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More retirees, longer life expectancy, larger benefits, and fewer workers - these trends have meant substantial increases in the payroll tax. Since the social security program began, the payroll tax has increased more than 500 percent.
Alex Tabarrok
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Alex Tabarrok
Age: 58
Born: 1966
Born: January 1
Economist
Islamic Republic of Iran
Alexander Taghi Tabarrok
Retirees
Percent
Larger
Payroll
Longer
Began
Expectancy
Security
Workers
Substantial
Since
Meant
Increases
Social
Increase
Increased
Life
Benefits
Trends
Program
Taxes
Fewer
More quotes by Alex Tabarrok
A bet is a tax on bullshit and it is a just tax, tribute paid by the bullshitters to those with genuine knowledge.
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Hollywood wants its heroes to be virtuous, but it defines virtue in a way that excludes any action that is self-interested. If virtue means putting others ahead of self, then it's clear that most people, let alone most capitalists, aren't very virtuous.
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It seems to me that the price of eternal vigilance is liberty.
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Education is the key to the future: You've heard it a million times, and it's not wrong. Educated people have higher wages and lower unemployment rates, and better-educated countries grow faster and innovate more than other countries. But going to college is not enough. You also have to study the right subjects.
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Conservatives have long argued, correctly, that 'fine-tuning' the economy is a chimera, but that argument seems to have disappeared from the conservative handbook.
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America has the highest standard of living of any major country in the entire world. To maintain and enhance that standard of living, America should continue to embrace those qualities which have made America great: openness and dynamism. Openness to new technologies, new ideas and new people is America's greatest source of strength.
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Michael Moore didn't have to worry that anyone would misinterpret the title of his film, 'Capitalism: A Love Story,' because in Hollywood, no one loves capitalism. That's too bad, because Hollywood is one of capitalism's greatest successes.
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Patents are like fertilizer. Applied wisely and sparingly, they can increase growth. But if you apply too many chemicals, or make patents too strong, then you can leach the land, making growth more difficult.
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College has been oversold. It has been oversold to students who end up dropping out or graduating with degrees that don't help them very much in the job market. It also has been oversold to the taxpayers, who foot the bill for subsidies that do nothing to encourage innovation and economic growth.
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What we tell students in formal schooling: “Sit down, stay quiet, and absorb. Do this for 12 to 16 years and all will be well.
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The first thing you learn when you're blogging is that people are one click away from leaving you. So you've got to get to the point, you can't waste people's time, you've got to give them some value for their limited attention span.
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Going to college is neither necessary nor sufficient to be well-educated.
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Like many works of literature, Hollywood chooses for its villains people who strive for social dominance through the pursuit of wealth, prestige, and power. But the ordinary business of capitalism is much more egalitarian: It's about finding meaning and enjoyment in work and production.
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It would be really great if I discovered a cure for cancer, but it would only be a little bit less great if my neighbor did. So I am pretty happy when my neighbor becomes wealthier, better educated and more innovative. I feel the same about China and India.
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Capitalists work hard to produce what consumers want. Artists who work too hard to produce what consumers want are often accused of selling out. Thus, even the languages of capitalism and art conflict: a firm that has 'sold out' has succeeded, but an artist that has 'sold out' has failed.
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If China and India were as rich as the United States is today, the market for cancer drugs would be eight times larger than it is now.
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A lot of people say that India has been held back by its democracy. But lets remember that, despite being a poor country, Indias democracy meant that its government never let millions of people starve.
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