Michael Markey
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Articles by Michael Markey
Markey: Turn 'free' school meals into a win for Michigan farmers
In politics, we love to call things “free.” Free college. Free health care. Free school lunches. But Michiganians know better: nothing is free. Taxpayers foot the bill, and when hundreds of millions of dollars are involved, we ought to be honest about where that money goes and whether it’s being put to good use. Michigan’s new budget continues funding “free” breakfast and lunch for every K-12 public school student. It’s a well-intentioned program.
Markey: How to fix Michigan's broken wage system
In 2018, Michigan voters were sold a bill of goods. Out-of-state special interest groups swooped in, spent millions and pushed through a ballot initiative to jack up the minimum wage and eliminate the tipped wage credit. They claimed they were helping workers. In reality, they dealt a 400% cost increase to local restaurants and put thousands of tipped employees at risk of losing the jobs they relied on. Before this change, Michigan’s system worked.
Opinion: Returning to basics is the best path forward for Michigan's schools
Bryan Posthumus and Michael Markey View Comments Michigan’s education system is at a crossroads. For too long, we’ve been told that our K-12 schools are failing because we don’t spend enough money.
Trump's Tip Tax Revolution: A Game-Changer for Workers and Wallets
President Donald Trump caused a nationwide stir when, during his campaign, he proposed eliminating the income tax on tipped wages. While the suggestion may sound radical to some, the underlying idea is rooted in equity. My first job was at a restaurant; it is actually what inspired me to become an entrepreneur.
Long-Read MDM4 Sequencing Reveals Aberrant Isoform Landscape in Metastatic Melanomas
All articles published by MDPI are made immediately available worldwide under an open access license. No special permission is required to reuse all or part of the article published by MDPI, including figures and tables. For articles published under an open access Creative Common CC BY license, any part of the article may be reused without permission provided that the original article is clearly cited. For more information, please refer to https://www.mdpi.com/openaccess.
MARKEY: A Conservative Approach To Homeownership Will Help Us Achieve The American Dream
The American Dream looks different for everyone. For some it is having children and raising a family. For others, it is starting their own business. The beauty of the American Dream is that it is unique and tailored to our lives and aspirations. One thing, however, remains uniform in the vast majority of every dream: homeownership. The best way to build wealth, provide for your family and secure a successful future is through owning a home. But for many Americans, it is becoming unattainable.
A taxing problem for middle-class America: Why are we penalizing people in need?
For many decades, middle-class Americans have relied on investing in private retirement programs to supplement Social Security income and prepare for retirement. Recently, more of those same middle-class Americans have had to withdraw from those accounts early, forcing them to pay exuberant fines and taxes. For the last 20 years, I have been advising people not to take early distributions on their retirement accounts unless absolutely necessary — to safeguard their retirements.
Bold ideas can reform Social Security without cutting benefits
OPINION: It’s campaign season, and you know what means: entitlement reform, or at least talking about entitlement reform. For as long as I have been alive, Republicans and Democrats have included planks in their platforms to address the rapidly depleting entitlement trust funds. This year is no different. On Wednesday, Republican presidential candidates spoke on this very issue at their primary debate in Alabama. Their solution: SSDD — (same “stuff,” different day).
Cage Warriors: Paul Hughes earns speedy Dublin knockout win over Jan Quaeyhaegens Original
Paul Hughes secured victory with a left hook after two minutes and 24 seconds into the first round at Cage Warriors 161 in Dublin Paul Hughes secured a sensational first-round knockout victory over Jan Quaeyhaegens at Cage Warriors 161 at the RDS in Dublin The county Derry man, 26, secured victory with a left hook after two minutes and 47 seconds of the bout. The Cage Warriors featherweight champion had moved up to lightweight to face Belgian Quaeyhaegens.
