Saturday, February 27, 2010

A Few Minutes With Greg Mankiw

Need something to do this weekend? Read the paper linked to in this Greg Mankiw post.

Absolutely fascinating.

6 comments:

BigFred said...

As a short man, this would benefit your tax situation.

Anonymous said...

PSALM 2009




Obama is the shepherd I did not want.
He leadeth me beside the still factories.
He restoreth my faith in the Republican party.
He guideth me in the path of unemployment for his party's sake.
Yea, though I walk through the valley of the bread line,
I shall fear no hunger, for his bailouts are with me.
He has annointed my income with taxes,
My expenses runneth over.
Surely, poverty and hard living will follow me all the days of my life,
and I will live in a mortgaged home forever.
I am glad I am American,
I am glad that I am free.
but I wish I was a dog .....
and Obama was a tree.

Mudge said...

I'm sure this was brilliant, but it appears I am far less so. I felt I would be smarter upon completion of your assignment (to read this). Alas, all this did was to remind me of why I took one, and ONLY one, course in economics.

Also, my increasingly forced concentration was broken frequently by "Just Deserts." I kept thinking that cactus icecream would be an interesting desert dessert.

Mark Gorenflo said...

Thanks, I enjoyed the paper. It reminded me that I once knew who Nozick was and what he thought. Now, with early onset Alzheimers and adult onset ADD, I can barely recall the principles of economics in the courses I took a year ago. Sic transit gloria mundi.

Smoothfur said...

Some observations and Questions from a man of limited intellect:

1. The increase in population of lower income may have something to do with the greater influx of illegal, uneducated and unskilled people.

2. The taxation to height correlation would be skewed due to the majority of the people in the above category being genetically short in stature and low income earners.
And this would exacerbate my existent tendency to slouch.

3. Keep in mind that it is the wealthy who risk their capital to create businesses and provide jobs for the lower income earners. A higher tax rate would remove that capital from the private sector job market.

4. The reason most Americans are willing to increase taxation to provide for the poor is that the majority believe that they will be the recipients rather than the providers of this largesse.
This brings to mind the old "Give a man a fish Vs. Teach a man to fish" axiom.

5. If you pay by who contributes most to the Corporation, the ship etc consider this; Who would be more sorely missed if they were away for a week or two and not replaced. The CEO or the Janitor? The Captain of the ship or the boiler man?

6. Since Government jobs now pay more than the average civilian sector jobs with better benefits that are all funded by the taxpayers, should they not pay a higher tax rate?

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