Christian Baaki
@christianbaaki
Christian Baaki
... See moreAmerica cannot redistribute its way to prosperity. Aggressively raising taxes on the wealthy by 1.5% of GDP ($5 trillion over the decade) and redistributing those funds equally to every American would provide just $1,500 per person annually. Certainly helpful, but no substitute for the rising incomes produced by strong economic growth.
Thus, revenue
... See moreSince then [2017], the federal regulatory army has continued to expand, with an annual budget now exceeding $80 billion. Over the past eight years, federal agencies have imposed some 550 major new rules—each carrying an estimated economic cost of more than $100 million per year.
Moreover, without the crush of new federal regulations, businesses cou
... See moreThe method [super normal returns model] wrongly assumes that taxes on quasi-rents and other transitory earnings due to imperfect competition or risk premiums cannot be shifted to labor. Earnings in these sectors are clearly sensitive to tax. Taxes on returns in these sectors alter output, prices, and wages, and thus fall heavily on labor, and not,
The impact of the corporate income tax on the economy is much larger than the actual amount of taxes collected. Additionally, the overall size of the wage base is many times the amount of the corporate taxes collected, so a small increase in the corporate tax can have a relatively large effect on wages.
We have a public imagination that cannot conceive of what exactly to do with children, especially smart children. We fail to properly respect them through adolescence, so we have engineered them to be useless, and so they shuffle through a decade of busywork. Partly, the length of schooling has increased simply because it could—because we no longer
... See moreSimon Sarris • School Is Not Enough
Since 1970, the U.S. has massively increased educational expenditures, mostly to expand school administration, which has vastly outpaced the growth of both students and teachers. Today, taxpayers spend more than $15,000 per public school student. Yet test scores have largely flatlined and, in some areas, even declined.
... See moreNineteenth-century educational reformers wanted schools as efficient and impersonal as America’s impressive manufacturing facilities, so they established a system that treats children like industrial workers. Under the watchful eye of an overseer, students toil silently until a bell signals their opportunity to eat and briefly socialize. Unlike fac
Economists have come to recognize that there is no living thing called a corporation. A corporate income tax is a double tax upon stockholders, first as a “corporation,” and next upon their personal income.
... See moreCongress can manipulate baselines, set fake expiration dates, and ignore their own budget rules—but they can't repeal the laws of economics or math. Deficits will continue to rise—from $1.8 trillion today to a projected $3.6 trillion in a decade. Another $25 trillion in 10-year borrowing will push interest rates higher and bury the budget under tri