Tag: economic policy

Americans Forced to Work Job Just to Put Food on Table

 

A husband and father to three children, Dan Allen has been receiving a vast array of city, state, and federal unemployment benefits since being furloughed from his job when the COVID-19 crisis struck last March. Nevertheless, Mr. Allen and millions of Americans just like him are learning the hard way that government largesse just isn’t enough. Shortly after the initial lockdown last spring, Allen decided to swallow his pride and return to work.

“I’m not proud of it. But my wife and I sat down and crunched the numbers and there was no way around it: I was going to have to begin earning again,” he said.

Policymakers in Washington are struggling to deal with a problem that has perplexed public officials since the New Deal: how to keep people from relying on work to support themselves?

Oren Cass joins City Journal editor Brian Anderson to discuss his new book, The Once and Future Worker: A Vision for the Renewal of Work in America.

The American worker is in crisis. Wages have stagnated for more than a generation, and reliance on welfare programs has surged. Life expectancy is falling as substance abuse and obesity rates climb. Work and its future has become a central topic for City Journal: in 2017, the magazine published its special issue, The Shape of Work to Come.

Milton Ezrati joins Seth Barron to discuss President Trump’s talk of tariffs, China’s vulnerability in a potential trade war with the United States, and the history of the global trade order.

A tumultuous recent meeting of the G7 nations, trade disputes with Canada, and tariff threats against China all point to a shakeup of world trade. While the global economy would likely suffer in a trade war, Ezrati argues that the U.S. actually has the upper hand in trade negotiations with Beijing.

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Having recently moved to the greater Washington DC area, I am in need of a new job.  Our own Mollie Hemingway suggested adding my resume to the Heritage Foundation Job Bank.  Applicants submit their resumes so that think tanks, politicians, and other organizations have a pool of politically-engaged potential employees to start their hiring process. […]

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Richard Epstein warns of the dangers of Donald Trump’s position on international trade, and considers controversies about trade deficits, the border adjustment tax, and job losses due to automation.

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If nothing else, Conservatives agree that the purpose of government is to conduct a foriegn policy that is in the best interest of its citizens. This imperative is so strong, that it’s often permissible to cause the deaths of innocent foreigners as long as the government is carrying out its citizen’s interest in a reasonable manner. Where […]

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Back in 1994 and 1995, Disney created an animated series based on its popular movie Arabian Nights. Following the direct to VHS sequel The Return of Jafar, the Aladdin series continues the adventures of the title character and friends. Now in one of the episodes, “Power to the Parrot” involves Iago (voiced by Gilbert Gottfried), […]

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Hillarynomics: Bill’s Third Term or Barack’s?

 

Hillary_clinton_reuters_031215New York Times reporter David Leonhardt asserts that “for all their similarities, Hillarynomics (the phrase “Clintonomics” is already taken) and Obamanomics will not be identical.”

Maybe not, but the piece makes me think they’ll be pretty darn similar. For instance: Like President Obama, Clinton may seek middle-class tax cuts and pay for them through higher taxes on the rich. Would those tax hikes come through higher rates or scaling back tax breaks? Obama has done both. Would Clinton want to take the top statutory income tax rate above the current 39.6%, the top rate during hubby Bill’s administration? Similarly, as Times reporter Josh Barro wonders, would she take the capital gains tax rate above 20%, the current rate (not counting the 3.8% Obamacare tax) and the top rate during Clinton I? Back during her 2008 presidential campaign she said she would not.

Leonhardt goes on to mention a recent report put forward by the Center for American Progress’s Commission on Inclusive Prosperity, “a group with close ties to Mrs. Clinton,” which contains a number of policy suggestions. It was co-written by Larry Summers, economic adviser to Obama and Bill Clinton, and focuses both on growing the economy faster and increasing labor’s share of the gains. (I would advise paying close attention to his writings for clues to how Hillarynomics might evolve.)

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The number of folks employed in January, according to the BLS, was some 145,224,000.  The number employed in February was 145,266,000, an increase of some 42,000.  That’s a small number, but at least it’s an increase, so that’s good, right? The average work week for February was 34.2 hours, down from 34.3 hours per week […]

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