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EconomicsFeatured

Californians Are Losing Their Supermajority Protection Over Tax Increases

by Lee Ohanianvia California on Your Mind
Tuesday, June 25, 2019

For the last forty years, California has required that new taxes earmarked for a specific purpose be approved by a two-thirds supermajority in a general election to pass. But the state’s supreme court has thrown out this protection for new tax initiatives that are brought forward by a citizens’ group, rather than by government directly. Predictably, new and expensive tax initiatives are now being brought by citizens’ groups and are passing by simple majority when they would not pass by the previous supermajority rule.

PoliticsFeatured

Why A Tax Vote Last Week In Los Angeles Is A Preview Of 2020’s Coming Attractions

by Bill Whalenvia California on Your Mind
Thursday, June 13, 2019

Baseball has spring training, Broadway its tech rehearsals, and software engineers their beta tests.

Green Energy
In the News

Revisiting The Old New Deal

quoting Lee Ohanianvia Washington Examiner
Wednesday, June 5, 2019

When Alexandria Ocasio-Cortez and her allies proposed a new stimulus package to take on climate change and income inequality, they called it the Green New Deal. Their reasoning for the economic program’s name is obvious. It pays homage to the New Deal, a bundle of transformative economic reforms captained by President Franklin D. Roosevelt during the Great Depression. Like the original New Deal, the Green New Deal includes massive government intervention in the American economy through more spending, regulation, and taxes.

Blank Section (Placeholder)Analysis and Commentary

The Libertarian: Trump, Trade, And China

interview with Richard A. Epsteinvia The Libertarian
Wednesday, May 22, 2019

Are tariffs a necessary evil when it comes to stopping Chinese predation?

Friedman FundamentalsFeatured

Fellows With Friedman

featuring John H. Cochrane , Michael J. Boskin, David R. Henderson, Thomas Sowell, Richard A. Epstein, Alvin Rabushka, Robert E. Hallvia PolicyEd
Thursday, May 16, 2019

In a Wall Street Journalop-ed, “America Needs an Alternative Maximum Tax,” John Cochrane proposes a new kind of tax that caps the amount that people would pay in taxes to prevent indefinite tax-rate hikes. He asks, “How much is the most anyone should have to pay? When do taxes indisputably start to harm the economy and produce less revenue—when government takes 50% of people's income? 60%? 70%?” If there is a maximum amount that an individual pays, then once past that cap they wouldn’t pay any further federal income tax for that year.

Friedman FundamentalsFeatured

What We Learned About 70% Tax Rates 50 Years Ago

by Milton Friedmanvia PolicyEd
Thursday, May 16, 2019

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.

Interviews

Lee Ohanian: Climate Change, The Green New Deal And ‘Socialism’

interview with Lee Ohanianvia KCRW
Thursday, February 14, 2019

Hoover Institution fellow Lee Ohanian discusses the Green New Deal, which includes universal health care, a national minimum wage, increased business taxes, etc.

In the News

The Energy 202: Why Some Climate Activists Are Cooling On A Carbon Tax

mentioning George P. Shultzvia The Washington Post
Wednesday, May 1, 2019

It is one of most popular plans among economists for addressing climate change. Many Democrats have embraced it. Even some Republicans have come around to the idea.

Analysis and Commentary

Senator Elizabeth Warren: Help The Relatively Rich By Taxing Everyone

by David R. Hendersonvia EconLog
Saturday, April 27, 2019

Despite her best intentions and her description of the plan as progressive, a quick analysis finds Senator Elizabeth Warren proposal to be regressive, expensive, and full of uncertainties. 

Blank Section (Placeholder)FeaturedEconomy

Area 45: California And Economics On Your Mind With Lee Ohanian

interview with Lee Ohanianvia Area 45
Thursday, April 18, 2019

Lee Ohanian talks about California On Your Mind and his latest article on California’s economic health, its new governor, and the state’s role as the lead in the anti-Trump “resistance.”

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