There’s a big push for socialism in the United States. The problem is that it just isn’t going to work in America. With socialism, there’s a lot of centralization, especially with regard to economic policy. Real socialism wouldn’t allow for many things most Americans take for granted. Economically speaking, people would have to completely disregard their personal utility (satisfaction). We need to be honest when we talk about socialism. Tens of millions have died at the hands of its ideology, mostly from starvation. But this is just the tip of the iceberg. Continue reading
Before Donald Trump was elected president, there was a lot of negative media coverage with a lot of pundits predicting that he would wreck our economy. About a year and a half into his presidency, it appears to have been the exact opposite. But why? Does it really make sense for the economy to have been doing so well with these crazy policies, insane tweets, and political rollercoasters of emotion? The short answer is yes.
While I may have studied economics, I cannot say for sure what the reasons are for this economic boom under Trump, which has been beyond piggybacking off of Obama’s economy for some time. I will try to explain what’s going on as I understand it.
Now that President Barack Obama is just a couple of weeks away from transferring power to President-elect Donald Trump, news reports are coming out in praise for who will soon be a former president. Recently, I published an article that shows what the employment situation really looks like when we look outside of the confines of the unemployment rate. Let’s apply this concept to the entire tenure of Barack Obama and see exactly how things look comprehensively compared to when he took office.
After Seattle passed legislation to raise its minimum wage to $15, we’ve seen some restaurants and business owners announce that they’re expanding and even opening completely new restaurants around town. Supporters everywhere have deemed the legislation very successful. The only issue is that there isn’t any evidence that it’s really successful yet; the law doesn’t go into full effect until seven years after the law has been passed.
Currently, the law has pushed the minimum wage in Seattle up to $11 per hour. While there have been many cases of restaurants announcing their planned (not yet in stone) expansion, there has finally been one business that is publicly announcing their closure. To understand everything, we’ll need to go into the law itself a little bit as well as explore the unintended consequences people didn’t understand before supporting this law. We must get into this before understanding how this “success” is actually a bubble.
After reading into Oregon’s 10-year plan outcome areas for the economy, I noticed something that really worries me. It mentions closing the income inequality gap and getting the per capita income above the national average. Trying to close the income inequality gap is a nice idea, but raising the per capita income isn’t a good indicator of economic success. This is because it can be raised by the rich getting richer or, worse, the poor getting poorer.
Many people in the past have told me that they refuse to live in Oregon just because of a state income tax as well as other taxes. They said they would much rather pay 9.5% (Seattle, WA) in sales taxes. I think it’s about time that these people got the rude awakening that they deserve by looking at this a little closer.
Just to clarify, this would only be an increase to a tax that already exists. Income tax is only taken out here and there throughout the year and you don’t have to worry about having enough for tax. However, when you have a sales tax it’s much more than just worrying about having enough money to cover the tax. You also deal with the lack of control that the people have over the increases and decreases in your sales tax. When I moved to a place nearby Seattle called Kent, the sales tax rate was about 6.5%. Now it’s up to 9.5%? Politicians lied to us, saying that it was only going to be a temporary increase.
Rexburg, Idaho is home to one of the most affordable colleges with an amazing quality education in the United States. The high standards of Brigham Young University – Idaho (BYU-Idaho or BYU-I) keep the students performing well. But are they starting to get a little too high? Academic scholarships require higher GPAs, student health insurance soared by $130, and the rent rates are increasing all around the city.
This article is an assessment of housing, work, necessities, and the cost of school. It does not include food or gas due to the nature of their prices. It is informational to those attending school here and very helpful for those who are considering attending school here.