As I studied Al Smith, I had to look him up and learn more about him. I found what we find in many great leaders — Abe Lincoln, FDR. It's a focus on making our country a little better when we hand it to the next generation, and having a nonpartisan approach to team-building.
Steadily rising income and wealth inequality, along with declining social mobility, is contributing to political polarization. Fortunately, If there is growing demand for some type of tax-policy response to the problem, we have ways to determine which measures would be most effective, depending on the specific objective.
Sen. Elizabeth Warren is at it again. Her ill-conceived New Approach To Trade proclaims boldly as follows: As president, I won’t hand America’s leverage to big corporations to use for their own narrow purposes — I’ll use it to create and defend good American jobs, raise wages and farm income, combat climate change, lower drug prices and raise living standards worldwide. We will engage in international trade — but on our terms and only when it benefits American families.
Take all the signature brand names that the Baby Boomers inherited from prior generations—Harvard, Yale, the New York Times, NPR, CNN, the Oscars, the NFL, the NBA, the FBI, the CIA, the Rockefeller and Ford foundations, and a host of others. And then ask whether they enhanced our diminished such inheritances?
Psychologist Michele Gelfand talks about her book, Rule Makers, Rule Breakers, with EconTalk host Russ Roberts. Gelfand distinguishes between loose cultures and tight cultures--the degree to which culture and regulation restrict behavior or leave it alone. Gelfand explores the causes of why some cultures are tighter than others and the challenges societies face when culture is too tight or too loose. She also applies these ideas of cultural tightness and looseness to corporate mergers and family life.
Diane Tavenner, the cofounder and CEO of Summit Public Schools, joins Paul E. Peterson to discuss her new book, “Prepared: What Kids Need for a Fulfilled Life,” and a series of tips and questions for parents as their children begin the college application process.
Bottom line: If you’re someone who wants to see good economics being done or wants your students to see good economics being done, watch the video I discuss below. Larry Summers’s inputs are a microeconomics tour de force. Be aware, though, that Larry has one pretty awful proposal.
Here is an indisputable fact about California taxation: More than two-thirds of state general fund revenues come from personal income taxes and about half of those taxes are paid by the 1% of taxpayers atop the income scale.
“Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.” – Thomas Sowell
For President Donald Trump, the death of Islamic State leader Abu Bakr al-Baghdadi is a signature achievement that may help quell growing criticism from his own ranks, but it is unlikely to offer much relief from Democratic-led scrutiny of his dealings with Ukraine.
The message that John R. Bolton, President Trump’s former national security adviser, sent supporters of his newly reopened political action committee last week raised as many questions as it answered in a capital consumed by impeachment. Mr. Bolton implicitly criticized Mr. Trump’s foreign policy, declaring that “despite all the friendly notes and photo ops, North Korea isn’t our friend and never will be.”
A Ukrainian-American businessman who has ties to President Donald Trump’s personal lawyer cannot rely on executive privilege to shield evidence from prosecutors who accuse him of illegally funneling cash to U.S. political candidates, legal experts said.