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Tag Archives: Scott Winship

New Evidence: The Expanded Child Tax Credit’s Disincentives

In my previous post, I described how budget gimmicks prevent politicians from having to explain whether or not the policies they push are pushing desirable social and financial objectives. Here is a good example. Two weeks ago, I wrote about the serious problem with Congress’s attempt to expand the child tax credit. Well, new evidence suggests that opponents of the programs are correct about its short and long term consequences, which go beyond its $1.6 trillion cost...

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Poverty Isn’t Just About Money: Expanding the Child Tax Credit

The Wall Street Journal’s editors have written another great editorial, this time on the expansion of the child tax credit into an UBI [Universal Basic Income] for children. Parents can now claim a maximum of $3,000 for those ages 6 to 17 and up and $3,600 for children under age 6, up from its previous $2,000 level. The expanded part of the credit begins to decrease as income rises above $75,000 for individuals, $112,500 for heads of household, and $150,000 for...

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The Damage Yet to Come from the “Stimulus”

In my previous Defining Ideas article, “An Unnecessary ‘Stimulus’ ” (March 5), I laid out why the about-to-be-passed $1.9 trillion federal spending bill was unnecessary. I also pointed to a few major spending items in the budget that were clearly unjustified, such as the unneeded bailout of state and local governments. But I didn’t point out that the bill will also cause harm in the long run. The harm will be of two kinds. The first is in the realm of ideas: many...

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Winship Psychoanalyzes Economic Pessimism

I’ve spent years telling Tyler Cowen that conventional price indices are upwardly biased, so his stagnationist views are wrong.  And he’s spent years replying that my views are sadly out-of-date.  In this piece, the highly up-to-date Scott Winship unequivocally reaffirms the classic view that indices are indeed upwardly biased.  Indeed, the old Boskin Report was probably too cautious: The chart shows that from 1969 to 2012, the PCE and my extended C-CPI-U series...

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