Quick shot before today’s longer post: we have a new champion for the book that everyone buys and no one reads. Three guesses as to what it is and the last two don’t count.
Tag Archive: Economics
The economy contracted almost three percent in the first quarter, the worst quarter since the end of the Great Recession. Maybe it’s a blip, but that is a scary number. I’m sure the Obama defenders will blame it on the cold weather but I’m pretty sure we had cold weather in the past. Eventually, this will be Bush’s fault. Or “austerity”.
This is horrible news, whatever your politics. While I oppose Obama, I want the … Read more
You remember the “Summer of Recovery”? That was back in 2010 when the combination of fiscal stimulus and Obama frisson was supposed to get the economy moving again. Since then, we’ve been waiting and waiting for a full recovery, bumbling along at 2% growth with job creation barely keeping up with population. But I’m sure an economic boom is just around …
The Commerce Department said on Thursday that the nation’s overall output
We’ve been hearing for the last couple of years that the Republican congress won’t do anything (with “do anything” defined as “unilaterally cave in to the President’s entire agenda”). But doing nothing cuts both ways. It’s not like the Democrats are proposing a raft of great laws that would save our country. And in many cases, they are opposing them for stupid reasons:
A high-profile Senate bill that would dismantle Fannie Mae and Freddie Mac
Building on Alex’s post on income inequality, I note that Mathew Yglesias published this over at Vox. Yglesis advocates for raising the top marginal rate on salaries above $10 million to 90% and the inheritance tax of estates over $10 million to 90%. His argument is that the Laffer Curve is largely bunk and there is no evidence that raising incomes that high would seriously hurt the economy, at least if it were confined to … Read more
Fresh off their recent report on Obamacare that predicted a decline in the workforce of 2.5 million (partially as a result of employer cutbacks, mostly as a result of people leaving jobs due to high effective marginal rates), the CBO today issued a report on the effect of raising the minimum wage.
Raising the U.S. minimum wage would lead to the loss of about half a million jobs by late 2016 but lift almost a
I know the Left likes to mock the Heritage Foundation’s Economic Freedom Index as some of Koch Brothers-libertarian-Rush Limbaugh-neocon conspiracy garbage. But, as I’ve argued before, if you want to start looking at the countries that are doing well economically, it’s a good place to start. Almost every country at the top of the rankings is doing well; almost every country toward the bottom is doing poorly. Over the years that Heritage has been tracking … Read more
Liberal pundits and advocates are constantly talking about a “living wage”. The last few years have a been a constant drumbeat about how we need to raise the minimum wage, with some now advocating that Obama should just bypass Congress and do it by executive fiat. It’s even gotten to the point where America’s Dumbest Intellectual deceitfully disputes the basic economic consensus that increasing the minimum wage increases unemployment.
(That last part is not complicated. … Read more