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"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
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About Me
- Randall Parker
- I am a Professor of Economics at East Carolina University in Greenville, NC. My research focuses on macroeconomics and economic history in general and the economics of the Great Depression in particular. I have authored two books, Reflections on the Great Depression and The Economics of the Great Depression: A Twenty-First Century Look Back at the Economics of the Interwar Era and edited The Seminal Works of the Great Depression. I am currently working on my fourth book Interwar Historical Antecedents of Modern Inflation Targeting and I am the co-editor (with Robert Whaples) of The Handbook of Major Events in Economic History and The Handbook of Modern Economic History. I have also traveled the country giving speeches on the state of the macroeconomy and other economic issues to many trade and business associations. When I am not thinking about the economy I am either chasing ducks, handicapping horses or arranging a fine dining experience. Lastly, the opinions expressed on this blog are mine alone and do not reflect upon East Carolina University in any way or manner, in whole or in part, now and forever more under the canopy of heaven.
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1 comment:
Under the Senate plan a small business is defined as less than 25 employees. Can anyone guess the maximum number of employees firms will hire in order to avoid the surtax?
The house plan defines a small business as having a total payroll of less than $250,000. This amounts to a law firm with two moderately successful attorneys and a handful of support staff. This hypothetical law firm will surely break into two pieces. Each attorney will keep two employees and the fifth will be heading to the unemployment office. Nobody will get health insurance, the government does not collect the surtax and government revenue decreases. What a great plan!
This idea reminds me of the luxury tax and yacht sales of the past.
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