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Category Archive for 'Taxation'

Taxing the “Rich”

Since 2006, as my real income has fallen by 25%: I have paid about $45,000 in property taxes to our local communities and school districts I have paid over $50,000 in state income taxes I have paid over $110,000 in federal income taxes I have paid over (via not just my share, but the real incidence) $200,000 […]

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Tax Riddle, or Not?

I have read dozens of times, and have even espoused the view myself, that the American electorate gets ill at the idea of the government directly taxing THEM. Sure, when taxes are proposed on “other people” like “the rich” the electorate does not seem to have a problem with it, but when we are talking […]

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End Nonprofits

We read in the news recently that the Crimson Tide Foundation has paid off the rest of head football coach Nick Saban’s $3.1 million home. If there is ever “evidence” that the entire notion of an entity deserving “non-profit” status has gone off the rails, this is it. Presumably organizations are granted non-profit status because they […]

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Let the Food Fight Begin!

This research paper hit my desk this morning: Positive Long Run Capital Taxation: Chamley-Judd Revisitedby Ludwig Straub, Ivan Werning  –  #20441 (EFG PE)Abstract:According to the Chamley-Judd result, capital should not be taxed inthe long run.  In this paper, we overturn this conclusion, showingthat it does not follow from the very models used to derive them.For […]

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The world emits about 35 billion tons of carbon dioxide each year (this is from a warmist site). The US “contribution” to this amount is about 6 billion(this is a high end estimate). US emissions have been flat for two decades. The highly reliable IPCC estimate is that a ton of CO2 does about $30 […]

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He just wants to fix it. No comments from this peanut gallery. But Scott Sumner hits a 600 foot homer, do read the whole thing: Here’s what Yglesias misses. Unequal consumption matters because of opportunity cost—another bedrock of economics. The resources that went into that $200 million yacht could have produced lots of other goodies […]

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Readers who are following the adulation of Thomas Picketty’s Capital in the 21st Century do not need much information about the book.  One major theme of the book is that if the rate of return on “capital” exceeds the overall rate of return in the entire economy, then it follows that the rich and elderly gain in […]

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Let me offer a few simple, cranky, thoughts on taxes today. (1) I like to believe I am not the dumbest person on the planet. I also happen to be a professional economist. And I have absolutely NO IDEA going into the year how much in tax obligations I owe to the government at all […]

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That would be people like my wife who continue to work. Here is how her income is taxed: Federal tax rate of 28% (her wage puts us in this bracket) State tax rate of 6.5% Social security – her “share is 7.65%, her employer pays 7.65%, but since we know that the incidence of this […]

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It is typically asserted that on utilitarian grounds we can and should redistribute wealth from the richer to the poorer. On its face and all-alone the argument makes some sense. The argument goes like this: since there is diminishing marginal utility of wealth, a dollar to a rich person is worth less than a dollar […]

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