The Business Insider has a new series of charts describing the “bum deal” working Americans have gotten in the last few decades, including this one demonstrating the fallacious but de facto standard liberal meme, namely that Americans should earn roughly equal shares of the income pie: An objective examination of this line of thinking reveals…
Category: Finance
Obama’s Foreclosure Plan Another Abomination
The ink barely dry on President Obama’s health care bill – and so-called victory over the American people – the president has a new set of victims to help: those unable to pay their home mortgages. His plan is a particularly abominable one straight from the playbook of Karl Marx. If President Obama has his…
Put People to Work by Lowering the Minimum Wage
It should be obvious to everyone that the minimum wage employers may legally pay workers is directly linked to the number of job openings companies will have at the unskilled end of the market. But evidently that bitter economic reality is lost on Democrats in Congress: the recent act of Congress that has caused the…
The Real State of the Union: Beyond Bankrupt
All the twitter about President Obama’s sneak attack on the Supreme Court and Justice Alito’s silent rejection of it masked the real news of the day: Our nation is beyond bankrupt and Democrats are committed to making matters worse by increasing the debt ceiling another 15% to $14T. For those who have trouble visualizing the…
U.S. Tax Policy Must Regress
In a short, direct article Scott Hodge debunks one of the radical left’s essential talking points, namely that the American rich don’t pay enough taxes to support their poorer countrymen. On the contrary, the U.S. system is more liberal than any other country in the Organization for Economic Co-operation and Development (OECD).
Consumer Financial Protection Agency Not Needed
Todd Zywicki gets it right when it comes to home mortgage and credit card debt: Instead of a new consumer financial products safety commission, Washington should revise the disclosures it mandates for mortgages, its tax and other incentives that encourage overinvestment in housing, and the incentives for homeowners to walk away from their homes. Our…
The AIG Meltdown and Who’s to Blame
Michael Lewis’ article at Vanity Fair is a fascinating summary of the problems that led to the failure of AIG – a must-read. Still, as compelling as Lewis’ case is, I don’t buy it in its entirety. Is the entire financial disaster of 2009 really the fault of one man? Not a chance.
Is Debt Default Immoral?
Megan McArdle has wrestled with this question and came up with a wonderfully clear answer:
If people really acted as if the choice to default were morally neutral, we’d either lose most of our credit system, or the legal rules would have to be much more punitive.
While speaking at Arizona State University, Barack Obama called on students to exercise fiscal restraint and not over-leverage themselves. Strangely, the Gateway Pundit says that’s exactly Obama did in his personal life by mortgaging his family’s home until they were well “under water”.
