Tag: Budget and Tax Policy

Student Debt and Default Explode While U.S. Department of Education Fiddles »

A new report from the U.S. Department of Education’s Office of Inspector General (OIG) examined what steps it had taken from fiscal years 2011 through 2014 to improve student debt and loan repayment rates. In a nutshell, a big fat nothing—and taxpayers will be stuck paying off tens of billions in bad loans as...
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The Program No One Dares to Question: Social Security »

I recently exchanged letters with Joe Davidson, columnist for the Washington Post, about the Social Security program, in which I raised a central problem with this program, a defect consistently ignored by all its supporters. (Incidentally, the $1,000 reward I promised Mr. Davidson—which he did not attempt to claim—remains open to any staff member...
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Anti-Government Movements »

The past five years have seen four major anti-government movements gain momentum. These movements have not been revolutionary movements, but rather movements that pushed to limit the scope of government in various ways. The Tea Party movement began in 2009 with the motivation of electing candidates to office who supported a reduction in the...
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Professor Gruber Strikes Again »

According to a recent post by Scott Vorse on Brietbart’s “Big Government” website, MIT economics professor Jonathan Gruber, already in hot water for saying that “the stupidity of the American voter” was politically indispensable in getting Congress to pass the Affordable Care Act, previously had advised former NYC mayor Michael Bloomberg on tobacco tax...
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“Cadillac Tax” Will Hit 38 Percent of Employers in 2018 »

The “Cadillac tax” is the excise tax on high-value health plans, which goes into effect in 2018. If the value of health benefits exceeds $10,200 for an individual or $27,000 for a family, the excise tax will be 40 percent. A new report from the American Health Policy Institute breaks down the effect on employers. As...
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Students Won’t Be Collateral Damage in California Big Spenders’ Showdown »

There’s a showdown brewing in California’s not-so-OK Corral—make that the UC Corral—and students are fed up with being the ones caught in the crossfire. It started back in 2012 when Gov. Jerry Brown threatened to slash state funding for California’s ten University of California campuses unless his Proposition 30  (also known as the “Millionaire’s Tax”)...
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Elizabeth Warren on the Economic Consequences of the Obama Administration »

Elizabeth Warren, recently appointed to a Democratic leadership position in the Senate, explained her priorities: “Wall Street ... is doing very well, CEOs are bringing in millions more and families all across the country are struggling,” she said. “We have to make this government work for the American people. And that’s what I will...
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Lesson from the Election: People Want Less Government »

The lesson I draw from the Republican victories in the 2014 election is that people want less government. Since 2009 the number of Democratic Senators fell from 58 to 45, the number of democratic House members fell from 256 to 192, and the number of Democratic governors fell from 28 to 18. I’m not...
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Hillary’s Right About Jobs »

Hillary Clinton’s recent exhortation “Don’t let anybody tell you that it’s corporations and businesses that create jobs,” has been drawing a lot of flack from conservatives, but it’s pretty much true these days. Back in the olden days, of course, businesses did create jobs. But now, not so much. Here are the number of...
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“Hunger” Games »

As with their measurement of “poverty,” federal officials not surprisingly similarly play creatively with their definition of “hunger”—that is, “food insecurity.” As James Bovard explains in The Wall Street Journal, in releasing figures showing nearly 15% of the U.S. population as “food insecure,” the USDA has in fact polled Americans on their feeling that...
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