For the better part of six years I (and others) have been explaining that the economy is not in very good shape. Now we have a vast quantity of empirical evidence supporting our argument. Continue Reading →
A market solution to the health insurance problem is pretty straightforward. Each household estimates the upper limit on what they can afford to lose. They then buy a pure insurance policy with that amount as the deductible. I Continue Reading →
I wish I could say there is good news in this report. But the best I can offer is that some trends seem to have leveled off. At this point, however, it’s safe to say the U.S. economy has lost a substantial number of young potential workers who will never make up the ground they have lost.
In some of my other research I’m exploring the possibility that these younger people may actually be working in the “informal sector” (also called the underground economy or hidden economy). It’s possible that the growth of this sector has absorbed some young people, meaning that the reported LFPR’s are lower than the actual participation rate. … Consider the Affordable Care Act. This plan fundamentally requires young people to subsidize health insurance for older people. One way to avoid this tax is to not report any income (and therefore not file any tax returns). Working off the books for cash probably looks like a pretty good deal to some of these folks. Continue Reading →
California, naturally, is one of the states that bought into the Medicaid expansion under Obamacare. In my lovely state the program is called MediCal. It turns out that Obamacare includes a hidden new death tax. Continue Reading →
The Times editorial board has now officially become a propaganda wing of the Obama administration. Updated Feb. 6 to include a video clip showing CBO Director Dr. Douglas Elmendorf replying to questions from Rep. Paul Ryan (R-Wisconsin). Dr. Elmendorf confirms that the reduction in labor supply directly leads to the CBO forecast of lower economic growth. Continue Reading →
“The Chapmans acknowledge that they are better off than many people, but they represent a little-understood reality of the Affordable Care Act.” … Perhaps this was “little-understood” by the geniuses who run the New York Times. But many economists, including me, pointed out that costs and prices would inevitably rise given the mandates and rules included in Obamacare. Continue Reading →
Markets Vote With Their Feet: Stampede for the Exits Continue Reading →