Some professional news.
Excited to start today as chief economist at @stripe. Looking forward to working with & learning from the brilliant people there to produce data-centered insights and research.
One reason why US universities, esp. public ones, are leaning more & more on foreign students is because state and, now, federal funding is being cut, and they can charge foreigners more. Foreign students are literally subsidizing American students.
The Biden-Harris Administration literally expanded the Child Tax Credit to $3,000 per kid ($3,600 per child under 6) in 2021 and made it fully refundable that year, cutting child poverty to its lowest rate ever. They've been pushing Congress for a permanent expansion ever since.
JD Vance: “Why do we have the Harris campaign coming out saying we should not have the child tax credit, which lowers tax rates for parents of young children? Democrats have become anti-family. It’s built into their policy. It’s time we called that out.”
Folks, a 10% broad tariff on everything plus 125% on China, is a **25pp increase in the effective tariff rate**, even accounting for USMCA exemptions.
That's almost exactly where 2025 tariff policy was this morning. It was just less concentrated on China & more weighted overseas
I see that people are telling me there is a Starbucks in Paris as evidence of American cultural power. My friends, that’s nonsense. First, Starbucks is if anything evocative of European coffeehouse culture. Second…