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. …

Infrastructure spending that maintains roads and bridges will not reduce inflation. Increasing the already bloated deficit will add to inflation.

During his recent, somewhat confusing CNN town hall, President Biden claimed that his multi-trillion dollar infrastructure spending packages will “reduce inflation.” Unfortunately not only is that false, but in the short term, that spending will make inflation worse.

“Because we’re going to be provided good opportunities and jobs for people, who in fact are going to be reinvesting that money back into all the things we’re talking about, driving down prices, not raising prices,” Biden told the audience.

Currently, inflation…

Americans just want the truth and all of the facts.

Generally speaking, the more accurate information that a person has prior to making a decision, the better the decision is likely to be. That’s why it is so important that vital information, especially if it comes from a government source, be presented accurately, timely and unbiased. Our government leaders and much of the normally reliable sources, don’t seem to understand that.

Instead, information is biased and often inaccurate. That leads Americans to form opinions and taking actions that they normally wouldn’t take. …

Inflation hurts lower-income earners and retirees or others who are on a fixed income.

Since the country has not experienced the ugly nastiness of long-term inflation in more than four decades, the majority of Americans either never experienced it or have forgotten about it. It is starting to appear as if a long-term inflation problem is brewing. It also appears as if both the Biden Administration and The Federal Reserve (Fed) will accept high inflation.

The Fed position is most perplexing. Historically, and in nearly every instance, the Fed stays in front of inflation. This time, they are admitting they will be behind. …

Competition always leads to lower prices and better quality.

Competition, not monopolies, generally presents the best outcomes for consumers with lower prices, higher quality and more innovation. President Biden even emphasized this point in a recent Executive Order that aims to promote more competition in the U.S. economy. While this fact has been taken for granted with most sectors of the American economy, for too long consumers have accepted that there was no other choice but to purchase the electricity that powers their homes from a sluggish state-sanctioned monopoly. Fortunately, in many places that is starting to change.

Critical voices…

The longer the FED waits, the more drastic the actions will be.

The Bureau of Labor Statistics just announced. That consumer prices increased by a whopping .9% in June. That means since June 2020 prices have increased by 5.4%, That’s the largest annual increase in more than a decade.

Worse yet, most of the increase incurred between January 1 to June 30 of this year. During that time period, prices rose by 3.6%. If that pace continues until the end of the year, inflation for 2021 will be 7.2% …

The jobs report means that second-quarter GDP growth will likely exceed 8%.

The Bureau of Labor Statistics (BLS) recently announced that 850,000 jobs were created in June. The unemployment rate was 5.9%. This figure is very encouraging since the jobs report from the prior two months was so poor.

Originally, economists had hoped that by June the economy would add about one million jobs monthly for at least a month or so. …

Fringe benefits, like health insurance, are never considered ordinary income.

On Thursday the Trump Organization and its Chief Financial Officer Allen Weisselberg plead not guilty to a 15 count indictment. Essentially the charges say the Trump Organization and Weissellberg orchestrated a scheme to give more than $1.7 million to Weisselberg tax-free over a more than 10 year period. They plead not guilty because they did nothing wrong.

When an employee negotiates a compensation package, both the salary and the fringe benefits are determined. …

We need to know if it’s the Dems or the GOP that is putting forth “the big lie”

Regarding the 2020 presidential election, someone is being less than truthful with the American people. It’s important that we find out who. The results of prior elections have been certified, so there is no changing those. But Americans really want to know the truth.

The Democrats say that the election was fair and that any ballot irregularities were very minimal and certainly unintentional. The expansion of the means to vote was brought on by the pandemic but really should be the norm…

Ed-tech companies are growing rapidly.

One of the leading investors and thought leaders in educational technology, or ed-tech, space, is Michael Moe. In an interview with EdSurge two years ago Moe explained that while he was an analyst at Lehman Brothers, many of the CEOs of the fastest-growing companies often complained that one of their main barriers to even faster growth was the inability to “attract and retain knowledge workers.” This “gigantic problem,” he said, created immense opportunities for companies in the ed-tech space. To put this in perspective, education in the U.S. …

Michael Busler

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.

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