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Unintended Consequences of High Taxes on the Rich

Watch this video on YouTube Two types of tax increases are being promoted by several presidential candidates and members of Congress. The less common idea, which I wrote about recently, is a wealth tax on net worth. The more common proposal is a significant increase...

Capitalism and Its Critics

Watch this video on YouTube Is capitalism broken? Increasing numbers of Americans, particularly younger adults, seem to think so. This idea is part of the motivation for those who, as discussed in last week’s column, are turning toward socialism. An Axios poll...

Do New Socialists Really Want Socialism?

Watch this video on YouTube Increasingly in the US, it’s becoming more socially acceptable—perhaps even fashionable—to be anti-wealth and anti-capitalism. Even identifying as a socialist is no longer the dominion of the far left but is gaining popularity. A number of...

Principle of Bureaucratization

Watch this video on YouTube A client recently told me about her first medical checkup after becoming eligible for Medicare. “The doctor said things like, ‘They require us to fill out this form,’ and ‘This test is covered every three years, so...

Shoplifting an Invisible, Costly Money Problem

Watch this video on YouTube In all my experience with problematic money behaviors, there’s one I’ve never addressed—shoplifting. It’s not discussed in the books I’ve co-authored. While I estimate that I’ve worked with or spoken to around 1000 people...

Three Things to Know About Life Insurance

Watch this video on YouTube Here are three points about life insurance that many life insurance salespeople would prefer you not to know: 1. Not everyone needs it. 2. Those who most need it are often least able to afford it. 3. It is not a good investment. Let’s take...