J. Cole — Brackets

J Cole discusses the impact of tax brackets on his earnings. As J Cole continues to increase his earnings, he moves into new tax brackets, which requires an increasing amount of tax liability to the government. This song could be used as a good pre-class video before discussing tax policy. The Tax Policy Foundation provides the country’s tax brackets since the inception income taxes as part of the 16th Amendment.

J Cole notes in the song that the money is supposed to support schools and roads, but he doesn’t believe the money is being used efficiently by politicians. He argues that because he pays so much, he should be able to have some say in how the money is used, but that’s part of the explanation for pork spending already in that companies rent seek and convince politicians to vote in favor of their interests:

I pay taxes, so much taxes, shit don’t make sense
Where do my dollars go? You see lately, I ain’t been convinced
I guess they say my dollars supposed to build roads and schools
But my niggas barely graduate, they ain’t got the tools
Maybe ’cause the tax dollars that I make sure I send
Get spent hirin’ some teachers that don’t look like them
And the curriculum be tricking them, them dollars I spend

Thanks to Kim Holder for the song suggestion!

Horrible Bosses 2 — Probability of a Locked Door (NSFC)

 

Nick, Kurt, and Dale head to Rex Hansen’s house with a plan to kidnap him and hold him for ransom to pay for a past business deal gone awry. When they get to the door, Kurt and Dale try to open it, but are surprised to find it locked because they believed the probability of it being locked was only 50/50. While there are only two possible outcomes, it doesn’t mean the probability of each outcome is the same.

This concept has been mistaken in other shows like Corner Gas and Young Sheldon.

Horrible Bosses 2 — Wealth Creates Wealth (NSFC)

 

Nick, Kurt, and Dale finish production on their new product, the Shower Buddy. After being asked to produce 100,000 units to be sold to Bert Hanson and his son Rex. The three take our a half million dollar loan and start production, but since they have never done this before, they don’t have the Hansons commit to paying for a portion of their order. Hanson cancels his order with a week before the loan is due in an attempt to buy their company in foreclosure. One line is especially poignant as Hanson notes that hard work doesn’t create wealth, wealth creates wealth. One of the issues with wealth inequality is that it’s not a reward for hard work, but rather a reward for previous work. Vox covered the difference between wealth and income inequality in a nicely illustrated video.

South Park — White People Flipping Houses

 

Randy Marsh is a local contractor who flips homes in the area. His TV show, white people flipping homes, has come under bad wrap when local Confederates have decided to use his television show to protest the Amazon Echo stealing jobs in the town. Marsh takes the men to court for damages because viewers negatively associate the local Confederates with the show. He’s asked why he doesn’t change the name of his show, but he lists off a variety of other show titles that were already taken. In a monopolistically competitive market, product differentiation is essential to creating demand. Items must be substitutable, but sellers also must try to convince buyers that their product is somehow unique from the competition.

South Park — Medicinal Fried Chicken (NFSW)

 

Cartman and the gang head to KFC after soccer practice only to find out it’s been converted into a new medicinal marijuana shop. Cartman convinces his mom to drive him to a nearby town for KFC, but that show has closed as well. Cartman learns that Colorado has recently passed a bill that bans fast food in low-income areas, but it turns out KFCs were only built in low-income cities, so there are effectively no more KFCs in the state. The state government has essentially set a price ceiling for KFC in low-income areas at zero dollars. One of the predictable side effects of these price controls is a black market for the item. Items with price ceilings also tend to have inefficiently low quality. The banning of fast food causes Cartman to enter the black market to feed his KFC addiction. In later scenes, Cartman is upset because he catches a dealer cutting the KFC gravy with Boston Market gravy. When the dealer suggests he can take the gravy back, Cartman notes that no one wants fried chicken without gravy, implying the two items are complements.

Thanks to Thomas Jandora for the clip reference

South Park — Alexa is Stealing Our Jobs (NSFW)

 

 

In the episode, everybody in South Park is buying that Amazon Alexa as a voice assistant to make their lives easier, however there is a negative externality to buying the Alexa. The local low-skilled workers in their town believe that these new machines are stealing their jobs, a classic South Park catchphrase, and they start to protest. Randy Marsh, a tv show personality comes up with a solution to fix this by having the locals replace the personal assistants, but not all of the locals are happy about this.

Thanks to John Miller for the clip suggestion!

The Man Show — Toilet Money (NSFW)

 

In this clip from the Man Show, Adam and Jimmy prank bathroom visitors by pouring a beer in a toilet along with fake feces and a $20 bill. The hosts try to guess whether the visitors are willing to put their hand in the toilet for $20.

Thanks Matt Rousu for this clip!

New Girl – Douchebag Jar

Schmidt has a tendency to be a bit eccentric and bother his roommates with a variety of sayings/outfits. These outburst tend to annoy his roommates so they collectively agree to regular his behavior and force him to pay a tax to a “douchebag jar” when he does things the group considers unfavorable.

Lots of Econ in This is The End (NSFW)

This is a little NSFW and has some mild language, but it illustrates tradeoffs really well. This is the End is a movie about actors playing fictionalized versions of themselves in an apocalypse. In this season, the actors are trying to decide how to divide their stockpile.

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