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When Parag Waknis lived in the United States, he would give friends and colleagues the same gift every year: a voucher. Often derided for their lack of originality and thoughtfulness, these much-maligned rectangles of plastic are some economists’ perfect gift: something that technically fulfills the criteria of a present while also giving the recipient the freedom to choose their own gift. “I was completely convinced that cash was the way to go,” Waknis says.
After moving to India in 2018 to become an associate professor of economics at Ambedkar University Delhi, Waknis found himself under pressure to give gifts that show how well he knows the recipient. His carefree days of doling out gift cards no matter the occasion are increasingly a thing of the past. Yet Waknis can’t shake the thought that there is a glaring economic flaw with gift giving. Sometimes, recipients just don’t like what they get.
at the individual level. i don t think anybody supporting preschool are earlier education for young children think it has to be strictly a government program. the fact is the scale of the program suggests government activity is an important component. government in the sense of financing. tax based support, but when you come back to the 7 to 1 you mentioned. that 7 to 1 figure includes the very kind of cost that the congressman earlier in the segment talk about. it includes the deadweight loss of taxes. we include the fact with you tax, you distort the economy, and the 7 to 1 survives even that test. it s a strong test. i feel th you look at these returns, that they stand up close scrutiny. not a peer review article where the friends not an advocacy blog, a post, this was an article in the economics journal.
spiderweb not the tax code. we have done okay with the tax code. the tax code is a mess because of the 70,000 pages that dictate virtually every aspect of our lives and cost americans 6 billion hours of our time just to comply. six out of 10 of us pay someone else because not only so complicated we are afraid to make a mistake to get audited. it has created fear as well as complexity. john: so those six out of 10 could have used that money and time to boost the economy to do something useful? it is called deadweight loss. it cost $200 billion per year just to comply with the 70,000 pages of tax regulations that is why the economy grows so slowly. john: they are popular. steering people to good things, solar panels on the roof of your house to get a
spiderweb not the tax code. we have done okay with the tax code. the tax code is a mess because of the 70,000 pages that dictate virtually every aspect of our lives and cost americans 6 billion hours of our time just to comply. six out of 10 of us pay someone else because not only so complicated we are afraid to make a mistake to get audited. it has created fear as well as complexity. john: so those six out of 10 could have used that money and time to boost the economy to do something useful? i is called deadweight loss. it cost $200 billion per year just to comply with the 70,000 pages of tax regulations that is why the economy grows so slowly. john: they are popular. steering people to good things, solar panels on the roof of your house to get a
flint some of the greatest progressions in history come from occupying a place where they tell you you have no right to be in and simply stating we shall not be moved. we have victoria day frances cosoto and returns to the program. victoria, good to see you again. i want to get started with you for the following reasons. after you were governor of louisiana, a congressman, then, you started a community bank. you are now a banker or have been a banker. i want to get from your perspective what i ve just talked about in terms of foreclosure prices and seeing alfredo talk about what is manifestly a deadweight loss, as economists would cause, a housesitting empty unoo underutilized. seven homes sitting empty on a block are a symbol of that. there is a part of you as a