A 15% single-rate tax on all income above a livable minimum, would solve all of the tax policy issues.
To determine what a plan to permanently fix the federal income tax code would look like, let’s first look at what the goals of income tax policy should be.
The first goal should be to enact a plan that raises sufficient revenue to cover all government spending which will eliminate the annual budget deficit. The tax plan should encourage economic growth, rather than placing burdens on growth. …
In March, inflation was running at nearly an 8% annual rate. One month is not a trend, but January and February also saw high inflation.
Although there has recently been an increase in the number of COVID-19 cases, the administered vaccines should reach 70% of the population before summer begins. If that happens, the virus will be mostly contained so that economy of every state should fully reopen. That will lead to an economic boom, albeit an inflationary economic boom.
Sometime next week, the Commerce Department will report on GDP growth in the first quarter of 2021. That number will…
Any more stimulus would be counter-productive.
Just released data by the Labor Department shows that more than 916,000 jobs were added in March. That means of the 22 million Americans that became unemployed last March and April, only 8.4 million remain unemployed. In the last 11 months, the economy added more than 13 million jobs. This is a remarkable recovery that certainly needs no more stimulus.
In fact, additional stimulus will be counter-productive if it overheats the economy. If that is the case there will be a severe inflation problem. The US hasn’t had an inflation problem since 1981. The…
The private sector is always more efficient and gets better results.
Let’s face it, we live in a plastic society. Nearly everything we buy is wrapped or packaged in some form of plastic. When we eat fast food, order take-out meals, or even stop for an iced coffee, we’ll be handed plastic cups, forks, spoons, and straws. We’ll use them once and then throw them away.
But that’s not the end of the story for plastic waste. It’s only the beginning. Of the 8.3 billion tons of plastic waste that exists today, barely any is recycled. Most of it is…
Already approved $6 trillion in stimulus spending is more than enough to grow a $21 trillion economy.
Recently, both Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen said that although the economy is forecast by them to grow 6.5% this year, more stimulus is needed. That means nearly $6 trillion of already-approved government stimulus is not enough. How much is enough?
In 2009, the Obama administration signed an $800 billion stimulus package. That was, by far, the largest stimulus package ever enacted. …
Huge government deficits, a too rapidly increasing money supply, rapidly rising energy prices and a potential capital shortage, will lead to inflation.
Many economists and much of the public are beginning to worry about the massive increase in the money supply and the massive increase in deficit spending. With a public debt approaching $30 trillion and a money supply that has increased by 25% in the last two years, the worry seems justified. However, Modern Monetary Theory (MMT) says we have nothing to worry about.
MMT says that since the US uses a currency that is not backed by anything…
Education technology is growing rapidly, mostly because of the need and because COVID has changed the way education is delivered.
Education mastermind John Dewey transformed the way we approach teaching and learning. He had the right idea, that is to engage the mind in learning, over a century ago: “Give the pupils something to do, not something to learn; and the doing is of such a nature as to demand thinking: learning naturally results.”
Learn by doing. It’s simple and it’s still revolutionary. Roblox is putting Dewey’s 19th and 20th-century genius into 21st-century practice. Think about how you learn to…
A family of four receives more than $10,000 whether they have suffered an income loss or not.
If you and your spouse had an income of $150,000 or less last year, you are about to receive another windfall from the Federal government. It will be $5,600, counting the free money for your two kids, your wife and you. It doesn’t matter that you didn’t suffer any income loss this past year. The money is there for you to spend as you please.
And yes, this money is in addition to the $3,400 received last May and the $2,400 received in…
United Mortgage Wholesale doesn’t want brokers to work with Quicken Loans.
When mortgage rates dropped below 3 percent in July for the first time in nearly 50 years, the U.S. experienced a spike in mortgage lending — the largest since the 2008 financial crisis — driven largely by refinancing.
Now, as mortgage rates start to tick up the leading wholesale lender in the country has threatened mortgage brokers in a way that could make it even more difficult for homebuyers and individuals looking to refinance to get the best possible rate.
Americans place freedom as the highest priority. That will ensure American Capitalism will flourish in the future.
Does Capitalism eventually lead to Fascism? In the US it doesn’t and it won’t.
Many people in the world believe that Capitalism will eventually lead to Fascism. Some claim that nearly everyone, except Americans, understand this. The reality is that American Capitalism, when practiced correctly, leads to more individual freedom, more individual responsibility, low rates of taxation and a limited role for government. These principles are opposite to the principles of Fascism.
Dr. Busler is an economist and a public policy analyst. He is a Professor of Finance at Stockton University. His op-ed columns appear in Townhall, Newsmax.