How to restore separation of powers
John Yoo and James C. Phillips | NationalReview.com
The separation of powers is not just about the separation of powers. It’s also about religious liberty, free speech, due process, and every other liberty the Constitution protects and all those not enumerated in its text.
Who's Afraid Of Budget Deficits? I Am.
by David R. Henderson via Defining IdeasTaking issue with Jason Furman and Larry Summers
Who's Afraid Of Budget Deficits?
by David R. Henderson via EconLogIn a provocative article in Foreign Affairs titled “Who’s Afraid of Budget Deficits?” Jason Furman and Lawrence H. Summers argue that we should not worry much about the federal government’s large and growing budget deficits. While they admit that politicians and policymakers “shouldn’t ignore fiscal constraints entirely,” they say that they “should focus on urgent social problems, not deficits.”
Native American Heritage: It's Not What You Think
by Terry Anderson, Wendy Purnell via Defining IdeasThe ideas defining a free Native American society.
Job Creation Has Become the Fed’s Job One
Robert Samuelson, Washington Post
"FDD's Research Assessment: Cyber,"Annie Fixler and David Maxwell, Midterm Assessment: The Trump Administration's Foreign and National Security Policies
"FDD's Midterm Assessment: Economic Security," Juan C. Zarate, Midterm Assessment: The Trump Administration's Foreign and National Security Policies
THE LEFT SAYS "TAXES DON'T MATTER" HERE'S THE REAL STORY ON EQUITY-CAPITAL FORMATION & FIXING PUBLIC SECTOR BALANCE SHEETS
Chart Of The Day: The Inverse Relationship Between The Top Marginal Income Tax Rate And The Tax Burden On 'The Rich'
with Thomas Sowell via Hoover Daily ReportNow that Rep. Ocasio-Cortez wants to raise the top personal income tax rate to 70% and Rep. Ilhan Omar thinks 90% would be even better, it might be a good time to review the history over time from 1960 to 2013 of: a) the top marginal tax rate in every year and b) the share of total income taxes collected from the top one-half percent of taxpayers.
CBO As Agenda Setter On Tax Policy
by David R. Henderson via EconLog
In December 2018, the Congressional Budget Office published a 316-page report titled Options for Reducing the Deficit: 2019 to 2028. Those reports are often useful because they can tell you the implications for the deficit of various changes in government spending and in tax law. This report is relatively comprehensive. It examines dozens of ways in which the U.S. government could cut spending and dozens of ways in which it could increase taxes.
Taxes, incorporation, and productivity
Robert J. Barro and Brian Wheaton | AEI Economics Working Paper Series
Long-difference regressions for 1968–2013 show that a higher tax wedge reduces the C-corporate share of net capital stocks, equity (book value), gross assets, and positive net income, as well as the corporate share of gross investment.
America Off Balance: One Nation Under Debt
with Hoover Institution via PolicyEdScroll through America Off Balance, the Hoover Institution’s new web platform that guides users through the tough choices that must be made to avert looming fiscal disaster and fix the federal budget. The platform hosts three major digital products: an interactive tour of the federal budget (The Balancing Act), a comprehensive state-of-the-art Budget Calculator to identify and test new reform proposals, and Budget Matters, which offers analysis and commentary on policy options.
New Hoover Institution Digital Products Highlight Fiscal Challenges And The Need To Fix America's Chronic Debt Problem
via Hoover Daily ReportScholars at the Hoover Institution have created a new web platform, America Off Balance, that hosts digital products highlighting the looming fiscal disaster that the country will face—unless tough choices are made, and made soon.
MASTER KEY TO THE SHUTDOWN: THE US SENATE, THE POVERTY OF LIBERALISM & HOW THE DEEP STATE CAME TO AMERICA
How the Deep State Came to America: A History by Ryan Gingeras
Chart of the day . . . or century?
Mark J. Perry | AEIdeas
Success is not a sequence
Brent Orrell | AEIdeas
The “success sequence” — the argument that avoiding poverty depends on graduating from high school, getting a full-time job, and marrying before having children — is enjoying a minor resurgence in policy circles of late.
Why 70 Percent Tax Rates Cannot Finance Socialism
Brian Riedl, National Review
Representative Alexandria Ocasio-Cortez’s call for a 70 percent income-tax rate to finance green-energy initiatives has energized the Left. Yet this is completely destructive proposal. A 70 percent tax bracket would raise very little (if any) revenue, while damaging the economy and sending income and jobs overseas. While details of Ocasio-Cortez’s energy proposal are unavailable, former Green-party presidential candidate Jill Stein has proposed a “Green New Deal” costing between $700 billion and $1 trillion per year for public jobs and clean energy initiatives. That is roughly 4 percent of GDP. Read more here....