MARKEY: Americans Will Bail Out Universities Under Biden’s New Student Loan Plan
Growing up in Mid Michigan, my parents taught me the importance of earning my own way. In elementary school, my parents were in Amway and would store some of the products in our basement. When I realized the food we were storing was the same food as what our school was selling, I decided to take matters into my own hands and start selling our product at a lower price than the school. This was my first business, and instilled in me an entrepreneurial mindset.
Before talking about Green New Deal, we must tackle our Big Green Debt Original
NEWYou can now listen to Fox News articles! Not too long ago, radical environmentalists in Congress attempted to pass an extreme climate change agreement they dubbed the "Green New Deal." Though this legislation did not pass and is widely unpopular with the American populace, that has not stopped Democrats from trying to implement portions of the legislation at the state and local levels.
How Satellites Can Save Arms Control
Michael Markey & Jonathan Pearl & Benjamin Bahney, Foreign Affairs August 6, 2020 Rather than focusing on the brass ring of nuclear arms limitations and reductions, policymakers should try for something broader yet more modest: a global treaty that includes China, Russia, and the United States and prohibits interference with both commercial and government satellite operations during peacetime.
How Satellites Can Save Arms Control
During the Cold War, the United States and Soviet Union spent decades negotiating over how to control the competition in nuclear arms. The resulting agreements kept the peace by limiting the number and type of nuclear weapons each side deployed and by establishing norms and practices of transparency that increased confidence that the other side was adhering to its promises. Today, however, the arms control regime is crumbling, and with it the remaining barriers to unbridled nuclear competition.
Leah McCourt aiming for summer return in Los Angeles
McCourt feeling 'recharged' by lockdown and aiming for summer return Northern Irish Mixed Martial Artist Leah McCourt has targeted a return to the Bellator cage this summer in Los Angeles but admits there is uncertainty surrounding any potential events in the summer. "There's been talk about July and August in Los Angeles," says the 27-year-old. "Bellator are owned by Paramount Studios. They have a cage at their on-site studios so they could set up there.
McGregor v Cerrone would be 'fans' favourite'
Owen Roddy has helped Conor McGregor to win UFC titles in two weight divisions A fight between Conor McGregor and Donald Cerrone would be a "fans' favourite" says the Irishman's striking coach Owen Roddy. A potential showdown between the two fighters moved a step closer following 'Cowboy' Cerrone's impressive TKO victory over Alex Hernandez in January. McGregor responded on social media, saying: "For a fight like that Donald, I'll fight you.
Rhys McKee makes winning Cage Warriors debut
Rhys McKee hopes to progress to a place in the UFC Rhys McKee marked his Cage Warriors debut with a first-round stoppage win over Jefferson George in Cardiff. The Ballymena Mixed Martial Artist ended the contest with sixteen seconds left in the round after a flurry of strikes against the cage. "I felt him break, I felt him fade - I had too much power," the 23-year-old told Cage Warriors. However, Belfast's Joe McColgan suffered a first-round TKO loss to Jai Herbert earlier on Saturday night.
McKee and McColgan target Cage Warriors success
Rhys McKee aims to bounce back from a defeat when he fights in Wales Northern Ireland lightweights Rhys McKee and Joe McColgan hope victories on Saturday night's Cage Warriors 100 card in Cardiff can be a springboard to the UFC. Ballymena fighter McKee will make his Cage Warriors debut - having recently signed for the promotion he will take on England's Jefferson George. Belfast man McColgan goes up against Jai Herbert, one of McKee's former opponents.
Fixed Index Annuities and Variable Annuities Are Good Guys
I was sitting watching college football, just like you probably have many times, when the TV camera followed the running back after a fake handoff from the quarterback. Completely unaware of the mistake, the camera stayed on the player without the ball, the wrong offensive threat. I yelled at the dumb TV as I listened to the play develop outside of the viewing area.
