EppsNet Archive: Greg Mankiw

I Don’t Understand What Warren Buffett is Talking About

In an op-ed for the New York Times, Warren Buffett argues that higher taxes won’t keep the super-rich from trying to make money: Suppose that an investor you admire and trust comes to you with an investment idea. “This is a good one,” he says enthusiastically. “I’m in it, and I think you should be, too.” Would your reply possibly… Read more →

Educating Oligarchs

Education not only increases the average income a person will earn, but it also changes the entire distribution of possible life outcomes. It does not guarantee that a person will end up in the top 1 percent, but it increases the likelihood. I have not seen any data on this, but I am willing to bet that the top 1… Read more →

The Rich Get Poorer

Here is a fact that you might not have heard from the Occupy Wall Street crowd: The incomes at the top of the income distribution have fallen substantially over the past few years. According to the most recent IRS data, between 2007 and 2009, the 99th percentile income (AGI, not inflation-adjusted) fell from $410,096 to $343,927. The 99.9th percentile income… Read more →

Twitter: 2009-09-21

Why Health Care Will Never Be Equal – http://bit.ly/F1e8P # RT @Lileks: I'd paint that with a hammer! #failedcatchphrases # Read more →

Unicorn Dust and Pixie Wings

Donald Marron points out that another one of those great cost-saving ideas in the healthcare debate (the Independent Medicare Advisory Council) has taken a hit: CBO estimates that the proposed legislation would save a paltry $2 billion over the next ten years, less than 1/500 of the 10-year cost of health reform. Damn that CBO! They keep killing all these… Read more →

Trust

I tend to distrust power unchecked by competition. This makes me particularly suspicious of federal policies that take a strong role in directing private decisions. I am much more willing to have state and local governments exercise power in a variety of ways than for the federal government to undertake similar actions. I can more easily move to another state… Read more →