taxes

a-marina-filled-with-luxurious-yachts-with-an-azure-sea-backdrop-epitomizing-the-maritime-lifestyle-of-the-wealthy-stockpack-adobe-stock
A marina filled with luxurious yachts, with an azure sea backdrop, epitomizing the maritime lifestyle of the wealthy
A marina filled with luxurious yachts, with an azure sea backdrop, epitomizing the maritime lifestyle of the wealthy

Who Is Creating More Value For Society? Jeff Bezos or Bernie Sanders?

Michael R. Strain of the American Enterprise Institute has noted: Billionaire innovators create enormous value for society. In a 2004 paper, the Nobel laureate economist William D. Nordhaus found “that only a minuscule fraction” – about 2.2% – “of the social returns from technological advances” accrued to innovators themselves. The rest of the benefits (which is to say, almost all of them) went to consumers. If Amazon founder Jeff Bezos is worth $170 billion, then according to Nordhaus, he’s created over $7.7 trillion in value for society. Bezos has made each American around $23,000 richer. But Vermont Senator Bernie Sanders thinks an innovator’s 2.2 percent is too much. Sanders tweeted “Billionaires should not exist.” Continue reading on Substack.

wheat-farm-hill-with-wind-mill-stockpack-adobe-stock
wheat farm hill with wind mill
wheat farm hill with wind mill

State’s Climate Act Isn’t Worth Price We’re Paying

Washington state’s 2021 Climate Commitment Act (CCA), although high-minded in spirit, will do nothing to protect the state’s economy and environment from the effects of climate change. But what the CCA is already doing is burdening state residents and businesses with higher energy costs. Read More ›
safe-haven-currency-for-investment-financial-concept-us-100-usd-dollar-banknotes-on-a-table-depict-most-popular-asset-for-central-bank-reserve-global-money-for-using-or-paying-debt-in-the-world-stockpack-adobe-stock
Safe-haven currency for investment, financial concept : US 100 USD dollar banknotes on a table, depict most popular asset for central bank reserve / global money for using or paying debt in the world
Safe-haven currency for investment, financial concept : US 100 USD dollar banknotes on a table, depict most popular asset for central bank reserve / global money for using or paying debt in the world

What’s Wrong with “Neoliberal Economics”?

As a member of the “supply side” branch of modern classical economics, I might be labeled a “neoliberal economist” by some. But, there are important points at which common “neoliberal” economics fails badly, and which give rise to much-deserved criticism. Read More ›
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The busy of port congestion loading and discharging  containers services in maritime transports in World wide logistics
The busy of port congestion loading and discharging containers services in maritime transports in World wide logistics

Rationalizing Tariffs

Economic Nationalism tends to boil down into two basic policies: tariffs, and limited immigration. Sometimes, in the past, it has meant currency devaluations, but today that is not really proposed. On a broader basis, it means that economic policy should result in positive outcomes, for the whole of the population. Read More ›
tax-season-with-wooden-alphabet-blocks-calculator-pen-on-1040-tax-form-backgrounda-stockpack-adobe-stock
Tax season with wooden alphabet blocks, calculator, pen on 1040 tax form backgrounda
Tax season with wooden alphabet blocks, calculator, pen on 1040 tax form backgrounda

We Are Going To Have A Much Smaller Federal Government

The original Federal government of the Constitution was framed on the principle of a limited government of “Enumerated Powers.” In other words, it would handle a short and definite list of responsibilities. All other functions of government would be the responsibilities of the States. Read More ›
ponzi-scheme-text-with-document-brown-envelope-and-gavel-isolated-on-office-desk-stockpack-adobe-stock
Ponzi Scheme text with document brown envelope and gavel isolated on office desk.
Ponzi Scheme text with document brown envelope and gavel isolated on office desk.

Demographic Collapse #2: Ponzi Schemes

I have been arguing that a decline in population (“demographic collapse”) need not be a bad thing. If per-worker productivity remains high, or better yet rises considerably, then individuals and the society in general will remain wealthy and prosperous. Read More ›