Wake up, Dave Ramsey: Your math is flawed
Dave Ramsey uses Ramsey math. Ramsey math makes something completely wrong sound completely right. Related: Truth comes from flipping Dave Ramsey’s financial advice Consider this: On YouTube, under the heading “Dave Ramsey on Social Security,” you’ll find a nine minute Ramsey rant full of half-truths, no truths, fallacies, and Ramsey math. Ramsey once again hurts his listeners with bad math, which leads to bad advice, and bad advice does hurt people.
Wake up, Dave Ramsey: Your math is flawed
According to finance and entertainment personality Dave Ramsey: "The current Social Security system sucks beyond belief!" (Photo: iStock) Using an inflation adjusted rate of return will partially offset the bias created by using wage indexing. This still gives a boost to Ramsey’s numbers and makes his point possibly more plausible; we’ll call this boost a handicap. They use a handicaps in golf and in bowling, so why not in finance?
Debunking Dave Ramsey's column advice is just too easy
When writing this column, I enjoy using Dave Ramsey’s written opinions far more than what he says on the radio. Unlike live radio, in his column, Dave Says, Ramsey has the chance to think about what he wants to say. He can review each word, sentence and paragraph to make sure the message given is the message intended. Ramsonites often charge me with not giving Mr. Ramsey enough leeway and encourage me to consider that everyone makes mistakes. While true, written work largely debunks this assertion.
Debunking Dave Ramsey's column advice is just too easy
Dear Dave Ramsey: There is a difference between investment advisors and financial advisors. Here, the personal finance entertainer was photographed in his broadcast studio in Brentwood, Tenn. (AP Photo/Mark Humphrey) When writing this column, I enjoy using Dave Ramsey’s written opinions far more than what he says on the radio. Unlike live radio, in his column, Dave Says, Ramsey has the chance to think about what he wants to say.
Truth comes from flipping Dave Ramsey’s financial advice
If you flip the equation, it will force you to think with your head, not with your heart. Any loyal Dave Ramsey listener has heard this phrase hundreds of times. And I agree: Your head judges on facts and truths. Your heart perverts reality and reshapes the truth to be parallel to your emotions. So let’s flip the equation and look at Ramsey’s advice with our heads and not our hearts. Imagine a couple named Bob and Mary. They’re close friends of yours with a good household income.
Truth comes from flipping Dave Ramsey’s financial advice
Use your head and not your heart. You’ll see just how flawed Dave Ramsey’s financial advice really is. (Photo: iStock) If you flip the equation, it will force you to think with your head, not with your heart. Any loyal Dave Ramsey listener has heard this phrase hundreds of times. And I agree: Your head judges on facts and truths. Your heart perverts reality and reshapes the truth to be parallel to your emotions.
8 more Dave Ramsey myths debunked
Dave Ramsey, underneath the scrutiny of financial regulation, has knowingly or intentionally unknowingly altered, tainted or ignored math to support his beliefs and claims. Like Lance “I use other people’s blood” Armstrong, Ramsey has mislead the American public about his work. I know this sounds harsh. It is. I want it to be. The holidays are a time for giving. My gift to you is truth and reason. For those who like, love, or dare I say… adore Dave Ramsey, you have two choices: 1.
8 more Dave Ramsey myths debunked
Dave Ramsey's syndicated radio program is heard on more than 500 radio stations throughout the United States and Canada. (Photo: iStock)Dave Ramsey, underneath the scrutiny of financial regulation, has knowingly or intentionally unknowingly altered, tainted or ignored math to support his beliefs and claims. Like Lance “I use other people’s blood” Armstrong, Ramsey has mislead the American public about his work. I know this sounds harsh. It is. I want it to be. The holidays are a time for giving.
Let’s play a new game: Dave Ramsey Jenga®
This columnist knows that Dave Ramsey is just trying to help. The problem is, Ramsey is a professional finance entertainer who's not actually licensed to help.(Photo: iStock)I hate Jenga®. To me, it’s a stupid, boring, building game with 54 blocks, most of which are inconsequential to the stability of the tower. But this yawner of a game got me thinking. Complete your profile to continue reading and get FREE access to LifeHealthPro.com, part of your ALM digital membership.
