economics

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

By Daniel McKay

Nov

26

2012

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 ...

Eliminate the Mortgage Interest Tax Credit – Cut a Check 4

By Daniel McKay

Oct

29

2012

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

Oct

24

2012

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 ...

Why Do People Vote Against Their Self-Interest: Take 2 1

By Princeton Moses G.

Oct

17

2012

My esteemed colleague Daniel McKay here at ideafart asked a thought-provoking question in one of his posts. “ Why Do People Vote Against Their Self-Interests?” The answer to such a question is more ambiguous than meets the eye. Though self-interest may vary from one individual to the next, nonetheless, many people perhaps through their certitude ...

The Simple Budget Plan For The US Government 2

By Daniel McKay

Oct

13

2012

A simple plan that could be implemented to reduce our deficit and debt levels while increasing investment and promoting economic growth. I thought I would introduce to you all a simple budget plan for the United States. Note that the effects of this plan may be different and we may see increasing interest rates on ...

The American Caste Society – In Class Warfare Money Rules 6

By Daniel McKay

Oct

13

2012

The United States comes closest to the ideal of prosperity for all in a classless society. – Richard Nixon to Soviet premier Nikita Khruschev, 1959 I wish this could be said today, as it was said in 1959. The real prospect of the “American Dream” is more folklore than a reality for many Americans today. ...

Why Healthcare Should Be Provided To All 2

By Daniel McKay

Oct

12

2012

Health is a public good. Healthcare is a moral obligation. Whether or not you choose to believe either one of these statements probably determines whether or not you support universal healthcare. One cannot simply argue that it is a moral dilemma and expect to win over a crowd that could care less. You have to instead appeal ...

Does Taxing The Rich Hurt Growth? A Redistributive Lesson 5

By Daniel McKay

Oct

9

2012

Redistribution, progressive taxes, class warfare, taxing the rich. All of these you have probably heard recently, and depending on who you talk to you might have heard different things about them. The Democrats, and President Obama wish to raise the tax rate on the top earners – the $250,000 and $1 million marker has been ...

Does Free Trade Cause Economic Growth And Reduce Poverty? 2

By Daniel McKay

Oct

8

2012

For many years, people have been convinced that openness to international trade was the key determinant for economic growth and poverty reduction. In 2000, WTO’s Mike Moore said that the surest way to help the poor was by opening markets. This idea has been accepted by many multilateral organizations (like the WTO). Recent empirical evidence, ...

Do We Like Outsourcing? Maybe We Should! 2

By Daniel McKay

Oct

5

2012

London School of Economics Study Suggests America Has Done Well By Outsourcing. While we hate being outsourced, it is a natural and necessary reality to building a strong and robust economy. Recently, CNN featured a special entitled “Putting American’s to Work” about outsourcing. It highlighted some realities that we may not usually realize when we ...