On Twitter the other day I had a short exchange with Noah at Money Metagame about a question that I find fascinating: what do you do with your next dollar in income? Budgets are fine but don't aid ongoing decision-making For a little bit of context, here are my recurring monthly expenses: Rent Phone Internet Blog subscription service Google … [Read more...] about Where does your marginal dollar go?
I've written before (and expect to write more) about the Social Security Administration, which is both the primary source of disability insurance for low-income workers and one of the lowest-cost guaranteed retirement savings vehicles available to all workers in the United States. I want to address a few curious issues that arise with late-career Social Security … [Read more...] about The effects of late-career Social Security contributions
There is a periodically-fashionable argument in the United States that a key obstacle to economic growth is the "double-taxation" of corporate earnings: once at the corporate level, and a second time when profits are distributed to shareholders and (eventually) reported on their individual income tax returns. This argument is typically made by people who, for ideological or … [Read more...] about Why do we tax corporate profits?
There is a tendency in financial journalism to refer to a company's market capitalization as what the company is "worth," or its "value." This tendency is most pronounced when people describe a private company raising capital, for example describing Uber as "worth" $62.5 billion. These valuations are arrived at by comparing the price paid to the share of the … [Read more...] about Market capitalization doesn’t matter because share prices don’t matter
Last week I wrote about the simple path anyone can follow in order to go to college for free (and explained why I think almost no one takes it). Some commenters objected to the fact that in passing I mentioned the benefits of the income-based repayment option for loans made directly by the federal government, claiming that an education paid for with such loans … [Read more...] about The boring reason you might take out student loans while getting a free education