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The Latest Opinions From Bloomberg View


December 24, 2014

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ECONOMICS

Noah Smith:"Like most Econ 101 insights, the fact that taxes discourage work comes from pure logic. Taxes raise the price that buyers have to pay and lower the price that sellers get for a product. No wonder taxes make buyers want to buy less and sellers want to sell less. But as with any economic effect, the important question is: 'How much?'"
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MARIJUANA LEGALIZATION

The Editors:"The U.S. Justice Department is attempting to solve a problem that almost no one knew about with a solution that almost no one asked for. The results -- so far, confusion and uncertainty -- have been entirely predictable. The department announced this month that it would permit marijuana legalization on 300 or so Indian reservations in 30 states. The decision has perplexed American Indian leaders, who say that the last thing many tribes want is more lax federal law enforcement."
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NEWS ROUNDUP

Jonathan Bernstein(
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Read the news roundup )

- Ezra Klein at Vox explains how Republican states are ripping themselves off, thanks to their aversion to Obamacare.
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- "Seriously just imagine if you took Glenn Beck's advice in 2011 or so and dumped your stocks in favor of gold," Dave Weigel of Bloomberg Politics tweets.
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- Matt O'Brien at Wonkblog looks back on the "worst op-ed in history."
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Zara Kessler on What's Popping

- "
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Starting at 10 a.m. PST in the U.S., you can rent or buy 'The Interview' on Google Play and YouTube Movies."
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Theaters where you can see "The Interview." James Franco and Seth Rogen celebrate.
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- Merry Christmas, folks: "
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America's Christmas Gift Lists, as Seen by Google." "Utah man hospitalized after eggnog-chugging competition."
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- Have yourself some General Tso's chicken: "Why American Jews
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Eat Chinese Food on Christmas." "Is Chinese Takeout Really More Popular on Christmas?"
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- And happy traveling: Scooby Doo razor blades and other crazy things people tried to sneak onto planes.
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U.K.

Mark Gilbert:Britons have been anxiously awaiting to find out if Queen Elizabeth II will use her annual Christmas Day speech to abdicate. "If she does, she shouldn't stop there; she should engineer a deal to disenfranchise Prince Charles and put her grandson William and his wife, Kate, on the throne. That's not as far-fetched as it sounds."
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POLITICS

Leonid Bershidsky:"The far-right resurgence is impossible to miss: 2014 will be remembered as the year extreme nationalists in Europe and Asia were able to make a credible bid for power for the first time since the end of World War II."
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