HispanicPundit + leonhardt   61

Opinion | Eliminating All Student Debt Isn’t Progressive - The New York Times
The fatal flaw of universal student-debt cancellation is that it’s not, in fact, progressive. It mostly benefits the upper middle class. “Education debt,” as Sandy Baum and Victoria Lee of the Urban Institute have written, “is disproportionately concentrated among the well-off.” The highest-earning quarter of the population holds about half of all student debt, according to Baum and Lee. Which means that universal student debt cancellation would be a giant welfare program for the bourgeoisie.
tuition  subsidies  Democrats  regressive  University  loans  leonhardt  NewYorkTimes 
december 2018 by HispanicPundit
Upward mobility in the United States is not declining as many citizens think
Here is summary coverage from David Leonhardt. The highly reliable David starts with this: “The odds of moving up — or down — the income ladder in the United States have not changed appreciably in the last 20 years, according to a large new academic study that contradicts politicians in both parties who have claimed that income mobility is falling.”
mobility  inequality  leonhardt  cowen 
january 2014 by HispanicPundit
Greg Mankiw's Blog: A regression I would like to see
The finding in the last sentence (which I put in bold) is the opposite of what the Leonhardt story suggests. What this means is that if you are a college admissions officer trying to identify the students who will do best in college, as measured by grades, you would give positive rather than negative weight on family income. I am not proposing that they should do this, as colleges have many goals when putting together a class. But it does seem that the hypothesis implicit in Leonhardt's article is not supported by the data.
university  affirmative-action  IQ  sidebar  mankiw  leonhardt  wages 
april 2013 by HispanicPundit
Greg Mankiw's Blog: Two Reactions to the SOTU
David usefully asks for a response to my rebuttal from the Center on Budget and Policy Priorities, a liberal-leaning research group in Washington. Chuck Marr, the center’s director of federal tax policy, emailed David back.  Click through the link above, and read carefully what Mr Marr has to say.  Does it respond to my arguments?  No, not at all.  Mr Marr just changes the subject.  He follows the age-old advice for politicians: Don't answer the question they asked, answer the question you wish they had asked.  This might work for some voters, but I am sure it won't for the careful analysts who read this blog.  One might reasonably take Mr Marr's non-response as an admission that President Obama's claims about the taxes of Mr Buffett and his secretary don't hold up under closer examination.
sidebar  mankiw  leonhardt  buffett  taxes  corporate 
january 2012 by HispanicPundit
More on Mitt Romney's Tax Rate - NYTimes.com
First, I focused on direct taxes. If you also include indirect taxes — mainly corporate taxes, effectively paid by stockholders — Mr. Romney’s rate rises higher. On average, the top 1 percent of earners pay about 10 percent of their income in corporate taxes, according to the Congressional Budget Office.

Companies officially pay these taxes. But by reducing the after-tax earnings of the company, the taxes ultimately come out of the pockets of the company’s owners. Economists, with good reason, like to apportion all taxes to people, rather than to an entity like a corporation.
corporate  taxes  progressive  romney  leonhardt  economix  sidebar 
january 2012 by HispanicPundit
Economic Blind Spots, Left and Right - NYTimes.com
On the basic economic mistakes liberals and conservatives make, and liberal and conservative economists.
economics  conservatives  liberals  fundamentals  cowen  leonhardt  sidebar 
june 2011 by HispanicPundit
The Job Market: Germany vs. the U.S. - NYTimes.com
Germany is handling the recession better than the USA.
germany  usa  jobs  wages  labor  leonhardt  sidebar  graphs 
june 2011 by HispanicPundit
Reader Response: Economic Diversity at Colleges - NYTimes.com
Finally, a few readers said I was suggesting that Harvard and other colleges lower the bar for low-income students. But I’m not. I’m instead saying that a poor student who has the same academic credentials — SAT scores and the like — as an upper-middle-class student is in fact more deserving of admission, strictly on the merits. Similarly, when a college admits an upper-middle-class student with a 680 average on standardized tests ahead of a poor student with a 670 average — which is what happens, on average — the college is admitting the less-deserving student.
