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.
I still get buzzed when I recall that a majority of Californians looked at what Gavin Newsom allowed while mayor of San Francisco - rampant homelessness, transportation gridlock, failed public projects, a widening income gap, sidewalk needles and human, er, waste - and decided they wanted that for the whole state.
Statists occasionally get very angry about some of my views. My support for "tax havens" periodically seems to touch a raw nerve, for instance, though I guess I shouldn't be too surprised since some people are so crazy that they have even urged military action against these low-tax jurisdictions.
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."
Michael Crichton's techno-thriller Jurassic Park teaches us that no matter how advanced technology becomes, we will never be able to completely control nature. At first, it seemed like a wonderful dream: a park where once-extinct prehistoric beasts would roam as astonished visitors watched in awe.
When I'm asked for a basic tutorial on fiscal policy, I normally share my four videos on the economics of government spending and my primer on fundamental tax reform. But this six-minute interview may be a quicker introduction to spending issues since I had the opportunity to touch on almost every key principle.
In Tropico 5, you are El Presidente-the leader of a Caribbean island that is a semi-democratic banana republic. Your primary objective is to preserve your rule by micromanaging your country's economy to appease your citizens, the Tropicans. If they are dissatisfied with your rule, they can vote you out in the next elections or stage a coup d'état, costing you the game.
When Will Politicians Admit That Social Security Is on a Collision Course with Math? | Brenton Smith
When you combine how little we talk about the program with how little we do about the broken mechanics, we have a program that is on autopilot. Every year the mechanics drive payouts higher. It collects more as wages rise and the cap on taxable wages increases.
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."
Despite a booming economy and a record-low unemployment rate nationally, at least one state has been working overtime to ensure its work-capable food stamp recipients don't have to work. Current law requires non-elderly, able-bodied adults without dependent children to work or participate in work-related activities, such as education and job training programs, for at least 20 hours per week in exchange for food stamp benefits.
A reasonable and useful reading of Adam Smith's Wealth of Nations is to see it as a railing against the guilds and their control of the medieval economy, followed by an insistence that we must instead have a market economy, one with free entry into lines of work and production.
A move to territorial taxation for citizens would ensure that US citizens abroad have a wider range of choices and consider an eventual move back to America. By nixing an absurd and cumbersome system, policymakers can restore fairness and decency for citizens everywhere.