The National Employment Law Project (NELP) released a study claiming to have directly disproved any link between minimum wage and job loss. Unfortunately, it has received media attention, including a piece or two by Nick Hanauer, “America’s worst minimum wage pundit.” Fortunately, at least some of the coverage is negative – as it should be. … Continue reading Debunking a Misleading Minimum Wage Study
Category: Economy
Early last month, in a column on my hopes and fears for 2017, I fretted about fiscal chaos in Italy leading to default and bailouts. Simply stated, I fear that Italy, along with certain other “Club Med” nations, has passed the point of no return in terms of big government, demographic decline, and societal dependency. … Continue reading Move over Greece, Italy’s Crisis Will Be Worse
As part of an otherwise very good tax reform plan, House Republicans have proposed to modify the corporate income tax so that it becomes a “destination-based cash-flow tax.” For those not familiar with wonky inside-the-beltway tax terminology, there are three main things to understand about this proposal. First, the tax rate on business would drop … Continue reading Don’t Ruin A Chance for Tax Reform with “Border Adjustments”
Getting a job requires experience; getting experience requires a job. This is one reason the trap of poverty can be so difficult to escape. But what is the root of this trap? Solutions exist, but they are too often blocked by misguided policies such as the well-intentioned minimum wage. By eliminating the opportunity to work, … Continue reading The Minimum Wage Outlaws Work Experience
The Congressional Budget Office just released their national debt prediction for the upcoming decade, and it’s not good. Assuming the government does not add any new costs, the CBO is expecting another $10 trillion to be added to the current debt, raising the total to $30 trillion. But as bad as that is, the … Continue reading The Congressional Budget Office Can’t Count
Back in 2014, I shared some data from the Tax Foundation that measured the degree to which various developed nations punished high-income earners. This measure of relative “progressivity” focused on personal income taxes. And that’s important because that levy often is the most onerous for highly productive residents of a nation. But there are other … Continue reading Which Country Punishes Productive People the Most?
Bitcoin Is Less Volatile than the Euro Bitcoin volatility has fallen since 2011 and compared to the U.S. dollar currently sits at about 3-4 times higher than the Japanese yen, British pound, and euro. High volatility in the digital currency space has long been cited as a reason against adoption. But, as charts and analysis demonstrate, it is … Continue reading Here’s why you are better off with Bitcoin than with euros
I live in the world of blockchain and smart contracts. I hear people using terms that remind me of when we were building the Web back in the 1990s: they are talking, but they aren’t understanding each other because they don’t have a common understanding of the terms of a new technological order. The worst … Continue reading So… What’s a Blockchain?
I’ve written many times that Washington is both a corrupt city and a corrupting city. My point is that decent people go into government and all too often wind up losing their ethical values as they learn to “play the game.” I often joke that these are people who start out thinking Washington is a … Continue reading The Ex-Im Bank Is the Heart of the Swamp
At New Highs, Bitcoin Is a Global Safe Haven Asset The market cap of Bitcoin surpassed the $14 bln margin for the first time in history, breaking its all-time record high previously set in 2014. The surging value of Bitcoin led to extensive mainstream media coverage and social media attraction, with Bitcoin earning a spot on … Continue reading Why are global investors putting their money in Bitcoin? This.
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