pellgrants  university  diversity  leonhardt  economix  sidebar 
may 2011 by HispanicPundit
How Elite Colleges Still Aren't Diverse - NYTimes.com
I don’t. Nor does William Bowen, the economist and former Princeton president. He was a co-author of a study several years ago that found that elite colleges gave zero credit in the applications process to students from low-income families. All else equal, a poor student who scored, say, 650 on a standardized test had no better chance of being admitted than an affluent student who also scored 650 — despite all the obvious advantages that the affluent student had.
pellgrants  university  diversity  leonhardt  sidebar  economix 
may 2011 by HispanicPundit
Behind the Rise in Pell Grants - NYTimes.com
In the last few years, the government has significantly expanded the Pell program, which is the largest federal aid program. Four years ago, 5.2 million students received Pell Grants. Last year (the 2009-10 academic year), 8.1 million students did, according to the Education Department. That’s an increase of 56 percent.
pellgrants  university  costs  economix  leonhardt  sidebar 
may 2011 by HispanicPundit
Men, Unemployment and Disability - NYTimes.com
Perhaps the worst thing about the disability program is that, once in it, many people never leave. They were eligible for disability because of a legitimate injury. But once they stop working, many become less appealing job candidates and less motivated to find work. Their chances of finding well-paying work shrivel. Relative to a low-paying job, especially if the job exacerbates a chronic injury or chronic pain, the modest monthly disability payment of about $1,100 on average can look appealing.
disability  wages  leonhardt  sidebar 
april 2011 by HispanicPundit
Greenspan and Unemployment - NYTimes.com
In the process, Mr. Greenspan helped demonstrate that unemployment could fall lower than many economists had believed without setting off inflation. The late 1990s remain the only sustained period over the past 35 years when incomes rose at a healthy rate all across the income spectrum. The jobless rate, at its nadir, was below 4 percent.
greenspan  labor  monetary  inflation  Clinton  leonhardt  economix  sidebar 
march 2011 by HispanicPundit
Pensions: The Rule and the Exceptions - NYTimes.com
At the same, it’s worth remembering that Mr. Malkenhorst is far from typical and that you can also easily name examples of public-sector employees who are clearly underpaid, related to their private-sector counterparts. Just think about prosecutors and public defenders, many of whom could immediately raise their pay by switching to a law firm.
pensions  wages  unions  leonhardt  sidebar 
march 2011 by HispanicPundit
How Big Is the Pension Funding Gap? - NYTimes.com
If state and local governments instead assumed a future return of 7 percent, their funding gap would nearly double, to $1.3 trillion, according to Alicia Munnell and her colleagues at the Boston College retirement center. If they assumed a 6 percent return, the funding gap grows to $1.8 trillion.

Even if you believe — as I do — that government workers are not grossly overpaid, you can see that states and local governments have not set aside nearly enough money for their employees’ retirement.
pensions  wages  unions  walker  leonhardt  economix  sidebar 
march 2011 by HispanicPundit
Revisiting the Value of Elite Colleges - NYTimes.com
A decade ago, two economists — Stacy Dale and Alan Krueger — published a research paper arguing that elite colleges did not seem to give most graduates an earnings boost. As you might expect, the paper received a ton of attention. Ms. Dale and Mr. Krueger have just finished a new version of the study — with vastly more and better data, covering people into their 40s and 50s, as well as looking at a set of more recent college graduates — and the new version comes to the same conclusion.
academia  wages  university  krueger  leonhardt  economix  marriage 
february 2011 by HispanicPundit
The Dollar and Global Standing - NYTimes.com
There isn’t much point in complaining about the devaluation of the dollar right now, given the trade deficit the United States is running. But there really isn’t much point in complaining about devaluation and not also complaining about our big long-term economic problems: slowing educational gains, the uniquely high cost of health care and the country’s inability to align taxes with government benefits. Those problems, not the dollar’s value, threaten the United States’ global standing.
dollar  leonhardt  economix  sidebar 
february 2011 by HispanicPundit
Will National Health Care Improve Our Economic Health? - Megan McArdle - Business - The Atlantic
But when we try to look at the net effect, it's hard to see much dynamism coming out of the places with a generous safety net. Rates of entrepreneurship and labor mobility are far lower in Europe than they are in America--and one of the many factors restraining European labor mobility is thought to be the social safety net, both because of the difficulty of moving between benefit system, and because the benefits lessen the urgency of say, relocating in order to find a job.
