One of the most contentious but also consequential debates in economic policy is on whether or not to raise, maintain, or lower the minimum wage, and by how much. There are a great many arguments that circulate about the minimum wage and its effects on the economy, but few that are backed by meaningful data … Continue reading American Economy, Meet Minimum Wage
There's a minor debate always ongoing about how we ought to tax income from capital gains, which is at present taxed separately from ordinary income, at preferential rates. There have been many proposals, such as eliminating the preferential rates or taxing gains on a mark-to-market basis, which is tricky since share prices tend to fluctuate … Continue reading Retrospectively Calculated Capital Gains Tax
In the 1960's, a period of rapid economic growth, falling unemployment, and accelerating inflation, liberals and progressive set out to make improvements in the social safety net, installing some lasting and well known programs such as Medicare and Medicaid. Various other things were achieved in that period, including acts which advanced the causes of environmental … Continue reading The Minskyite Employer of Last Resort
When I last wrote about Medicare For All, I had some critical things to say about its feasibility and affordability. I wrote that in order to finance the system the government would need to greatly raise taxes on middle income, such as through regressive payroll taxes. Here I will demonstrate what I consider to be … Continue reading The Least Unforgiving M4A Fiscal Scenario
I recently thought of a new way to measure the burden of the national debt, though I'm sure I'm not the first. When we measure the national debt, we typically take either gross federal debt, or federal debt held by the public as a share of gross domestic product. When we do that, we come … Continue reading Putting the National Debt Into Perspective
In early January 2003, a interesting bill was referred to the House Ways and Means Committee: H.R.269 Simplified USA Tax Act of 2003. This bill, sponsored by then-Representative of Pennsylvania Phil English, would, among other things, replace the federal income, estate, and gift taxes with a "progressive consumption tax." In the other words, a tax … Continue reading Discussing the Progressive Consumption Tax
Progressives and social democrats in America have espoused the virtues of comprehensive social insurance, universal healthcare, universal college, universal housing, among other things. I believe generally liberals and socialist have two different core reasons for their support of public programs like these, and I'd like to discuss my views and approach to public policy with … Continue reading Social Capital and Public Policy
"Justice is a certain rectitude of mind whereby a man does what he ought to do in the circumstances confronting him" —Thomas Aquinas. According to their website, part of the Justice Department's mission is to "seek just punishment for those guilty of unlawful behavior." In my view, the idea that people who do wrong should … Continue reading Justice and Determinism
