Walter Russell Mead outlines two possible futures for middle-class Americans: one where most of us lose “the race against the machine,” the other where smart government policies enable an eventual successful transition to an economy where IT and robots do … read more
AEI’s Aspen Gorry and Sita Nataraj Slavov: Individual taxation also improves work incentives for secondary earners. Under the current family-based tax system, a non-working spouse who enters the labor force faces a high tax rate on his or her very … read more
Phil Gramm and Steven McMillin are certainly correct in worrying about the potential downside of the large and growing national debt. But in their Wall Street Journal op-ed today, they make the following claim: “Once the Federal Reserve’s easy-money policy … read more
Do visa programs help or hurt US workers? Variations of this simple question sparked several debates in the Senate Judiciary Committee markup up the Gang of Eight’s immigration proposal this week. The issues at play are complex and the amendments … read more
One criticism of the Fed’s quantitative easing program is that it’s supposedly only helping wealthier Americans. The central bank’s bond buying pushes up the prices of financial assets, which rich folks happen to own a lot of. Now, this criticism … read more
According to US Senate investigators, Apple paid no corporate income tax to any national government on $74 billion in overseas income from foreign units over the past four years. Two key points: First, investigators found no evidence Apple did anything illegal. … read more
What do people mean when they say that the government is not nearly as good as the market at allocating scarce resources? A story from today’s New York Times offers an anecdote from Obamacare: The Obama administration said Monday that … read more
On Sunday, the US hit the debt limit, triggering the Treasury to engage in “extraordinary measures” to keep the government paying its bills. The ensuing debate could go one of two ways. We saw the bad way in August 2011. … read more
Do public employees have greater job security? And if so, how much is it worth? As part of my broader work on public sector pay, I’ve looked at whether public employees have greater job security than private sector workers and … read more
One has to pity Ben Bernanke during the remainder of his tenure as head of the Federal Reserve, which is due to terminate in January 2014. For his bold experimentation with unorthodox monetary policy has not worked out quite the … read more
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