I confess that I was hoping that 2011 would be 1995. After all, we had just climbed out of a serious recession in the earlier part of that decade – dwarfed by the more recent one of course, but big […]
Economics
The Triumph of Politics Over Economics
In this article, David Stockman, although both a hard-money man and a social liberal, comes out against continuing the G. W. Bush tax cuts! Read it to find out why. Related: “The Triumph of Politics Over Economics” by Nick Gillespie at Reason.com
For and Against the Negative Income Tax
Two different perspectives on the negative income tax, a less bureaucratic substitute for the Earned Income Tax Credit. Guy Sorman is for, Jim Manzi is against. I’m not sure where I stand. (Don’t you welcome a little ambiguity for a […]
OASDI Taxes Are Also Unconstitutional
If this court is right, OASDI taxes are also unconstitutional. If it is upheld, I will so interpret. And the payroll tax is far more ‘regressive’ than the income tax. On the other hand, I am fine if we want […]
Inflation
Michael Brendan Dougherty says that the Fed has, under Bernanke, pursued an expansionist philosophy of letting asset prices rise and never trying to limit or deflate “bubbles.” This is a different one than it followed in the Paul Volcker era, […]
Back to the Nineties
The current election results are making us remember 1994, when also, under a Democratic President, and with health care issues in the air, the Republicans won control of the U S House of Representatives. I’m concerned with social issues, and […]
Four Deformations of the Apocalypse
David Stockman understands the difference between what they used to call fiscal conservatism and what they now call fiscal conservatism. Given the modern definition, I’m a “fiscal moderate.” Related: “Four Deformations of the Apocalypse” by David Stockman at NYTimes.com
American Christianity – Soon a Phenomenon of the Educated?
For years and years we have been fed with the story that orthodox Christianity and other conservative and demanding religions were primarily, though not exclusively, the domain of the less educated, and that the highly educated were inclined toward more […]
The New Suburbs, a Plane Ride Away
Does anyone air-commute from Phoenix to LA or OC? I”ll bet they do! Read: “The New Suburbs, a Plane Ride Away” by Nick Wingfield via WSJ.com.
Maoist War Against India’s Criminalized Capitalism
Capitalism based on relationships with persons in the state who can dispense or withhold permissions or favors is crony capitalism. Capitalism with too weak a government or moral standards is gangster capitalism. Here’s an example of gangster capitalism justified by […]