reducing the regulation of Americans’ political speech. Cato’s John Samples explains. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Civil disobedience may be the only avenue left for millions of Americans who just want to go about their business undisturbed. Charles Murray explains his dangerous idea in the new book, By the People: Rebuilding Liberty without Permission. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Don’t talk to the police, even if you want to help them solve a crime. James Duane says that’s the advice police and lawyers give their own children. He explains why in his new book, You Have the Right to Remain Innocent. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.The freedom to trade is morally good. Congress has sadly delegated many of its powers over trade to the White House. That poses particular risks today. Senator Rand Paul (R‑KY) discusses his efforts at reclaiming legislative power over trade. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.As many voters are licking their wounds after failing to elect the first female U.S. President, Anthony Comegna talks about how the important historical role of women on behalf of liberty is more than mere interactions with the state. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Why have five or more children? Hannah’s Children: The Women Quietly Defying the Birth Dearth by Catherine Pakaluk details the stories and reasoning of dozens of women who have gone well beyond replacement-level fertility. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky’s Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.In the long history of the ebb and flow of liberty, some examples stand out. Jim Otteson of Wake Forest University offered a few of those examples at Cato Club 200. Hosted on Acast. See acast.com/privacy for more information.

Caleb O. Brown has hosted the Cato Daily Podcast since 2007, CatoAudio since 2008, and all told has created several thousand interviews, videos, and other pieces for the Cato Institute. On his final episode, he is interviewed by Cato's Deirdre McCloskey about the art of the interview and his pending move to head Kentucky’s Bluegrass Institute. Hosted on Acast. See acast.com/privacy for more information.

It should come as no surprise to learn that when some people in the US are targeted for their speech, it does no service to your right to speak freely. David Bier and Tommy Berry explain why immigration crackdowns triggered by speech are so dangerous. Hosted on Acast. See acast.com/privacy for more information.

El Salvador is receiving prisoners snatched by the US federal government. The Supreme Court has ordered the Trump administration to "facilitate" the return of one prisoner. Ilya Somin details some of the more troubling aspects of this struggle. We spoke April 11, 2025. Hosted on Acast. See acast.com/privacy for more information.

Meta's trial for alleged monopolistic practices could change how mergers get done and if they get done. Cato's Jennifer Huddleston and CEI's Alex Reinauer comment. Hosted on Acast. See acast.com/privacy for more information.