I see a lot of lies and half-truths via statistics concerning poverty rates and the virtue of equality vs. general prosperity. It’s not so much that data is fudged; it’s the choice of what is measured and how it is plotted. Per capita GDP is a poor measure of general prosperity. The GINI coefficient is a mediocre measure of inequality.
In The Marginal Value of Money, I propose a first-order correction. It is imperfect, but it can be the basis of improvement in the various discusses both from the Left and the Right. Read it can come back here to comment if you so desire.
When capital goes unused, Keynesians quake in fear. “Emergency measures are needed!”
To this I cry “Nonsense!” Unemployed Resources are a wonderful thing to have. If you wonder why we in the Wealthy West are less happy than we should be, it’s because we haven’t fully discovered:
The Joy of Unemployed Resources
Read it, and come back here if you wish to comment.
When Republican leaders talk tax simplification, they usually mean tax cuts for the rich. If we weren’t running an enormous deficit, or the rich were more overtaxed than the upper middle class, this might be a good idea. Today, it isn’t. So taxes just keep getting complicated.
Well, it is possible to simplify tax collection while keeping what’s left of the progressive income tax. Indeed, we can simply tax collection for employers without changing tax rates, deductions, or loopholes at all.
I introduce the idea at A Free National Payroll Service. Go there and read it. Then come back to this announcement post if you want to comment.