ObamaCare  social-security  entrepreneurs  leonhardt  mcardle  sidebar 
january 2011 by HispanicPundit
The Different Costs of Motherhood - NYTimes.com
Higher earning women take a bigger hit than lower learning women in having children.
parenting  genderissues  leonhardt  economix  sidebar 
december 2010 by HispanicPundit
Growth: The U.S. vs. Europe - NYTimes.com
"Economic growth in the United States has been quite disappointing over the last decade, as we’ve discussed before. Yet growth here has still been noticeably better than growth in Europe. "
economic-growth  europe  britain  france  germany  leonhardt  economix  sidebar 
november 2010 by HispanicPundit
Ezra Klein - Life matters!
"That said, something's getting lost in here. A policy that (1) increases lifespan, (2) increases healthy lifespan, and (3) adds revenue might well be worth doing even if it (4) increases total health costs. Economists, after all, do believe that people value extra years of life. You see this a lot in discussions about health-care spending, where we tend to focus on the number of dollars rather than the value derived from each dollar. The elite health-care reform conversation, for instance, seemed uninterested in the fact that we were covering 32 million people, but obsessed with ensuring that it didn't add even one dollar to the deficit. "
obesity  sin-taxes  mankiw  leonhardt  klein  sidebar 
august 2010 by HispanicPundit
Does Education Stop at Kindergarten? - Economix Blog - NYTimes.com
"Here is a chart showing weekly, inflation-adjusted pay of full-time workers from 1979 through 2009, by educational attainment"
education  university  teachers  wages  leonhardt  economix  sidebar 
august 2010 by HispanicPundit
Greg Mankiw's Blog: A Bit More on the Soda Tax
When everything is taken into account, obesity may be a net positive to society.
obesity  sin-taxes  leonhardt  mankiw  EconomicView  sidebar 
august 2010 by HispanicPundit
Armageddon Wars: Overpopulation Vs. Global Warming - Economix Blog - NYTimes.com
"But I think there are two big reasons to doubt that we’re on another Ehrlich-Simon path when it comes to global warming."
globalwarming  simon  douthat  leonhardt  sidebar 
july 2010 by HispanicPundit
The Death Of Market Environmentalism | The New Republic
"The market is a much more efficient tool to reduce carbon emissions than command-and-control regulations. The downside is that it's more transparent about the costs it imposes. Regulation attacks the problem less efficiently, but the costs are entirely hidden. So that's the direction policy is going, points out David Leonhardt, even among supposedly market-loving Republicans"
environmentalism  republicans  regulations  carbon-tax  leonhardt  chait  sidebar 
june 2010 by HispanicPundit
Greg Mankiw's Blog: A Guest Post from John Galt
"What if the increase in their pretax income is in part attributable to the tax cuts? David seems to be treating pretax income as exogenous to tax policy, whereas there is good reason, both theoretical and empirical, to think that it responds to policy."
tax-cuts  Laffer  inequality  leonhardt  mankiw  sidebar 
may 2010 by HispanicPundit
Is College Overrated? (Cont.) - Economix Blog - NYTimes.com
"I’m reminded of what happened in this country in the first half of the 20th century, when a high school education changed from being elite to being commonplace. At the time, some European intellectuals dismissed the new American high schools as wasteful, Ms. Goldin and Mr. Katz note. Instead of offering narrowly tailored apprentice programs, the United States was accused of overeducating its masses. Not everyone, the Europeans said, needed a high school education.