GUNS 'N BIBLES: THE FRUSTRATION OF TRUMP'S DEPLORABLES?? & PAYING BROKEN PENSIONS, FIXING SOCIAL SECURITY; IDENTITY POLITICS EXHAUSTS AMERICA
Economic shocks and clinging
Michael R. Strain and Stan Veuger | AEI Economics Working Paper Series
During his first campaign for president, Barack Obama was criticized when he argued that residents of towns with poor local labor markets “cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustration.” Michael Strain and Stan Veuger test empirically whether this is the case.
Policy Briefs: Josh Rauh Warns Why Taxpayers Will Have To Bail Out Public Pensions
by Joshua D. Rauh via PolicyEd
State and local governments are claiming that they’re running balanced budgets, when in reality they’re relying on future investment returns to pay for pension benefits to retirees.
Increased Workforce Participation Alone Won’t Fix Social Security Finances
Charles Blahous, E21
Last month, Morgan Stanley published a research report projecting that US labor force growth will exceed Congressional Budget Office (CBO) projections starting in the 2020s, and also asserting that this faster growth “should” delay Social Security’s insolvency, “perhaps by decades.” Specifically, the report stated that “a faster increase in the pool of covered workers is an important factor in the Social Security Trustees’ ‘low cost’ scenario, which would delay the date at which the Social Security trust fund reserves could become depleted from 2034 to 2062.” Read more here....
The Biggest Emerging Market Debt Problem Is in America
Carmen Reinhart thinks conditions are ripe for a global crisis stemming from high issuance of corporate collateralized loan obligations.
by Scott W. Atlas, Michael J. Boskin, Tom Church, John H. Cochrane , John F. Cogan, Daniel Heil, Daniel P. Kessler, John B. Taylor via PolicyEd
Health insurance helps many Americans purchase health care. So why is it so expensive, and how can we make it more affordable?
Transformational Health Care Reform
by Scott W. Atlas via PolicyEd
The American health care system is on an unsustainable path characterized by government-dominated insurance. Fixing health care begins with changing the incentives and empowering consumers to seek value with their money, while increasing competition among providers. Liberalized HSAs, insurance with lower premiums and fewer mandates, and more options for Medicare and Medicaid enrollees will improve access, choice, and quality of health care.
The Center for Medicare and Medicaid Innovation has too much power
Joseph Antos and James C. Capretta | RealClearPolicy
The Center for Medicare and Medicaid Innovation’s authority is so broad that little is beyond its potential reach.
The path ahead for health reform in divided government
Lanhee Chen and James C. Capretta | Politico
Our Exhausted American Mediocracy
by Victor Davis Hanson via American Greatness
The unlikely 2016 election of Donald Trump—the first president without either prior political or military office—was a repudiation of the American “aristocracy.” By “rule of the best” I mean the ancien régime was no longer understood to suggest wealth and birth (alone), but instead envisioned itself as a supposed national meritocracy of those with proper degrees, and long service in the top hierarchies of government, media, blue-chip law firms, Wall Street, high tech, and academia.
The Burden Of Public Pension Promises On State And Local Budgets
by Joshua D. Rauh, Daniel Bergstresser via EconoFact
Unfunded pension liabilities represent a significant challenge to the finances of many state and local governments. While no analysts dispute the general statement that pensions are underfunded in aggregate, there has been some discussion about how to estimate the magnitude of the gap.
Part I: Will left-wing anti-Zionists and anti-Semites in America succeed in hollowing out the traditional liberal left in the United States, as they have in Britain and France?
Part II: Michael Walzer's critique of Leftist "inwardness" and the ways in which Bernie Sanders has succeeded in setting a different course.
Part III: How the late Richard Rorty foresaw the Trumpian moment and how he also envisioned a way out of it.
James Bloodworth: The dueling visions of Jeremy Corbyn and Bernie Sanders
Alexander Zubatov: Just because anti-Semities talk about 'cultural Marxism' doesn't mean it isn't real
Cathy Young: The current revival of Communist-inspired politics and where it could lead
Tim Shenk: Is there anyone who still believes that America is great because it is good?
Aaron Maté: Israel, not Jeremy Corbyn, is the real threat to the Jewish Left
Emily Benedek: The charismatic female stars of the new American Left
Paul Berman: The last word
Skills for the 21st century
Brent Orrell | AEIdeas
There are no simple either-or propositions in the labor market future. Educators at all levels should focus on teaching certain noncognitive skills while continuing to foster narrower, in-demand technical skills that are connected to immediate employment opportunities.
