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Megan McArdle

Megan McArdle - Megan McArdle is a senior editor for The Atlantic who writes about business and economics. She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and The Economist. More

Megan was born and raised on the Upper West Side of Manhattan, and yes, she does enjoy her lattes, as well as the occasional extra-dry skim-milk cappuccino. Her checkered work history includes three start-ups, four years as a technology project manager for a boutique consulting firm, a summer as an associate at an investment bank, and a year spent as sort of an executive copy girl for one of the disaster-recovery firms at Ground Zero … all before the age of 30.

While working at Ground Zero, Megan started Live From the WTC, a blog focused on economics, business, and cooking. She may or may not have been the first major economics blogger, depending on whether we are allowed to throw outlying variables such as Brad Delong out of the set. From there it was but a few steps down the slippery slope to freelance journalism. She has worked in various capacities for The Economist, where she wrote about economics and oversaw the founding of Free Exchange, the magazine's economics blog. She has also maintained her own blog, Asymmetrical Information, which moved to The Atlantic, along with its owner, in August 2007.

Megan holds a bachelor's degree in English literature from the University of Pennsylvania and an M.B.A. from the University of Chicago. After a lifetime as a New Yorker, she now resides in northwest Washington, D.C., where she is still trying to figure out what one does with an apartment larger than 400 square feet.

Hand the Taxpayer a Receipt

By Megan McArdle
Oct 1 2010, 11:36 AM ET Comment

The left half of the blogosphere is getting pretty excited by this idea of the Third Way's to provide an itemized receipt for what your tax dollars are spent on:

Taxpayer-receipt.jpg
There seems to be an unspoken assumption that opposition to spending rests on misperception of what the money is spent on; Americans tell pollsters they want to cut spending, but it turns out that what they really want cut is the imaginary fortune they think we spend on foreign aid.

But of course, it seems to me that this could just as easily go the other way:  isn't it possible that the widespread support for programs like Social Security and Medicare rests on the fact that most people don't realize just how big a portion of your paycheck those programs consume?  I don't know the answer to that, but I will point out that most economists believe that paycheck withholdings enable (among other things) higher taxes; if people had to write out a check for their tax bill every year, resistance to income tax increases would be much fiercer.  

This suggests that handing people an itemized invoice for their government programs which shows them the total yearly take might increase support for the Smithsonian, and decrease it for the stuff that appears higher up on the bill.

Whichever way it cuts, I think this is a good idea; more information is generally better.  I just think that the emotions this sort of receipt provokes in liberal bloggers may not be the same ones it provokes in the average voter.


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