Economics

Why a New IRS Change Will Push Some Entrepreneurs Into Corporate Desk Jobs 0
- Economics
- December 13, 2023
As the end of the year approaches, the IRS has announced its new late repayment penalty rate. The rate has climbed from around 3% two years ago to 8% today. Most workers in the US are W-2 employees and have taxes deducted from their paychecks each pay period. However, if those employees claim more exemptions,
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The Miracles of Human Cooperation Are Hidden in Plain Sight 0
- Economics
- November 29, 2023
Recently, my wife and I had occasion to shop at Trader Joe’s just before closing time. The docks to the storage level were open, and the space inside was stacked from floor to ceiling. Workers were unloading trucks and adding to the brightly lit cornucopia. What happens at night is invisible to the thousands of
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How Can We Stop Serving Students So Poorly?1
- Education, Economics
- November 21, 2023
In 1942, there were 108,579 public school districts in the United States. By the 2020-21 school year, there were only 13,187. That massive consolidation of school districts was propelled by the belief that economies of scale created by larger school districts would lower costs and serve students better. Those presumed efficiencies have not, however, been demonstrated in practice.
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2024 Federal Tax Brackets Are Out. Find Out Which Bracket You’re In—and Why Tax Rates Are So High 0
- Economics, Politics
- November 17, 2023
The IRS released new federal income tax brackets last week. Though marginal tax rates did not change, federal law requires the brackets to be adjusted for inflation, and this is how they shake out. Marginal rate Individual income Married couples filing jointly 10% $11,600 $0-up to $23,2000 12% $11,600 to $47,150 $23,2000 to $94,300 22% $47,150
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Why Adam Smith Would Have Been a Baseball Fan 0
- Economics, Entertainment
- November 15, 2023
There is no evidence, as far as I know, that Adam Smith ever heard of the game of baseball (for the record, ChatGPT considers it “highly unlikely”). Nonetheless, the two were, broadly speaking, contemporaries and compatriots. The first game of which a record exists was played in Surrey, England in 1749, only a year after Smith began
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The Incandescent Ban and the Lie of LED Efficiency 0
- Economics
- October 19, 2023
It happened as I went to grab a new package of baby wipes from under the sink. I flipped on my bathroom light, and I noticed something strange—one of my three mirror light bulbs began flickering and ultimately settled at a barely luminous dim setting. My LED light went out. The problem is, I changed
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