Ugly Reminder – Now is the Time for a Federal Ban on Assault Weapons 2

By Daniel McKay
Ugly Reminder - Now is the Time for a Federal Ban on Assault Weapons
I’m doing some moving (starting a new job) so I will keep this short (I also have the “right to work” idea on my plate). Today Connecticut experienced one of the worst school shootings in US history. At least 28 have been killed among them 17 children.  This would rank up at the second most deadly school ...

Why Taxing the Wealthy and Giving to the Poor Makes Sense 5

By Daniel McKay
Why Taxing the Wealthy and Giving to the Poor Makes Sense
I apologize for the irregular posting, I’ve had a lot come up lately. But amidst all the personal drama I figured I would share an insight, a reminder for many of you. We should be taxing the wealthy and giving money to the poor. It is simple economics, in fact I was just explaining it ...

Fiscal Cliff – Fiscal Slope – Fiscal Escalator – Fiscal (Insert here) – Does it Matter? 2

By Daniel McKay
Fiscal Cliff - Fiscal Slope - Fiscal Escalator - Fiscal (Insert here) - Does it Matter?
If you have been following the blogs of Paul Krugman, Simon Johnson, or the aggregator Economistsview like me, you’ve probably seen multiple posts about the fiscal cliff, fiscal bomb, fiscal slope etc. The general consensus is that our budget adjustment scheduled to be taken at the beginning of January will be more gradual and hurt less ...

The Government’s Budget and the Economic Tightrope 4

By Daniel McKay
The Government's Budget and the Economic Tightrope
Now that the elections are over, we are sitting less than two months away from what I would consider a catastrophic budget resolution. It is politics, not economics that has dictated the fiscal cliff – and I suspect unfortunately that it will be politics again, not economics that determine what the solution will be. The ...

Are We Subsidizing the Wal-Marts and McDonalds of America? 1

By Daniel McKay
Are We Subsidizing the Wal-Marts and McDonalds of America?
I’m not a huge fan of Wal-Mart, although I can say I’ve strolled the aisles. For me it isn’t just their employment policies, their enormous size and leverage on domestic suppliers, or that they aimed to profit off the deaths of their employees. It’s my compassion for fair employment and the burden it places on ...

Eliminate the Mortgage Interest Tax Credit – Cut a Check 4

By Daniel McKay
Eliminate the Mortgage Interest Tax Credit - Cut a Check
While wildly popular, the mortgage tax deduction is one of the more obvious forms of regressive tax policy in the country. The mortgage interest tax deduction taken advantage by American homeowners is wildly popular and people cringe when they think it might be eliminated. One attack against Governor Romney is that he would eliminate the ...

Mortgages and Housing: The Noose Around America’s Neck 1

By Daniel McKay
Mortgages and Housing: The Noose Around America's Neck
A couple of nights ago before bed I couldn’t stop thinking about our economy and what medicine is needed to put us back on track. I recently wrote “Cutting Taxes on Millionaires DOESN’T Increase Economic Growth” in which I suggest that the American economy is driven by consumers demanding products (the argument deserves an entire ...

America’s Biggest Mistake – Guns Instead of Butter 4

By Daniel McKay
America's Biggest Mistake - Guns Instead of Butter
There’s no corner of the known world where some interest is not in danger or under actual attack. If the interests are not American they are those of our allies. America is constantly attacked by evil-minded neighbors, always fighting for a breathing space. The whole word is pervaded by a host of enemies and it ...

Cutting Taxes on Millionaires DOESN’T Increase Economic Growth 6

By Daniel McKay
Cutting Taxes on Millionaires DOESN'T Increase Economic Growth
I’ll try to keep this post short. The question is whether or not cutting taxes on the super-rich actually does as much as those who advocate it think it should. A new study out by Laura Tyson and Owen Zidar of UC Berkeley suggests that Romney’s tax plan advocating a 20% across the board tax cut would ...

Want To Learn About Entitlements? Part 2: The Problems 2

By Daniel McKay
Want To Learn About Entitlements? Part 2: The Problems
We recently covered in Part 1 some basic facts about entitlements, or “earned benefits,” that gave a pretty good outline of what they are, how they are funded and our expenditures. This segment will go more into detail about the issues we face in the coming decades surrounding entitlements. “the future is bleak, short-term projections show a fund that ...