Welcome to Higher Taxes

It’s apparently unpleasant:

American workers are opening their first paychecks of the year and finding an unpleasant surprise: The government’s take has gone up.

A temporary cut in Social Security withholdings gave Americans hundreds of extra dollars to spend over the past two years. But Congress allowed that break to expire during the wrangling . . . → Read More: Welcome to Higher Taxes

That Which Is Unseen

Some economic news:

This morning’s jobs report shows that the economy’s subsidized private sector (industries like health care services that receive big government subsidies) is back as a major source of new hiring.

If a stronger but sustainable U.S. recovery depends on reinvigorating industries not heavily dependent on government largesse, then this hiring out-performance . . . → Read More: That Which Is Unseen

Taxes Are Going Up

Quelle surprise:

The tax this year will increase by two percentage points, to 6.2 percent from 4.2 percent, on all earned income up to $113,700.

Indeed, for most lower- and middle-income households, the payroll tax increase will most likely equal or exceed the value of the income tax savings. A household earning $50,000 in . . . → Read More: Taxes Are Going Up

The Truth About Taxes

Ross Douthat speaks it:

Alas for liberals, the tax debate isn’t that simple, because it’s taking place in the context of immense projected future deficits and a welfare state that seems unsustainable without substantial increases in revenue. Given these realities, fairness and progressivity are necessarily less important to liberalism over the long run than . . . → Read More: The Truth About Taxes

“Cheap Labor”

Turns out it’s neither cheap nor labor:

“In 2010, 36 percent of immigrant-headed households used at least one major welfare program (primarily food assistance and Medicaid) compared to 23 percent of native households,” summarizes the document which was published by the Center for Immigration Studies and examines a wide variety of topics relating to . . . → Read More: “Cheap Labor”

The IRR of UIDAI is over 50 per cent in real terms

We have released a cost-benefit analysis of the UID system. In one line, the result of the calculations, under fairly conservative assumptions, is that the IRR of building the system is 53% in real terms. Hence, building UIDAI is a pretty good use of public money.

Through this page, you can access a short . . . → Read More: The IRR of UIDAI is over 50 per cent in real terms

Dependency

Some hack is complaining about how people who were promised that the government would take care of them are relying on the government to take care of them:

How much do senior citizens rely on Social Security? Even more than you might think. A new study finds that more than 46 percent of Americans . . . → Read More: Dependency

Market Welfare

In reference to meteorites:

Approximately 5,000–17,000 meteorites plummet to earth every year—some the size of a washing machine, some as small as a golf ball. But when a particularly rare and scientifically valuable specimen like Tissint lands outside Antarctica, scientists and institutions such as the Natural History Museum must jockey with private collectors for . . . → Read More: Market Welfare

What College Bubble?

An interesting factoid:

The number of PhD recipients on food stamps and other forms of welfare more than tripled between 2007 and 2010 to 33,655, according to an Urban Institute analysis cited by the Chronicle of Higher Education. The number of master’s degree holders on food stamps and other forms of welfare nearly tripled . . . → Read More: What College Bubble?

Republican Hypocrisy

CEPR:

This is no doubt how Mitt Romney and other wealthy people would like the public to see the debate. However the reality is that the government has implemented a wide range of policies that have led to a massive upward redistribution of before tax income over the last three decades. These policies have . . . → Read More: Republican Hypocrisy