Julia R. Cartwright (Norgaard)

On the eve of the #Midterms2026 the Trump Administration is making its economic pitch which, in large part, includes the OBBB tax cuts. Yes, the admin cut taxes but not all tax cuts are created equal.

Trump has championed “no tax on tips,” “no tax on overtime,” and new tax deductions for seniors as major economic victories. And while these policies certainly provide relief to some Americans, do they actually encourage economic growth?

Consider two restaurant employees earning the same income: a salaried manager and a bartender receiving tips. Under the new tax law, the bartender could pay substantially less in federal income taxes simply because of how they're compensated.

The new tax policy changes incentives of where people work. The OBBB tax cuts are not necessarily encouraging people to work, invest, and become more productive, they are mostly favoring certain occupations and constituencies.

The best tax reforms expand economic opportunity rather than picking winners and losers. Cutting taxes and creating economic growth are not the same thing

#TaxPolicy #EconomicGrowth #TaxReform #Economics #PublicChoice

Is college always worth it? It can be, depending on what you study.

This chart weighs what a degree can pay off against what it costs and the real chance that a student won’t finish.

But what exactly does a negative ROI mean? A degree has a negative return on investment when the extra earnings it brings over a lifetime don’t cover what it took to get it.

FREOPP estimates that about 28% of bachelor’s degrees have negative ROI, and the share is even higher for many certificates, associate degrees, and master’s programs.

The biggest factor is your field of study.

The gap can be huge even within one university. At Penn, a finance degree adds millions in lifetime earnings, while a film degree from the same school comes out negative.

Before you sign up for the debt, look at the numbers for your specific program.

#HigherEducation #StudentLoans #ROI #CareerAdvice #EducationPolicy @PrestonCooper93

One additional year of permitting is associated with 39% higher rents @washingtonpost

Every month a developer waits for approval means additional financing costs, legal fees, and uncertainty. Those costs ultimately get passed along to renters and homebuyers. Worse, lengthy permitting discourages new construction altogether, restricting housing supply precisely where demand is often highest.

And the problem is not getting better, between 2000 and 2023, average permitting times for multifamily housing more than doubled, from 0.6 to 1.5 years.

Allowing developers to build housing in a timely manner helps make housing more affordable :)

#HousingAffordability #HousingPolicy #HousingSupply #PermittingReform #HousingRegulation #RealEstateDevelopment #EconomicPolicy #YIMBY

I'm in Washington, D.C. this week giving a policy brief on the consequences of federal deficits and debt.

In the fiscal year that just ended, the federal government ran a deficit of nearly $2 trillion, which is about $5,800 for every American.

How do debt and deficits impact average Americans?
1. Interest costs are crowding out everything else. Washington paid more than $1.3 trillion in interest on the debt last year, roughly $4,000 per person, and that's money not going to roads, research, defense, or tax relief.
2. Borrowing costs ripple into daily life. Heavy government borrowing can push up interest rates, which shows up in mortgages, car loans, credit cards, and what small businesses pay to grow.
3. Less room to respond to the next crisis. With debt now above $40 trillion, we have less fiscal cushion for the next recession, pandemic, or emergency.
4. Today's deficits impact future choices between higher taxes, spending cuts, or more borrowing, and younger Americans carry most of that obligation.

Looking forward to good conversations this week about how we change course. How do you suggest we get our fiscal house in order?

#FiscalPolicy #NationalDebt #PublicPolicy #Economy

The @CatoInstitute's Freedom of the 50 States breaks down all types of freedoms. These are the states ranked by Personal Freedom.
#1 Arizona
#2 Montana
#3 Nevada
Personal freedom includes educational freedom, recreational freedom, medical freedom, firearm freedom, freedom of speech and association, and freedom from law enforcement overreach.

Where does your state fit in this ranking? Do you agree?

#PersonalFreedom #IndividualLiberty #EconomicFreedom #PublicPolicy #StatePolicy #FreedomIndex #Federalism #Liberty #PolicyResearch #StateRankings