A new study of the 2017 federal tax cuts has found that, although controversial when adopted, the tax reform law will lead to lower taxes and higher wages as the average Georgia household will enjoy more than $39,000 in economic benefits over their lifetime. That’s the conclusion of a new study by Boston University professor Laurence Kotlikoff and funded by the Goodman Institute for Public Policy Research. An earlier study by Kotlikoff and economists at the Federal Reserve Bank of Atlanta estimated the gain at $22,676 because of personal income tax cuts. The new study adds the impact of lower corporate taxes. More
Articles first published in Forbes Magazine
Finance and accounting are probably the easiest health care services to outsource. But the potential list is growing. It’s estimated that one-third of all physician visits could be replaced by consultations using Zoom, Skype or Facebook – and the incidence of such remote consultations is soaring.
In the future, your doctor could be in India. So could your accountant, your lawyer and dozens of others who produce goods and services you consume. More
Avik Roy’s think tank, the Foundation for Research on Equal Opportunity (FREOPP), has produced a health reform proposal that has been introduced as a bipartisan bill in Congress. There is a lot of overlap with proposals you will find in the Health Care Choices document (endorsed by more thatn 70 representatives of think tanks and public policy organization) and many of these ideas are being implemented buy the Trump administration. More
Until recently, every patient with the coronavirus in the United States for the past ten months has been treated with a non-approved drug. What allows doctors to do this? They have always been able to do it.
In medicine, the use of non-approved drugs is ubiquitous. In fact, medical science couldn’t progress without it. In treating a patient with a brand-new condition (like Covid), for example, doctors often experiment with drugs that have worked for related conditions. They compare notes. They trade data on outcomes. They discard less-promising therapies for more promising therapies – in a trial and error process. More
The long-run loss to the US capital stock is roughly 6 percent and the long-run decline in output is roughly 2 percent. We predict a roughly 2 percentage-point reduction in wages of US workers, with a larger reduction in the wages of high-skilled workers. Changes of this magnitude could significantly offset the micro gains to low-wage and middle-wage workers of Biden’s fiscal reforms. More
The best position on pre-existing conditions is not to argue that the problem is small, although it certainly is, writes John Goodman at Forbes. Our argument should be that many – perhaps most – people who come to the individual market with a pre-existing condition are worse off because of Obamacare than they would have been under the old system. And that there is a conservative approach that is much better. More
There are a surprising number of illiberal proposals, including health insurance subsidies, Medicare enrollment for seniors who are wealthy and already insured, two years of free college – subsidizing the single greatest cause of income inequality. “The puzzle in all this is, Why? Why impose a whole slew of new taxes on the rich and then turn around and give them a whole slew of new benefits?” More
With paper-strip tests, Americans could test themselves every day in their own homes, at a cost of $1 to $2 per test. The government could even make the tests available for free. Unlike lengthy swabs and finger prick tests (which cause personal discomfort), paper strip testing involves no more than spitting into a tube or the use of a short nasal swab – with results in a few minutes. By contrast, the standard PCR test currently being used costs from $50 to $100 and sometimes more. Results can take more than a week – and that makes them virtually useless. Also, testing tends to be a one-time, irregular event. More
Back in April, I wrote about Bank of America’s horrible handling of Payroll Protection Loans…. I received one email after another written by business owners who experienced the same nightmare. I then wrote a column, copying some of these emails, and calling on BofA President, Brian Monyihan, to listen to the truly awful manner in which he and his colleagues were treating his customers, many, like me, who had been customers for decades. More
Same-day, time-stamped cell-phone pictures … of negative test — tests, which were approved and supplied to everyone for free by Uncle Sam — would be required to enter the workplace, fly on an airplane plane, frequent a restaurant, enter a store, or attend a school, college, or university. If home tests weren’t perfectly precise, you’d likely need to show several days of negative test results. These requirements would be established by market players, not by government decree. More