A finance and economics blog, modestly informed by academic research.
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Sunday, December 23, 2012
Eliminate the Entrepreneur's Tax
The Republicans often argue that capital gains and income taxes discourage the creation of more jobs, especially by small entrepreneurs. They are both right and wrong. The main tax distortion against starting businesses is not where they think it is.
Experts For Hire
It is embarrassing for me to listen to the pseudo-science that is produced in court hearings, regulatory hearings, and Congressional testimony. It is a serious problem. It corrupts our system of justice and our system of government.
Expert Testimony is a very lucrative business. It has made many billions of dollars for experts. I would not be surprised if some expert witness firm owners had personally earned more than $100 million. (It's not so bad for the lawyer's either.) It is unlikely that the system will be changed, because it would harm this industry.
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