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Category Archive for 'Taxation'
As you probably all know, social security is a transfer program, not a retirement program. Aside from eliminating the program entirely, which advocating for would have you removed from polite company, here are some things to consider about it. The system is in far better shape than Medicare. Medicare is the big elephant in the […]
So, New York State (who is that, exactly?) passes an historic increase in the minimum wage. It argues, implicitly, that raising costs to $15 per hour will benefit workers and not have the adverse consequences economists warn about. Of course, there are myriad adverse consequences, not just unemployment, so keep your eye on the ball. […]
A tax on university endowments and a tax on college tuition would seem to me to be pretty efficient and equitable taxes. On the equity side, the wealthiest people in America work for, have graduated from, attend and will attend universities – so it targets the 1% pretty well and almost all people in the […]
I’d like my readers and students to briefly examine the economic literature to determine what the “consensus” is on these two questions. What is the economic incidence of the payroll tax and other “benefits” that are mandated to be paid by employers to employees? For example, the total payroll tax amount imposed by the government is 15.3%, […]
This result was surprising, sure to get lots of news coverage: It shows that despite a rise in measured capital-labor ratios, labor-augmenting technical change in the US has been sufficiently rapid that effective capital-labor ratios have actually fallen in the sectors and industries that account for the largest portion of the declining labor share in income since 1980 Paper […]
As a once-sensible economist I supported a “revenue neutral carbon tax” as one major prong of global warming strategy. The simple idea is that such a program would qualify as “No Regrets.” If CO2 turns out to be really bad, then the tax assures that we’ve properly considered those damages in our day to day […]
Posted in Taxation on May 22nd, 2015
From Last Call: By 1910 the federal government was drawing more than $200 million per year from the bottle and the keg — 71 percent of all internal revenue and more than 30 percent of federal revenue overall. Only external revenue — the tariff – provided a larger share of the federal budget The federal government […]
My former professor from graduate school is coming to U of R tomorrow: Speaker to Address Carbon Emission Reduction “Robert Frank, the H.J. Louis Professor of Management and professor of economics at Cornell, will present “Reducing Carbon Emissions Will Be Easier Than Many People Think” at 5 p.m. Tuesday, April 7, in Morey Hall, Room […]
Just finished doing my taxes. Yay, that’s both enjoyable and an incredibly valuable use of my time. I spent only about three hours so far this year getting my paperwork together, shopping for low-priced software, asking for advice, filling out my taxes, making a couple of phone calls and adjusting my withholdings for next year […]