The continuing outrage

The impact of the Affordable Care Act -- Obamacare -- on the true marginal tax on labor. It is a lot uglier than advertised:

The results are startling. The ACA includes both positive and negative tax rate effects, but nonetheless all provisions combined raise marginal tax rates in 2015 by 10 percentage points of total compensation, on average, for about half of the nonelderly adult population and zero percentage points for the rest. From an aggregate point of view, the employer penalties by themselves are historically significant but nonetheless smaller than each of two of the ACA’s implicit tax provisions. The ACA will increase the national average marginal labor income tax rate about twelve times more (sic) than the 2006 “Romneycare” health reform law increased the Massachusetts average rate.

Read the whole thing.

Meanwhile, technical delays plague the implementation of Obamacare.

The Coase theorem in one's daily life.

If you are going to choose to tattoo -- not my cup of tea, but neither is Budweiser -- beware of the copyright implications.

The "seven risks" to the financial markets in September, historically the worst month for stocks.

How changes in the structure of families are changing the economy.

The United States is getting relatively more competitive compared to other countries, but would be even more so with changes in Washington.

More later.