The Elusive Libertarian Economist Chick

I'm a lazy procrastinating economist, but have recently made efforts to start linking the various kind hosts who have been kind enough to promote the epic economic adventures of Captain Capitalism.

Ms. Passey is one of them.

Well, it's actually Ms. Mackie Paisley Passey, but that is too long, so I just call her JMPP.

Interestingly enough, she is not only an economist (economist dames are rare enough), but a libertarian as well. This is almost, ALMOST as unique as the dancing, video-game, fossil-hunting economist.

Recently her and her cadre of bloggers seem to be on a movie kick, citing Firefly (a good short-lived TV series), but every once in a while they manage to fit in some economics.

Pay young JMPP a visit sometime.

http://jacquelinepassey.blogs.com/

Ahhh, Real Women

I think these four women did more in their lives to advance not only the cause for women, but advance, improve and defend all that is good and noble in the world than all of the feminists and all of the women’s studies majors have done and ever will do in their pathetic and self-serving lives.

Girls today could learn a lesson or 12 from these dames.

Another Link for the Masses to Digest

Kyle Eubanks. He just started up, but it is scary how much we think alike, and thus he is obviously a genius and worth linking to. His URL could use some simplification though.

http://blog.360.yahoo.com/blog-RxwD5hglcKPLUB9DWJKQsg--

Ode to Tax Season

Figured I'd have to repost this on Tax Day! Rememeber to forward it to all your friends and have everybody click on links so that I may retire early and never work again.

Some get a refund
Some get to pay in
When the governments take a third

Only liberals find it no sin
As a capitalist
How can I win?

When it is tax season?

If you are leftist
And you hate the rich,
I suggest you keep quiet,
I suggest you not bitch
For the bulk of the work
And taxes they have pitched

For the rich pay the most when it’s tax season.


Where does it go?

Where has it gone?

With corporate taxes so high

You wonder why US companies have said “so long”
You ignorant leftists
Quit it with your wealth redistribution song

For corporations and employers will move to avoid tax season.

Mortgage the future.

Pass on the buck.

Are you in Gen X?
Well I guess that’s tough luck.
For you yongsters will find out shortly that indeed;

When you pay for other people’s Medicare, Medicare, Welfare, Social Security, education and $2 trillion worth of other social spending when it’s tax season!

Wishing you and yours a Very Captain Capitalism Tax Season!

What I Get for Reading The Economist

Understand that one of my favorite things to do is to go to a couple joints here in Minneapolis, find a quite corner, order a glass of wine and read The Economist.

Also, I do a significant amount of latin dancing, and so every time I go out dancing I bring an issue of The Economist with me as there are literally 3 guys for every girl, and thus, instead of being one of the pathetic saps that rushes out to the dance floor, scurrying for a girl, I maintain my cool, by retiring to a quiet table and read The Economist until the next song comes along.

Of course, chicks take notice of this, and while fending off the desperate, broken-English advances of Jose and Juan they see me and say, "My goodness. Who is that secure and sexy man just sitting at the table. And what is that he's reading? OH MY GOD! IT'S THE ECONOMIST! I MUST HAVE HIM!"

And this happens all the time, because, as you know, economists are sexy.

Thus, it was only inevitable my friends would mock and ridicule me for my readership of The Economist, resulting in a friend sending me this comic.

Enjoy.

The Tax Wedge Blues

I like charts.

I mean, I really like charts.

One could go so far as to consider me a connoisseur of charts.

And while, no doubt my charts are the best charts that ever were charted, I have to admit that The Economist comes out with some really kick ass charts that I occasionally liberate from them.

One such chart is the one below; the Worker's Tax Wedge.

What the tax wedge shows us is the percentage of labor costs that are due to taxes. Specifically income taxes plus the social security contributions of BOTH the employer and the employee. In other words, the difference between what the employee takes home and what it costs to employ him.

A rough translation of the figures above would mean Sven in Sweden makes $10 an hour, but only takes $6 home. And Seamus in Ireland who is paid the same $10 an hour wage takes $9.50 home.

Of course this is a rough translation, as it ignores the fact that the employer also has to pay taxes on employing labor, namely in the form of social security contributions (and in other countries, payments into health care programs, etc.) Thus, the higher the tax, the less incentive a company or employer has to set up shop there. Or perhaps looking at it the other way, the more the governments of Sweden, France and Germany demand their employers (and employees) pay in taxes, the more they incentive corporate investment and talented labor to move offshore and flee to the likes of Ireland or the United States.

This, in theory, should result in lower economic growth rates for those countries that tax their labor higher. Of course those on the left will never admit such things occur and dismiss such theories as right wing tripe, highlighting Sweden and Norway as examples of socialist success.

But, you guys know me. I'm not much of one for theories. I'm more concerned about data and statistics. Which is why I took the countries in the above chart with the 5 highest tax wedges and compared them to the 5 countries with the lowest tax wedges in regards to economic growth. Specifically their 15 year average GDP growth rates.

Now I know that to be thorough about it, I should really do an average tax wedge over 15 years, run some correlations, etc. etc., but you know something? I'm just too damn lazy. And until somebody from the left cares to do a more thorough job in crunching these numbers to debunk me, I think my case stands.

3 for the Price of 1

Ahh yes, Iowa.

Meat for the Lions

Dear readers, I apologize for the lack of posts, but unfortunately the past several months, particularly the last three weeks have been, quite frankly, the worst days of my life. Not to be sarcastic, nor to collect pity, but just to inform you as to the reason why for the lull in posts.

Anyway, a very brief post as I am working on a much larger post to honor those that have been with me during these darker days.

It's not economics related, but interesting none-the-less. And not to be a Drudge-esque type site, but it's just a link.

http://www.livescience.com/technology/050407_earth_drill.html

Perhaps it is OK to take a break from economics every once in a while.