Who built that? Who made that happen? Obama says it’s not the one who first conceived it, and then worked for it — no, no. Somebody else made that happen. Somebody that did none of the work, somebody that signed … Continue reading
Everyone who ever went to college and took Econ 101 became acquainted with Paul Samuelson (1915-2009). His basic economics textbook, Economics: An Introductory Analysis, was first published in 1948 and is currently in its 19th edition. It must the most … Continue reading
The Tea Party — Three Principles, by Elizabeth Price Foley. Good scholarship that is also easy reading is always welcome. I have thought of the Tea Party’s core principles as limited government, low taxes and less government spending. The author’s … Continue reading
In 2007 the government took in revenue of $214 Billion a month (average) and spent $227 Billion a month (average) creating a deficit of $13 Billion a month (average), or about $433 Million a day, $18 Million an hour. In … Continue reading
Keynes: Government should just spend, spend, spend and we’ll all be rich and prosperous. Hayek: Government has no money to spend without taking it away from someone else. It’s like dipping water out of one end of a swimming pool … Continue reading
James Buchanan, now in his 90’s, won the Nobel Prize in Economics several years ago for his work in “public choice theory” which is sometimes called the economics of politics. It holds that when people get elected to public office … Continue reading
That’s what she said on ABC’s This Week yesterday. She also buys the Mark Zandi theory that says a $61 Billion cut will result in 700,000 jobs being lost. None of that is even close to true, of course. It … Continue reading
Data collected by Kurt Hauser of Stanford University shows that Government revenue from the income tax has hovered around 19% of GDP no matter what the tax rates happen to be. Raising the rates, especially the highest marginal rate, does … Continue reading