We hear all the time that medical costs are too high in the U.S., and that Medicare is going to go bankrupt in the future. The President-Elect recently told us in a press conference that drug companies are “getting away with murder.” So how high are drug prices, and are those prices contributing at all to the high medical costs in the U.S.?
Two economists and a cognitive psychologist at the University of Oregon conducted a study that found some people really don’t mind paying taxes. The study participants were given $100 each and told that they had to pay a portion of the money as a tax to a local food bank. A machine studied which of their brain regions were tapped as they did this.
Anybody who was surprised that the Federal Reserve Board decided to raise its benchmark interest rate this week probably wasn’t paying attention. The U.S. economy is humming along, the stock market is booming and the unemployment rate has fallen faster than anybody expected. The incoming administration has promised lower taxes and a stimulative $550 billion infrastructure investment.
Many of President-Elect Donald Trump’s policy proposals are too vague to analyze, but one area where he has been clear is on reforming our tax system. Here’s a quick primer on the changes that you can expect to be introduced to Congress in the coming year.
1) A shift from seven income tax brackets to three:
The big question in Europe this year is how the British people will vote on June 23. Will they vote to leave the European Union (what’s being called the “Brexit”) or decide to continue to be part of the 28−nation economic alliance?
Job Growth and Public Sector Employment Growth by Presidential Term
You read a lot about job creation and governmental policies, especially in this era of lingering, lagging economic growth, especially from political figures who are hoping to get elected based on their policy prescriptions. Republican candidates like to talk about the growth of jobs during Ronald Reagan’s presidency, while Democrats tout the presidential terms of Bill Clinton.
But has anybody ever calculated the actual growth in jobs during the various presidential
Last week, the U.S. stock markets went up 2.95%. Tuesday was the highest one-day return in a month. Analysts attributed the rise to a variety of economic news that suggested that the American economy is not, after all, plunging into recession. The buoyant mood among investors may not last, but for many, it’s a welcome sign that things may not be as gloomy as they seemed just a month ago.
After the recent downturn in the U.S. and global stock markets, you can be pardoned if you wished that the markets were a bit tamer. Wouldn't it be nice to get, say, a steady 4% return every year rather than all these ups and downs?