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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.

A Democratic Cry for Help

By Megan McArdle
Apr 27 2010, 8:46 AM ET Comment

I have periodically advocated a "Megan Tax" for certain consumer goods which are, I believe, God's way of telling you that you have too much money for your own good.  It is my belief that if you buy a $20,000 Hermes handbag (after putting yourself on a waiting list for some), or a Harrier, this is a sort of cry for help.  Your money is overcrowding your life so much that you have become unable to deploy it wisely.

In the event of such a tragedy, I have suggested, the government should swoop in, take half your money, and donate it to the Children's Scholarship Fund. You will breathe freer, and some poor kids will get a shot at a decent education. Gains from trade!

The wait lists for Hermes handbags have evaporated, so perhaps the Megan Tax is no longer a pressing social need--for individuals. But now I suspect that the Democratic Party may need our help. They're running ads against...Mitt Romney. Yes, that Mitt Romney, the one who isn't, y'know, running for office this year. Donors, take note: they don't need any more money. The next stop is overfunding the throw-pillow budget at national headquarters.

Update:  sources at the DNC argue that since this isn't a television ad, and it was done in-house, this doesn't really count as "running ads" or "spending money".  Of course, there are in-house staffers who are not being paid less than minimum wage (I devoutly hope) and are probably being paid a really nice hourly wage to find the clips, edit them together, get the thing approved by the higher-ups who one hopes have to sign off on this thing, and upload it to the web.  Those are real costs.  I certainly hope that the DNC understands that indirect spending is still a drain on resources that could have been deployed elsewhere.

Mitt Romney is not running for office.  If the DNC has people it can afford to deploy on making attack ads against a non-candidate . . . well, if I were a donor, I'd conclude that it has too many people.  Your mileage may vary.


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