A Quote by Paul Romer
For a nation, the choices that determine whether income doubles in one generation or two dwarf all other economic policy concerns.
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The major economic policy challenges facing the nation today - pick your favorites among the usual suspects of low public and household savings, concerns about educational quality and achievement, high and rising income inequality, the large imbalances between our social insurance commitments and resources - are not about monetary policy.
Potential home buyers have a two-step decision process. First, they determine whether they can afford to make a purchase - does their income safely cover their mortgage payment? Then they determine whether owning is a better financial choice than renting - are the costs of owning a home lower than the cost of renting it?
We need a much better understanding of the climate before making policy choices that would impose substantial economic costs on our Nation.
In America, quite often, for people from a certain economic position two choices become very evident as to their adult life. One is crime, one is the military. And it is quite often that some people choose one or the other, their options not being as many as someone from a higher income.
For an investment banker, the choice between a payment that doubles with every square on the chessboard and one that doubles with every other square is more important than any other part of the contract. Who cares whether the payment is in pennies, pounds, or pesos?
Whether you're a populist; whether you're a limited government conservative; whether you're libertarian; whether you're an economic nationalist - we have wide and sometimes divergent opinions. The center core of what we believe, that America is a nation with an economy, not an economy just in some global marketplace with open borders, but we are a nation with a culture and a reason for being.
When two working people decide to marry, their federal income tax is usually increased. As soon as one spouse earns at least 20 percent of a married couple's total income, the couple pays a 'marriage tax.' ... The United States is the only major industrialized nation in the free world in which the tax cost of the second [married] earner's entry into the work force is higher than that of the first. On one hand, our government's social policy is to help working women earn equal salaries to those of men, but on the other we have a tax structure that penalizes them when they do so.
What kind of nation we will be, what kind of world we will live in, whether we shape the future in the image of our hopes, is ours to determine by our actions and our choices.
Let's take the nine states that have no income tax and compare them with the nine states with the highest income tax rates in the nation. If you look at the economic metrics over the last decade for both groups, the zero-income-tax-rate states outperform the highest-income-tax-rate states by a fairly sizable amount.
There are differences of opinion, especially when it comes to economic and financial policy. But when it comes to foreign and especially immigration policy, we are in agreement. No other countries in Europe are closer to each other in this regard than Italy and Germany.
We do not allow dwarf tossing. If you toss a dwarf, the dwarf will be tossed right back at you, but faster.
...Many of us are perpetual reactors. We let other people determine our actions and attitudes. We let other people determine whether we will be rude or gracious, depressed or elated, critical or loyal, passive or dedicated.
If two parties with two sets of bad ideas cooperate, the result is not good policy, but policy that is extremely bad. What we really need are correct economic and politcal ideas, regardless of the party that pushes them.
Just because Pluto orbits with many other dwarf planets doesn't change what it is, just as whether an object is a mountain or not doesn't depend on whether it's in a group or in isolation.
You can drive yourself crazy trying to peer into a person's soul--or you can do the sensible thing: ask not what inner motives drive a politician's policy choices but instead whether those choices are good for the country.
The job facing American voters… in the days and years to come is to determine which hearts, minds and souls command those qualities best suited to unify a country rather than further divide it, to heal the wounds of a nation as opposed to aggravate its injuries, and to secure for the next generation a legacy of choices based on informed awareness rather than one of reactions based on unknowing fear.
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