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Future Deficits Not Caused By Obama

Back in June, I analyzed the causes of the National Debt’s sharp increase between 2001 and 2011. I concluded that 12% of the increase was due to Obama’s policies, and the remaining 88% was caused by...

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How Do Low Tax Rates Lead To Inequality?

In my previous post, Do Tax Cuts Hurt Growth?, I presented evidence from Piketty, Saez and Stantcheva that low tax rates lead to higher income inequality.     Since the introduction of the income tax...

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Attack On American Unions Continues

Today in Michigan, the GOP controlled legislature passed a pair of right-to-work bills covering public and private sector unions. Like most labels, this one is very misleading. It doesn’t give anyone...

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CRS Confirms No Correlation Between Tax Rates And Growth

Yesterday, the Congressional Research Service released a report titled, ”Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945“. The goal of this report was to determine if...

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Fiscal Cliff Deal Stabilizes Debt

The current National Debt is about 73% of GDP and is expected to reach 80% in two years. However, the American Taxpayer Relief Act passed on January 1 to avoid the Fiscal Cliff is expected to reduce...

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Supply-Side Economics Can’t Fix a Demand-Side Problem

Typically, weak economies are characterized by high unemployment and low inflation, while strong economies are characterized by low unemployment and higher inflation. This makes intuitive sense – a...

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Union Membership Hits New Low

From the Associated Press: Union membership plummeted last year to the lowest level since the 1930s as cash-strapped state and local governments shed workers and unions had difficulty organizing new...

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The American Dream Versus The Luck Of Birth

Reblogged from Class War In America: The American Dream is at odds with reality. America views itself as the “The Land of Opportunity”, the place where if only you work hard enough you will become...

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Sorry State Of The American Dream

The American Dream is a term coined by James Truslow Adams in his 1931 book, The Epic of America. He defined it as: …that dream of a land in which life should be better and richer and fuller for...

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Reagan’s Recovery vs Obama’s Recovery (UPDATE)

Last June, I compared the early 80s recovery under Ronald Reagan to the current recovery. I presented two graphs which compared total government spending and total government employment during the two...

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