One often hears the claim that, “top marginal tax rates were once 90% and the US grew like gangbusters.” One may have also heard the expression, “the optimal top marginal tax rate is 70%.” With regard to the first claim – let’s ignore the macroeconometric problems with making such assertions. We can also ignore the […]
Category Archive for 'Taxation'
Let’s tax corporations more. After all, they have plenty of profits. OK, I agree. Then I hope you all get on board with the following proposal. Let’s impose a 10% tax on all “schools’” revenues. After all, schools, especially places like where I work, take in BILLIONS of dollars of revenue. They employ and they […]
Try this on for size: Evidence indicates that the price elasticity of demand for labor is quite high, at least 3. That is, an increase in average wages of 1% would lead to at least a 3% decline in the number of hours of work demanded by employers. Labor economists believe, however, that the price […]
Well, among the many reasons that I no longer favor it is that I’ve started to realize I live in big boy world, and not the fantasy world of good economics I thought about when I first became a professor: Schuerhoff, Marianne, David Zetland and Hans-Peter Weikard (2013). “The life and death of the Dutch […]
from Tim Taylor. Here are some older thoughts on mine on taxing the rich more. And here.
Just wanted to update my readers on the amount of greed in the economy. In March of this year, the average retail price of gasoline was $3.85. In the first week of November, the average retail price of gasoline was $3.34. So, I guess gas and oil companies are feeling 13% less greedy these days! […]
Some supporters of the minimum wage do so on the grounds that even it is costly, that corporations simply “pass on the cost” to their customers, who are so obviously different and richer than the workers “needing” the pay increase. Fine. Believe it. But riddle me this. What do these same people think about putting […]
Of course there are many. But for my purposes let’s not think of the impacts on capital formation and entrepreneurial innovation. I am thinking from a populist perspective. The problem with raising top income tax rates is that they are not retroactive. I mean that. Among the strongest supporters of raising top tax rates that […]
That’s what armchair tax theorists are. Consider an example from the book Garbology: Fifteen cents [of a tax] is a relative pittance, but it does add up over hundreds of bags, and so it had an immediate impact on the behavior of Irish consumers … … The tax was never much of a burden because relatively […]
The EPA, rightly in my view, understands that storm water runoff is one of the major problems facing our waterways. But that’s about where their “rightness” ends. They’ve imposed yet another unfunded mandate, this time on states in the Chesapeake Bay watershed. Read this piece to see how it all shakes out. state lawmakers exempted […]