Policy
... See moreThe original Trump tax cut and spending expansion pushed up the deficit at a time when the economy did not need a stimulus. The deficit then surged with the first COVID relief bill, but that made sense given the impact of the economic shutdown. By contrast, massive additional stimulus under Biden, when the economy was already rapidly recovering, wa
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
The Iron Law of Oligarchy: every field of human endeavor, every kind of organization, will always be led by a relatively small elite.
If the watchword of the market economy is profit, the watchword of bureaucracy is growth.
Long-term budgets. Long-term budgets save money. Whitehall now works on opposite principles: normal government budget processes do not value speed and savings from doing things fast. They are focused on what Parliament thinks this year. This makes it very hard to plan wisely and wastes money in the long-term.
... See moreThe typical large business 20 years hence will have fewer than half the levels of management of its counterpart today, and no more than a third the managers. In its structure, and in its management problems and concerns, it will bear little resemblance to the typical manufacturing company, circa 1950, which our textbooks still consider the norm… th
The child credit is income redistribution that does nothing to change incentives to work or invest.
... 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
“After the 1920s tax cuts, it was not simply that investors’ incomes rose but that this was now taxable income, since the lower tax rates made it profitable for investors to get higher returns by investing outside of tax shelters. The facts are unmistakably plain, for those who bother to check the facts. In 1921, when the tax rate on people making
... See moreThomas Sowell, Tax Cuts for the Rich
High marginal tax rates and heavy average tax burdens -- the outcome of New York’s traditional emphasis on progressivity -- have discouraged job creation, ultimately hurting the very low-income workers that progressive taxation was designed to favor.