Employment increases after taxes are cut for most income earners — but not when tax cuts target the top 10% of earners — according to a recent paper in the Journal of Political Economy looking at data from the 1980s through the 2000s.
Last month, leadership at The Vindicator in Youngstown, Ohio told employees that the 150-year-old newspaper of record for this once-booming steel town would be shuttering. Family owned since the late-1800s, The Vindicator couldn’t find a buyer. A few weeks from now, there will be no daily newspaper to cover this city of 65,000.
There’s a phenomenon economists call “agglomeration economies,” where a collection of companies become more efficient by being close to one another. The idea holds for people, too. When people cluster in dense places like cities, they share insights and resources. Strong social connections make for good economics.
The U.S.-China trade war entered new territory when President Donald Trump last week ordered more tariffs on $300 billion worth of goods from China.
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