Category: Taxes

Joe Stiglitz Essay on Martin Luther King and inequality

My colleague Michael Manove forwarded this article which is worth reading and pondering. It is available directly at the New York Times at the link below. Two pages. http://opinionator.blogs.nytimes.com/2013/08/27/how-dr-king-shaped-my-work-in-economics/?_r=0 The Great Divide August 27, 2013, 8:58 pm 167 Comments How Dr. King Shaped My Work in Economics By JOSEPH E. STIGLITZ “I had the good […]

#5 “Let the Children and Grandchildren Pay?”

Time to Change the Tax Discussion #5 This is theĀ  fifth and final posting in a five part series about taxes. Every time congress passes legislation to increase public spending, they should have to specify which taxes they favor increasing to balance the budget. If not, then congress should have to openly discuss why they […]

#4 State Tax Rates are Not Related to State Income or Growth

Time to Change the Tax Discussion #4 This is the fourth in a five part series about taxes. It hasĀ  become common in the media to argue that state income or sales taxes cannot be increased or it will dampen incentives and hurt the state or local economy. While this might be true at sufficiently […]

#3 Tax Bads (or at least don’t subsidize them!)

Time to Change the Tax Discussion #3 This is the third in a five part series about taxes. Introductory economics tells us that when the government taxes something, unless it is perfectly inelastically supplied or demanded, the tax will cause a distortion in a market and reduce the taxed activity. For most things (labor, profits, […]

Be Ready for the Trillion Dollar Coin!

In case you have not been paying attention, there is growing sentiment in favor of the Platinum Coin Seigniorage (PCS) and the Trillion Dollar Coin. Here are two solid posts on it, one by economist Paul Krugman, the other by Philip Diehl, former director of the US mint . The crux of the issue is […]

#2 Include Social Security and Medicare taxes when discussing tax burdens

Time to Change the Tax Discussion #2 This is the second in a five part series on Taxes. Far too much of the discussion of tax burdens has focused on the federal income tax rates while the federal payroll taxes – Social Security and the Medicare tax – get minor attention. This was epitomized by […]

All Taxes and Budgets Should be Expressed as Dollars per Person

Time to change the discussion #1 This is the first of five posts on my blog on how discussion of taxes and budgets in the US needs to change to improve decision-making. Recent political debate and the media throws around costs of millions, billions and trillions of dollars even though there is no easy way […]