Why Millennials Are Poorer Than Other Generations
Ryan McMaken, CapX
5 charts on the economic gaps between urban and rural America
James Pethokoukis | AEIdeas
HOW US ECONOMY IS BOOMING AND FADING, THE BEST PLACES TO START A BUSINESS & EXAMINING LEFT BEHIND IN AMERICA
America’s Economy Is Both Booming—and Fading
Oren Cass, Washington Post
Populism, economic nostalgia, and ‘left behind’ America
James Pethokoukis | AEIdeas
The ‘Tax the Rich’ Delusion of the Democratic Left
Brian Riedl, Daily Beast
The Democrats’ incoming House majority—and its Senate caucus of presidential wannabes—are about to face fiscal reality. When confronted with how to pay for their extraordinarily expensive policy agenda, the answer of liberal lawmakers, analysts, and advocates is nearly always the same: tax the rich. How to close the $12 trillion baseline budget deficit over the next decade (a figure that already assumes the 2017 tax cuts expire)? Tax the rich. Read more here....
The Best Argument Against Minimum Wage Laws
Tom Mullen, FEE
The best and worst metros for first-time homebuyers
Edward J. Pinto and Tobias Peter | American Enterprise Institute
AEI scholars Edward Pinto and Tobias Peter calculate the median home-price-to-income ratio for the 50 largest metropolitan areas.
Perspectives On Policy: Lowering The Cost Of Health Care
by Scott W. Atlas via PolicyEd
Broad access to quality health care starts with making it less expensive through increased competition and eliminating harmful regulations.
Women Make Much Less Than 80 Cents to Men’s Dollar – Anna North, Vox
New Study Twists Statistics – Carrie Lukas, National Review
Do meaningless jobs exist in America?
Aparna Mathur | Forbes
A recent book claims 40 percent of jobs are meaningless. But a closer look at the data reveals quite a different picture of American job satisfaction. While yes, it is certainly plausible that some people with a job find their work meaningless, it is a far better situation to have to deal with than lack of work and decent incomes.
How the Geography of Startups and Innovation Is Changing
Richard Florida & Ian Hathaway, Harvard Business Review
Jonah Goldberg | National Review
Re: The Roots of American Working-Class Discontent
Oren Cass, National Review
Destroyed for Nothing
The closing of GM’s Detroit plant—erected at the expense of a vibrant urban neighborhood—is a final twist of the knife in a tale of displacement and destruction.
The Hard Road to Conservative Reform
Should a post-Trump conservative politics seek to learn something from his ascent or simply aim to repudiate him?
Growth and Work
“Over the past few days, a very interesting and worthwhile debate has arisen among several thoughtful conservatives about growth, work, and prosperity. The occasion for it has been Oren Cass’s new book, The Once and Future Worker and its argument that work, and not just wealth, is a vital measure of well-being, and one on which our society has been falling short.”
By Yuval Levin
National Review Online
November 27, 2018
Growth for Whose Sake?
There’s more to life than rising consumption.
By Oren Cass
City Journal Online
November 26, 2018
What the Working Class Is Still Trying to Tell Us
“Working-class voters tried to send a message in 2016, and they are still trying to send it. The crucial question is whether America’s leaders will listen and respond. One way to start doing that is to read Oren Cass’s absolutely brilliant new book, ‘The Once and Future Worker.’”
By David Brooks
The New York Times
November 9, 2018
Conservatives and the Politics of Work
“Since election night 2016, liberal pundits have debated whether Donald Trump won because of ‘economic anxiety’ or ‘cultural resentment.’ According to Oren Cass, ‘these aren’t different things.’ The real issue, the Manhattan Institute scholar says, is work.”
By Jason Willick
The Wall Street Journal
November 23, 2018
Economic Piety Is a Crisis for Workers
Government policy should emphasize production, not consumption.
By Oren Cass
November 27, 2018
How To Save Social Security Systems
by Martin Feldstein via Project Syndicate
Providing benefits to support a comfortable standard of living for retirees with just a modest rate of tax on the working population depends on there being a small number of pensioners relative to the number of taxpayers. That is no longer the case.
The Republican Workers Party: How the Trump Victory Drove Everyone Crazy, and Why It Was Just What We Needed by F.H. Buckley (Author)
Soul of a Democrat: The Seven Core Ideals That Made Our Party - And Our Country - Great by Thomas B. Reston