Data Show That Poverty in the U.S. Was Plummeting-Until Lyndon Johnson Declared War On It | Daniel J. Mitchell
Bad tax laws also discourage labor. High marginal tax rates penalize peoplefor being productive, and this can be especially counterproductive forentrepreneurship and innovation. Still, we shouldn't overlook how government discourages low-income people from being productively employed. But the problem is more on the spending side of the fiscal equation.
Lost in the media's obsession with the impeachment circus last week was Federal Reserve Chairman Jerome Powell's testimony on the state of the economy before the Joint Economic Committee. In his testimony, Powell warned that when the next recession inevitably occurs, the U.S.
Pacific Gas & Electric (PG&E), an investor-owned utility company serving 16 million customers primarily in Northern California, cut the flow of electricity to 800,000 of those customers last week in what it has deemed "public safety power shutoffs."
Socialism is extremely in vogue. Opinion pieces which tell us to stop obsessing over socialism's past failures, and start to get excited about its future potential, have almost become a genre in its own right. But ultimately, the contemporary argument for socialism boils down to: "next time will be different because we say so."