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Warren's Wealth Tax Only Makes Sense if the American Dream is Dead

Who wants to be a millionaire? Everyone. Who should be a millionaire? No one. That at least seems to be the underlying aim of Sen. Elizabeth Warren’s (D-MA) “Ultra-Millionaire Tax.” The most recent round in the bare-knuckle brawl over the distribution of American billions started last month when the presidential candidate laid out her plan to improve the public education system, an $800 billion plan that she says will be completely funded as part of the projected $2.75 trillion in revenue...

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Trump’s Trade Policy Has Produced Damaging Tariffs but Little Else

Americans are about to enter the third full year of President Donald Trump’s aggressive tariff regime, which aims to promote US manufacturing, protect key industries, and prompt other nations to reduce their trade barriers. So, it’s a good time to stop and ask whether tariffs are producing the results desired by the president and other supporters of his trade policies. It’s an important question for America’s economic future as well as for the president’s reelection chances. But with ongoing...

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The 12 Economists of Christmas: Adam Smith

In the spirit of the holidays, we are examining the work of 12 great economists, specifically using the Christmas season to illuminate some of their core insights. Today, we reflect on Adam Smith, the 18th century Scottish thinker who coined the now oft-used phrase, “the invisible hand,” and who is widely regarded as the father of modern economics. Our examination of Smith’s ideas begins in the nation’s stores, where, every November (and increasingly October), like clockwork, holiday loot...

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New Research on Delivery System Innovation and Medicaid Expansion

Delivery System Innovation Is the Key to Better Healthcare Robert Graboyes | Testimony Mercatus scholar Robert Graboyes recently testified before the Rural and Underserved Communities Health Task Force to discuss possible solutions and policy prescriptions to end the zero-sum game of healthcare policy. He suggests less emphasis on payment models and more focus on the delivery of care, which is more likely to increase quality of healthcare.  He suggests a larger increase of resources by...

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The 12 Economists of Christmas: Milton and Rose Friedman

The holidays are a time for people to gather with family and give thanks for the blessings of the past year. For those of us living in market economies, we have much to be thankful for, including the work of a group of famous economists who have done much to shape our understanding of wealth creation and prosperity. From now until Christmas, we will look at the economic lessons of twelve of these economists, and examine how their ideas tie in to our holiday celebrations. Today, we begin the...

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The Economic Situation, December 2019

As 2019 comes to a close, America has a highly employed but slowing economy. The nation’s unemployment rate is 3.7 percent and real GDP growth is less than 2.0 percent. But the International Monetary Fund (IMF) says the world economy is cooling. According to the IMF, much of the slowdown in world GDP growth—from 3.8 percent in 2017 to 3.0 percent now—results from a sharp decline in world exports. Growth rates in world exports have fallen from 5.7 percent in 2017 to 1.1 percent now. Yes, the...

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Claudia Sahm on the Sahm Rule and Using Big Data to Inform Policymaking

Claudia Sahm is the director of macroeconomic policy at Equitable Growth, and was formerly at the Board of Governors as a section chief in the Consumer Community Affairs Division as well as serving on the staff macro forecast. Claudia specializes in macroeconomics and household finance, and she joins the show today to talk about some of her work. David and Claudia also discuss her experience working at the Federal Reserve Board of Governors, the conception of the Sahm Rule, and the importance...

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Delivery System Innovation Is the Key to Better Healthcare

Chairman Neal, Ranking Member Brady, and distinguished members of the Rural and Underserved Communities Healthcare Task Force, Thank you for the opportunity to contribute some policy suggestions to the Rural and Underserved Communities Health Task Force concerning accessibility and affordability. I am Robert F. Graboyes, a senior research fellow at the Mercatus Center at George Mason University and healthcare scholar in its Open Health program. My work focuses on how public policy can bring...

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