Category Archives: Economics

Miscellaneous economy stuff

How Much

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Progressive-Democratic Party politicians constantly and loudly insist that they need to raise taxes so that the rich actually pay their fair share.

Here are some data on what Americans actually pay at various levels of tax remittances.Notice, too, that the Federal Poverty Guideline for a family of four in 2020 was $26,200 for the Lower 48 and DC.

And there’s this, showing the progressing progressiveness of our tax code.Even as that marginal tax rate has come down, the percentage of total income taxes paid by those Evil Rich has gone up.

This is why those Progressive-Democrats steadfastly refuse to say how much is that “fair share,” whether in dollars or in rates.

Some Questions Arise

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The just-achieved ability to get more energy out of a controlled fusion process than was put into the process is a tremendously positive step in generating power for our economy.

Some questions arise, though, that want answers before this achievement can be brought to actual, economic, widespread fruition.

  • What is the efficiency of released energy capture? If the energy actually captured is less than the energy input, the process (so far) wouldn’t seem economically feasible.
  • How long did the test last—not so much in terms of time, but over how many hydrogen fuel “pellets” in the stream fed into the process?
  • Did the energy budget measured include the energy required to generate, preserve, and deliver to the reaction process those hydrogen “pellets?” Strictly speaking, that’s not ordinarily included in measuring the success of the process itself, but it is important in assessing the end-game economics of the matter (think of the energy budget of a gasoline or battery car when measuring efficiency—those don’t ordinarily include the energy costs of getting the fuel/electricity inputs out of the ground and delivered to a gasoline/recharging station, but they’re important to the overall economics)

Problems to be solved a bit later include emergency shutdown procedures

  • Shutting the lasers as gracefully as possible so as to “merely” extinguish the fusion reaction
  • Handling the energy release from a failure of the fusion containment process

Still, to repeat, this is a terrific step forward for man-controlled fusion and for energy generation generally.

This is Why

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Georgia recently won a court case in which the Biden administration had—illegally, as it turns out—blocked its program to expand Medicaid eligibility to individuals making up to 100% of the federal poverty line ($13,590 for singles) while conditioning benefits on working, going to school, or volunteering 80 hours a month.

However, under the Families First Coronavirus Response Act of 2020, States are unable to remove able-bodied Medicaid folks—i.e., folks who are fully capable of working but who choose not to—from their Medicaid rolls as long as the Wuhan Virus emergency remains in effect. The CDC conveniently continues to extend that “emergency,” even though no less a light than our Progressive-Democrat President, Joe Biden, has said the emergency is over.

Alternatively, Georgia could remove those folks and the Federal government could withhold hundreds of millions in federal funds. In all, the Federal government mainlines $130 billion in additional Medicaid funds into all the States’ veins.

As The Wall Street Journal‘s editors put it,

The emergency is a Faustian bargain for states….

This is why it’s at best idiotic for any State to take Federal (our taxpayer) money under any circumstance. The dollars don’t come with strings attached; they represent yokes around the States’ necks.

I Agree with the Progressive-Democrat

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California Congresswoman Rosa DeLauro, the Progressive-Democratic Party member who chairs the House Appropriations Committee, claims she’s open to a tax cut deal.

Our ask is simple: if we can provide tax cuts for America’s corporations, we can certainly provide a tax cut for America’s kids[.]

I agree, and it is a simple ask. Provide the tax cut for America’s kids by reducing the personal income tax rates their parents have to pay.

Sadly, DeLauro isn’t at all serious.

Impressiveness

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Federal Reserve Chairman Jerome Powell had this to say about handling the burgeoning inflation extant in today’s American economy:

Slowing demand growth should allow supply to catch up with demand and restore the balance that will yield stable prices over time.

It’s impressive that a government official as steeped in economics as Powell is has such a deep misunderstanding of the situation.

It’s not a matter of slowing demand growth, it’s a matter of slowing government demand growth. The private economy, especially when it’s not competing with government for goods and services—and for the inputs to those goods and services—will easily and efficiently take care of itself, with changing supply and demand comprising self-correcting stabilizers on our economy.