Economics

Students Shocked By Their Share of the National Debt

The debt ceiling debate, out of control federal spending, higher taxes…what does it mean for future generations? The federal government’s suspension of the borrowing limit has expired and Congress will now need to deal with over $18 trillion in national debt by either facing the unlikely scenario of default or by passing a new spending…

Do the Rich Pay Their Fair Share?

Do the rich pay their fair share of taxes? It’s not a simple question. First of all, what do you mean by rich? And how much is fair? What are the rich, whomever they are, paying now? Is there any tax rate that would be unfair? UCLA Professor of Economics, Lee Ohanian, has some fascinating…

Why Government Money Can’t Fix Poverty

The recent history of Camden, New Jersey, which is the poorest small city in America, provides a case study of the tragic ineffectiveness of government programs at ameliorating poverty. State and federal taxpayers have spent hundreds of millions of dollars on various redevelopment programs in Camden over the years, but the money never ended up…