The decades that followed proved the Europeans wrong, of course. With the most educated population in the world, the United States built the most successful economy in the world.

Eighty years ago, about 30 percent of American teenagers received a high school degree. What’s the reason to think that same fraction — 30 percent — is the natural ceiling for how many students should be getting college degrees now?"
university  signaling  leonhardt  debates  economix  sidebar 
may 2010 by HispanicPundit
The Value of College - Economix Blog - NYTimes.com
"As you can see, the real pay of college graduates has risen over the past 25 years. The real pay of every other group has dropped."
education  university  Vedder  leonhardt  economix  sidebar 
may 2010 by HispanicPundit
Ezra Klein - The case for a bank tax
"But taxes serve another purpose, as well: They discourage certain activities. You could force banks to pay a higher tax as they became more systemically risky. That would dissuade them from becoming too big. You could force banks to pay higher taxes when their leverage got too high. That would dissuade them from leveraging up. And you could put a tax on transactions, or on profits, such that there was less potential profit encouraging firms to take the massive, massive risks. "
financialRegulation  finance  taxes  leonhardt  klein  sidebar 
april 2010 by HispanicPundit
Housing markets: Forget prices | The Economist
"My point would not be that one should try and time the market. My point is that whatever the outlook for home prices many of these so-called affordable markets may have extremely uncertain employment outlooks. Prices may well be done declining in Las Vegas, but if the labour market there recovers very slowly relative to those elsewhere, the decision to lock oneself into a mortgage contract could look extremely foolish. A potential buyer isn't just guessing about the path of home prices, he or she is also guessing about the path of local employment. That's very risky."
real-estate  personal-finance  leonhardt  EconomicView  economist  sidebar 
april 2010 by HispanicPundit
But Aren’t Home Prices Still Falling? - Economix Blog - NYTimes.com
"If you do some research in your own market and discover that you can save a significant amount of money every month by owning — and some markets appear to be at that point — you may end up better off buying a house even if prices are not finished falling."
real-estate  personal-finance  leonhardt  EconomicView  sidebar 
april 2010 by HispanicPundit
Revisiting rent vs buy | Analysis & Opinion |
"But in reality the opportunity costs are much greater than just the return that you would get on that money if you invested it. Renting gives you much more agility and mobility than if you tie yourself down by buying a place which might be quite hard to sell in a pinch. And having $76,800 in cash can come in extremely handy in many circumstances. For one thing, if say you’re laid off, it can pay the rent for a months if not years; if you’ve already used that money for a down payment, then you can’t use it again to pay the mortgage on your house."
real-estate  personal-finance  leonhardt  EconomicView  salmon  sidebar 
april 2010 by HispanicPundit
Ezra Klein - Why you shouldn't buy a house in Vegas
"The wisdom of home ownership has a lot to do with forces beyond your mortgage and paycheck. The local economy. Interest rates. The unemployment trend in your area over the next decade. Owning a home shouldn't be sold as the American dream. It should be sold as a business calculation, and one that requires some serious thinking about probabilities."
real-estate  personal-finance  leonhardt  EconomicView  economist  klein  sidebar 
april 2010 by HispanicPundit
Homeownership: Rent or buy? | The Economist
"Homeownership, let's recall, is in most cases a highly leveraged, undiversified, relatively illiquid bet, with a return that is highly correlated to local labour market conditions. In general, responsible financial planners would warn their clients away from such an investment. Sure, you get a roof over your head as part of the bargain, but the potential downside is enormous, as should be blindingly obvious to us all."
real-estate  personal-finance  leonhardt  EconomicView  economist  sidebar 
april 2010 by HispanicPundit
Is 15 a Better Rent-Ratio Cutoff? - Economix Blog - NYTimes.com
"If you play around with the wonderful rent-vs.-buy calculator built by Kevin Quealy and Archie Tse of our graphics department, I think you will end up deciding that a ratio in the mid-teens leaves many people in a gray area."
