Saturday, January 19, 2013

Idiots

According to a new paper written by six economists at the Institute for the Study of Labor in Bonn: People who pay higher taxes than other people tend to be more satisfied with their lives. The researchers analyzed 26 years of German panel data that asked about 25,000 people the question, “How satisfied are you with your life?”.

Aside from the myriad methodological flaws inherent in using subjective data, did these esteemed "economists" consider that people who pay higher taxes must have done so because they had greater wealth and prosperity in the first place? And that jobs which pay more are also usually more challenging and interesting, compared to those that pay less?

Whether the study is as shoddy as it appears or if there is indeed some validity to the findings, either case may be explained by a simple fact: Excessive German Beer Consumption :)