A lot of pundits lament the fact that Democrats and Republicans can't come together to make the painful choices that would reduce the country's debt:GDP ratio. I find it much more frustrating that we can't come together and make the painless choices that would do the same thing. Monetary stimulus is one such example.
Immigration is another. Because we so throttle the supply of visas for engineers, it's possible to find great natural experiments where the question of who was let in and who wasn't was a matter of pure chance. Michael Clemens looked at one such case and was able to do a detailed study and found that statistically identical workers employed by the same firm can increase their earnings by over $55,000 a year by securing permission to come to the United States. So what if instead of allocating these visas by lottery, we let as many people come as there are corporate sponsors for and charged $5,000 per person per year? On the one hand, we'd raise a little chunk of revenue without needing to raise taxes on any American. On the other hand, the huge productivity gains here—the Indians' labor is worth five to six times as much in the USA as in India—would boost growth.
TODAY IN SLATE
The Most Terrifying Thing About Ebola
The disease threatens humanity by preying on humanity.
I Bought the Huge iPhone. I’m Already Thinking of Returning It.
Scotland Is Just the Beginning. Expect More Political Earthquakes in Europe.
Students Aren’t Going to College Football Games as Much Anymore
And schools are getting worried.
Global Marches Demand Action on Climate Change
- Protesters Take to the Streets to Sound Alarm on Climate Change in New York, Across the World
- Knife-Carrying White House Jumper is Vet who Feared “Atmosphere Was Collapsing”
- North Korea: American Sentenced to Hard Labor Wanted to Become “Second Snowden”
- Almost One in Four Americans Support Idea of Splitting From the Union
Blacks Don’t Have a Corporal Punishment Problem
Americans do. But when blacks exhibit the same behaviors as others, it becomes part of a greater black pathology.