real-estate  personal-finance  leonhardt  EconomicView  sidebar 
april 2010 by HispanicPundit
The essence of the health care legislation
"The first is a conjecture of mine that the rise in inequality is mainly a statistical mirage created by focusing on household income. When the divorce rate rises as it did in the 1970s, any measure of income inequality by households gets distorted. That is why you can observe in the data that changes in inequality or the median household inome are very poor predictors of what has happened to the person who was at the median at the beginning of the sample. The few data sets we have that follow the same people over time show that their incomes are doing very well even though it appears in other data that the “rich” get all the gains and everyone else’s income is stagnant."
inequality  ObamaCare  leonhardt  roberts  sidebar 
march 2010 by HispanicPundit
The Value of College - Economix Blog - NYTimes.com
"It tracked top high-school students through their 30s and found that their alma maters had little impact on their earnings. Students who got into both, say, the University of Pennsylvania and Penn State made roughly the same amount of money, regardless of which they chose. "
education  university  signaling  leonhardt  economix  krueger  sidebar 
september 2009 by HispanicPundit
Blame the universities? | Free exchange | Economist.com
"More selective schools clearly enjoy better graduation rates. Mr Leonhardt notes that more selective schools have better rates after controlling for high school GPA and SAT score and suggests that sending more students to selective schools might increase their graduation rates. Frankly, I'm not sure I see why that would be the case. Presumably, more selective schools are also using other criteria to filter applicants, and it seems likely that the phenomenon of "under-matching"—not attending the best school one can—is correlated with other conditions that make graduation less likely. In other words, Mr Leonhardt and his sources seem to be missing a lot of what's driving low graduation rates."
university  leonhardt  EconomicView  economist  sidebar 
september 2009 by HispanicPundit
Matthew Yglesias » Change, But Not Too Much of It
The argument in favor of taxing employer-provided healthcare benefits.
healthcare  taxes  campaign2008  leonhardt  yglesias  sidebar 
july 2009 by HispanicPundit
Ezra Klein - Your Health Care System in Graphics
"there are some conditions where the American health care system does a very good job. Some conditions where it does a mediocre job. And some conditions where it does a bad job. The average person suffering from average diseases would not have a strong reason to prefer being insured in America, France or Japan."
healthcare  costs  pharmaceuticals  japan  britain  france  europe  leonhardt  klein  sidebar 
july 2009 by HispanicPundit
Ezra Klein - A Rational Look At Rationing
"In Britain and Canada, in other words, they ration actively: The government tells you that the resources are scarce and you'll have to wait. In America, we ration passively: You can't afford the cost of care, and so you go without. But would anyone really prefer never getting care they needed to waiting four months to receive it? But rationing by income means that we don't actually have to decide that people will have to wait, or won't be able to access, care. It just sort of...happens."
healthcare  single-pay  britain  canada  usa  europe  leonhardt  klein  sidebar 
july 2009 by HispanicPundit
The Deficit Blame Game - Megan McArdle
"How is a $118 billion structural deficit, $35 billion in Medicare Part D, and a theoretical end to the Iraq presence forcing Barack Obama to spend nearly $1 trillion in 2018? How is it forcing him to spend roughly $650 trillion more than he takes in in 2012? "
deficits  budget  obamaadministration  ObamaFailures  leonhardt  mcardle  sidebar 
june 2009 by HispanicPundit
Ezra Klein - Your Deficit in Charts
"Some might be surprised that Obama's prospective agenda doesn't account for more on that graph. After all, health-care reform alone is expected to cost more than a hundred billion dollars a year. The only policies that increase the deficit, however, are those paid for by borrowed dollars. And the Obama administration is insisting on funding its policy proposals with existing dollars. "
deficits  budget  leonhardt  obamaadministration  healthcare  costs  klein  sidebar 
june 2009 by HispanicPundit
Greg Mankiw's Blog: The Problem with Warrants
"There is, however, a significant problem with the warrant idea: It makes designing the auction to get the price right much harder."
FinancialBailout  leonhardt  mankiw  sidebar 
september 2008 by HispanicPundit

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