My Hoover colleague Russ Roberts just finished a nice video on inequality. Among other takeaways, he stresses that the people who were rich in 1980 are not the same people or even families who are rich now. It is not true that "the rich got richer." He also tracks individuals through time, and poor individuals got richer to. There is a lot more economic mobility in the US than the standard talking points.
Sometime around A.D. 60, in the age of Emperor Nero, a Roman court insider named Gaius Petronius wrote a satirical Latin novel, “The Satyricon,” about moral corruption in Imperial Rome. The novel’s general landscape was Rome’s transition from an agrarian republic to a globalized multicultural superpower.
Milton Friedman explains what happened when federal tax rates actually reached seventy percent over fifty years ago. As tax rates go up, taxpayers have more of a reason to avoid paying those taxes. Loopholes go hand-in-hand with higher tax rates, which is why lower rates on a broader base of income leads to a more equitable system.
This essay is part of the The Moonshot for Kids project, a joint initiative of the Fordham Institute and the Center for American Progress. This is the second of three parts. The first ran last week, and the third will appear in the next issue of the Education Gadfly Weekly.
This December marks 52 years since a British queen made Southern California her new home—not an actual monarch, mind you, but the legendary ocean liner Queen Mary that remains to this day a tourist attraction in Long Beach.
It’s not easy to surprise demographers, given the long timelines with which they work. But back in 2007, when the number of babies born in the United States hit the all-time high of 4.32 million, topping even the baby boom peak, few could foresee the baby bust that was about to come.
Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez have announced plans to introduce legislation that would limit the interest rate that credit card companies are allowed to charge customers. Although there is currently no federal limit, some state governments have limits. Sanders and Ocasio-Cortez propose capping the annual rate of interest on credit card debt at 15 percent.
(10:33) Hoover Institution fellow Victor Davis Hanson talks about his book The Case for Trump, as well as Notre Dame Cathedral, the possibility of another US Civil War, political issues, and much more.
Hoover Institution fellow David Davenport, coauthor with Gordon Lloyd of How Public Policy Became War, discusses how we lost “the cool, deliberate sense of the community” in making public policy and instead turned to the metaphor of war as the basis for political action.
Hoover Institution fellow John Yoo talks about the finger-pointing between high-level government officials over who pushed the unverified Steele dossier that was used in the FISA application to investigate President Trump.
Islamic anti-Semitism is of a “scale and scope” that most people in the West do not understand and is therefore all the more insidious, the controversial critic of the Muslim religion, Ayaan Hirsi Ali, told a capacity audience at the Jewish Public Library (JPL) in Montreal on May 13.
Back in 2012, I stumbled across figures on the U.S. government’s classification of documents and was stunned. In 2011, 92,064,862 of them had been sequestered and 26,058,678 of those given “top secret” status. (Who even knew that so many documents could be generated by a single government?) And that top-secret figure, in turn, represented a jump of 20,373,216 over all the documents classified in 1995. As such, it offered a striking sense of just how “secure” America’s national security state, including its (by then) 17 intelligence agencies, had become.
The NCAA’s new working group is tasked with holding back the tide. It is charged with examining rights that would seem inalienable – a college athlete’s claim to his or her own name, likeness and image – while preserving the pretense of amateurism.
Drug stores in deep state neighborhoods around Washington, D.C., reported a run on Maalox after news broke that Attorney General William Barr had appointed Connecticut U.S. Attorney John Durham to investigate the origins of the Trump/Russia collusion hoax.