Think Economically


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Video – Introduction to Statistics part 2 – Data

Today we talk about data–what we mean, where we find it, why you might want to get your hands on some, as well as data scales and cross-sectional v. time-series v. longitudinal. Enjoy!

Today’s video – Intro to Statistics part 2 – Data.

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Video – Introduction to Statistics part 1

So I’m set up for recording video again. I’ve got a new prep this semester: Business Statistics. The videos should combine with the ones I’ve already posted to create a full 2-course sequence in statistics for business applications. My goal is to post one every Tuesday and Thursday. I hope you enjoy! As always, feedback, positive and negative, is welcome.

Today’s video – Intro to Statistics part 1.


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Brief: rich people make more of the money, labor pays more of the taxes

So, via my friend (and rich person supporter extraordinaire) Bob Buschman, Ari Fleischer bloviates nonsensically about the rich being unfairly taxed. Buried in there is the following:

The top 20% in 1979 made 44.9% of the nation’s income and paid 55.3% of all federal taxes. Thirty years later, the top 20% made 50.8% of the nation’s income and their share of federal taxes paid had jumped to 67.9%.

And the top 1%? In 1979, this group earned 8.9% of the nation’s income and paid 14.2% of all federal taxes. In 2009, they earned 13.4% of the nation’s income but their share of the federal tax burden rose to 22.3%.

So the top 20% went from making 44.9% of income to making 50.8% of income, and the top 1%? From 8.9% of income to 13.4% of income. Fleischer’s upset that their share of the tax burden rose faster, but guess what–if they (and by they, I mean we, of course) made 100% of income, they’d pay 100% of the taxes.

Arm und Reich (flämisch 17 Jh)
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