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Politics

Americans Can Tell the Difference Between Rosy Economic Data and Reality

The economy is growing, unemployment is low, wages are up, and inflation is down. However, the American people remain grumpy about the state of the economy. This puzzle was just investigated by four economists. They found that people often know that something is wrong even if statistics don't reflect the problem. In this case, people are ...Read more

US Steel-Nippon Steel: A Global Deal for American Prosperity

The Pennsylvania-based U.S. Steel company recently agreed to be purchased by the Tokyo-headquartered publicly traded company Nippon Steel. This deal makes sense to economists. It will encourage other foreign companies to invest in the U.S., creating wealth and new job opportunities, and further shoring up the U.S. economy, particularly amid ...Read more

Biden's Corporate Tax Hike: Populism Versus Economic Literacy

In the latest volley of policy proposals that seem more rooted in populist rhetoric than economic knowledge, President Joe Biden's budget plan to hike the corporate income tax rate from 21% to 28% strikes me as particularly misguided. This move, ostensibly aimed at ensuring a "fair share" of contributions from corporate America, is a glaring ...Read more

A New Fiscal Commission Must Heed the Lesson of '97

The Republican chairman of the House Budget Committee made news recently by announcing that if his party is serious about changing the fiscal path we are on, they'll have to consider raising taxes. Politics is about compromise, so the chairman is right. Every side must give a little. However, "putting taxes on the table" is not as simple a fix...Read more

Nostalgia Versus Numbers: Challenging America's Economic Pessimism

America is celebrated for its economic dynamism and ample and generously paid employment opportunities. It's a nation that attracts immigrants from around the world. Yet Americans are bummed, and have been for a while. They believe that life was better 40 years ago. And maybe it was on some fronts, but not economically.

Surveys repeatedly ...Read more

Is Another Child Tax Credit Expansion Really the Best Way To Help Families?

In the well-intentioned rush to support American families by expanding the Child Tax Credit (CTC), critical questions are often ignored: Aren't we already doing enough, and is this the best way to help? It's imperative to step back and examine the assumptions at the heart of this ongoing debate.

The child tax credit was first introduced in ...Read more

Biden's Super Bowl Shrinkflation Blame Game

President Joe Biden wants to remind you that your Super Bowl party was more expensive than it used to be. The reason, he claims, is corporate greed and "shrinkflation." In a social media video before Sunday night's game, he spoke of companies selling "smaller-than-usual products where the price stays the same." He opposes this behavior and is ...Read more

The CFPB Is Putting Our Banking Arrangements at Risk

Nobody likes paying fees. A fee, however, is a transparent way to reflect the price of something. And in a market economy, prices convey vital information that consumers and producers use to make good decisions. A rise in the price of apples tells producers that consumers want more apples. This prompts more apple production (and eventually, ...Read more

Why Keep Worrying About Debt? Speculation Versus Reality

Over the years, I've offered many explanations about why the trajectory of the national debt is deeply troubling. At this point, though, my worry isn't rooted in a dogmatic adherence to the principles of a balanced budget. Nor does it come from my desire for a smaller government. Instead, I'm alarmed by politicians' unwillingness to look at ...Read more

Embracing Economic Freedom: Lessons from Javier Milei's World Economic Forum Address

In a thrilling address at the World Economic Forum, Javier Milei, President of Argentina, presented a robust defense of capitalism and a critical examination of all forms of collectivism. His speech, rich in historical context and economic analysis, offers some vital lessons that are particularly relevant for today's globalized economy. Sadly,...Read more

Candidates: Don't Let Interest Costs Derail Your Presidential Plans

Remember when Republicans on the campaign trail would talk about how they would make sure to put the U.S. on a fiscally sane path? I miss that time. While a few of the current crop have paid lip service to the idea of constraining spending, no one seems to have a clear plan about how to do it.

It's unfortunate. Letting the spending trajectory...Read more

Populist Politicians Aren't So Divided on Economic Issues, and That's Bad News

The political landscape is often portrayed as deeply polarized. The two sides, it is said, can't agree on anything. Even worse, if one side supports a position, that's reason enough for the other to oppose it. While this picture is largely true for cultural issues, the rise of populism on the right is making some of the two parties' economic ...Read more

Three Economic Myths to Put To Rest This Year

As a new year dawns, it's customary to reflect on the past and set resolutions for the future. This year, let's resolve to greet three widespread claims with healthy doses of skepticism.

The first dubious claim is that income inequality in the United States has inexorably risen since the 1960s. It's a scary narrative heavily bolstered by the ...Read more

 

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Michael Ramirez Bill Bramhall Drew Sheneman Chris Britt Darrin Bell Jimmy Margulies