In a generally well-written article, HPR staff writer Will Rafey recently addressed the need to raise the gas tax “to make the private cost of driving a car reflect its actual social costs: global warming, air pollution, traffic congestion, and highway maintenance,” and how difficult this has become in the current political climate. I have no disagreement with the thrust ... Read More
In Federalist No. 63, James Madison wrote that the defining principle of American democracy, as compared to Athenian democracy, “lies in the total exclusion of the people in their collective capacity.” But since Madison wrote those words, several direct-democratic institutions have been introduced into American politics. California became the first state to adopt a ballot-initiative process in 1911, enabling citizens ... Read More
Just before its Memorial Day recess, the House passed a bill that, according to The New York Times, would raise the taxes that investment managers pay on carried interest, just at the moment new long-term investment is most needed. General executive partners of long-term investment partnerships, including investments in real estate, venture capital, private equity, and other investments, are paid ... Read More
The New York Times Magazine has a fantastic article about the puzzle of the paucity of valor awards–those medals given for high acts of courage. Only six Medals of Honor have been awarded in Iraq or Afghanistan: a fraction of previous wars either absolute or percentage terms. In the Pentagon’s defense, the article quotes one spokeswoman: Addressing the drastic drop ... Read More
Peyton has posted a rejoinder to Max, trying to buttress his initial claim that it is “inappropriate for 73 percent of federal income taxes to be paid by 10 percent of the American population.” I am struck by a few things from Peyton’s post, and I want to pull them out and talk about them directly. First, Peyton argues that ... Read More
In his April 11 post, “Weighing In: The Great Tax Debate,” Max Novendstern rebuts my most recent argument that it is inappropriate for 73 percent of federal income taxes to be paid by 10 percent of the American population. Since our disagreement is to at least some extent based on our differing conceptions of fairness, I will offer only a ... Read More
Alex Copulsky’s reporting on the Tea Party is hilarious. If you haven’t seen his post yet, go check it out. But his sightings of ”trolls” — people unsympathetic to the Tea Party movement who are there just to make it look bad – corroborate the reports we’ve been hearing about left-wing activist groups mobilizing to crash the Tea Party events and frame them as ... Read More
The Great Tax Debate begins every year in the blogosphere around April 15th. On the line are normative claims, like whether and to what extent we should be distributing resources communally. But the facts are easy to get wrong too. So today I thought I’d lay out some factual correctives to Peyton’s exemplar of the Great Tax Debate form, “Robin ... Read More
For nearly half of American households this year, April 15 will be no different from any other day. AP’s Stephen Ohlemacher reported on Thursday that, according to the Tax Policy Center in Washington, about 47 percent of Americans will pay no federal income taxes for FY2009, either because their incomes were too low, or they qualified for enough credits, deductions, ... Read More
That’s right. That’s Mark Warner, junior Democratic Senator from Virginia, who won an astonishing 65% of the vote in 2008 (besting Obama by 12 percent), after a highly acclaimed term of Governor from 2002-2006. That’s the same Mark Warner who was rumored to be considering a Presidential run in 2008, a favorite among the establishment elite for his mixture of ... Read More
Professor Steven D. Levitt, an eminent popular economist from the University of Chicago and co-author of the widely successful books Freakonomics and SuperFreakonomics gave a lecture here on Monday. Despite being sparsely publicized, the lecture attracted around 200 people from around the campus, an obvious testament to the popularity of Levitt’s unorthodox economics style. While I was impressed with Professor ... Read More
I really don’t understand the impulse among many Harvard students (if the Crimson is any guide) to pat the Tea Partiers on the head and say, “I don’t agree with you, but you’re totally what this country is all about.” No, they’re not. They’re just crazy. Do they sometimes “ask the right questions”? Yes, absolutely. Reading Monday’s illuminating New York ... Read More
