Economics & Political Systems

What’s Wrong with a Tax on Billionaires?

Among the many radical economic plans offered by various Democratic presidential candidates, Senators Bernie Sanders and Elizabeth Warren have proposed an annual wealth tax on billionaires (and other “ultra-rich” Americans). Sanders has bluntly stated, “There should be no billionaires.” These … Continue reading

Division One Athletics: It’s About the Money

During an episode of Lebron James’ online show “The Shop,” California Governor Gavin Newsome signed into law a bill allowing California student athletes to sign endorsements while in college. The NCAA Board of Governors, having studied this issue for years, responded … Continue reading

Is the Federal Reserve Apolitical?

President Donald Trump has had (what else?) a publicly tempestuous relationship with the Federal Reserve System. Fed Chairman Jerome Powell has adhered to the Fed’s official traditional position of being apolitical. Typical of Powell’s statements is the unequivocal assertion, “Political considerations … Continue reading

Brexit: What Is at Stake?

I feel badly for the people of the United Kingdom. Brexit – the move to withdraw the UK from the European Union – has left the United Kingdom anything but united. Even families are being ripped apart. The most notable … Continue reading

Boris Johnson’s Challenge

This article was first published by firstthings.com. The advent of Boris Johnson as British prime minister has a feeling of inevitability about it. Theresa May was undoubtedly a “decent” person, in the English sense of the word, but she was … Continue reading

On Trump, Democrats, and Socialism

I published a piece recently on the reaction to President Trump’s condemnation of socialism in his State of the Union. He said something indisputably factual and indubitably obvious to most Americans: “Here, in the United States, we are alarmed by … Continue reading

The Folly of Minimum Wage Laws

Pennsylvania Governor Tom Wolf has proposed raising the legal minimum wage to $12 per hour on July 1, 2019, and then an additional 50 cents per year until the minimum wage reaches $15 per hour in 2025. Laws mandating a minimum wage … Continue reading