Though economists want coherent tax systems, this is a lost cause. The general framework of any tax may have logic but in the details, political clout and economic power always trump coherence and fairness. Take recent initiatives to reduce excessive…
Category: Other
Bungalow bubble buildup
Recent news reports reawakened discussion of whether there is a housing price bubble in the United States. Anecdotal evidence of widespread home price increases is easy to find. In March, the median home price in Los Angeles County was 29…
Fair, calculated look at the next election
Politicians have long recognized that economic prosperity — or the lack thereof — is a powerful factor in politics. Four centuries ago, Henry IV promised “a chicken in every peasant’s pot.” He still is revered as France’s most popular king.…
Crash course in disparities
Are traffic deaths a major economic problem? The World Health Organization and World Bank think so. They just published a report detailing the human and economic effects of traffic accidents around the world. About 1.2 million people die each year…
French moves bound to spell stagnation
Contemporary France is a paradox. In no other E.U. nation is there such desire to be a great power. Yet few other nations cling so tightly to policies that ensure long-term economic decline. This week’s elections are the latest chapter…
No need to fret over OPEC
OPEC’s decision Wednesday to cut its production targets by 4 percent has thrown some observers into a tizzy. Ignoring inflation, world crude prices and U.S. domestic gasoline prices are at or near record levels. Fuel prices are becoming an issue…
Looking for China to hit a wall
Some things are sure to happen even if we do not know when. California eventually will have a major earthquake, and China will have an economic crisis and severe recession. Right now, a major Chinese recession in the next couple…
About that Medicare deficit
Trustees of the Social Security funds released their newest annual report Tuesday announcing that benefits paid out of the Medicare Trust Fund will exceed taxes paid beginning this year. All the money held in this trust fund will be exhausted…
Oil price rise may be timed to hurt Bush
Are recent oil price hikes a conscious effort by the Organization of Petroleum Exporting Countries to hurt President George W. Bush’s election chances? This question is a topic of comment in other countries, but has received little, if any, attention…
My tiff with TIF: It’s misleading
My wife and I have often talked about a small addition that would extend the back porch the full width of the house and let us have a bigger kitchen. It would be nice if the government would give us…