Show host Dave Ramsey should be regulated, but never will be
Today my goal is to prove that the Department of Labor’s forthcoming fiduciary rule should regulate talk radio show host Dave Ramsey and other finance entertainers like him as fiduciaries. They should be regulated, right? Or would doing so violate Ramsey’s First Amendment right to freedom speech? As I wrestled with these questions before writing this column, countless hours evaporated in front of my computer. I stared at a blank monitor that seemed to mock me with each blinking pulse.
The DOL may regulate entertainer Dave Ramsey, but should it?
Today my goal is to prove that the U.S. Department of Labor’s forthcoming fiduciary rule should regulate talk radio show host Dave Ramsey and other finance entertainers like him as fiduciaries. They should be regulated, right? Or would doing so violate Ramsey’s First Amendment right to free speech? As I wrestled with these questions before writing this column, countless hours evaporated in front of my computer. I stared at a blank monitor that seemed to mock me with each blinking pulse.
Here’s how Dave Ramsey racked up billions in listener losses
Seriously, Dave?! You never cease to amaze me. On August 4th while listening to “The Dave Ramsey Show,” I wondered how the host, in about two minutes time, could unknowingly cause so much damage. Like a Great Dane on white carpet, you can yell and scream at the gentle beast, but the animal is not likely to understand your contempt. This time, the caller was an almost 60-year-old married man with questions about whether he should cash out his IRA to pay off his mortgage.
Here’s how Dave Ramsey racked up billions in listener losses
Bad financial advice doled out daily really adds up. (Photo: iStock)Seriously, Dave?! You never cease to amaze me. On August 4th while listening to “The Dave Ramsey Show,” I wondered how the host, in about two minutes time, could unknowingly cause so much damage. Complete your profile to continue reading and get FREE access to LifeHealthPro.com, part of your ALM digital membership. Benefits: Your access to unlimited LifeHealthPro.com content isn’t changing.
Debunked: Dave Ramsey’s cash value life insurance advice
“A long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defense of custom. But the tumult soon subsides. Time makes more converts than reason.” — Thomas Paine Over 200 years ago, in his pamphlet “Common Sense,” the political philosopher Thomas Paine urged his fellow brethren to challenge fallacies that had been blindly accepted as fact.
Math and logic debunk Dave Ramsey’s CVLI advice
“A long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defense of custom. But the tumult soon subsides. Time makes more converts than reason.” – Thomas Paine Over 200 years ago, in his pamphlet “Common Sense,” Thomas Paine urged his fellow brethren to challenge fallacies that had been blindly accepted as fact.
Debunked: Dave Ramsey’s cash value life insurance advice
“A long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defense of custom. But the tumult soon subsides. Time makes more converts than reason.” — Thomas Paine Over 200 years ago, in his pamphlet “Common Sense,” the political philosopher Thomas Paine urged his fellow brethren to challenge fallacies that had been blindly accepted as fact.
Dave Ramsey: Negligent, incompetent or simply naive?
I was asked the other day: “What’s more important? …Getting your message out, or getting paid?” Without question or hesitation, I answered, the message. I think Dave Ramsey could’ve said the same at one point in his past. But I wonder if he could honestly say this today. Money can change everything, can’t it? Consider Bernie Madoff. Was he always a cheat? Probably not.
Dave Ramsey: Negligent, incompetent or simply naive?
The host of the nationally-syndicated "Dave Ramsey Show" got it wrong regarding one recent caller’s mortgage question. (Photo: iStock) I was asked the other day: “What’s more important? …Getting your message out, or getting paid?” Without question or hesitation, I answered, the message. I think Dave Ramsey could’ve said the same at one point in his past. But I wonder if he could honestly say this today. Money can change everything, can’t it? Consider Bernie Madoff. Was he always a cheat? Probably not.
Don’t confuse Dave Ramsey’s confidence with smarts
About a year ago, I was sitting by myself at the back of a bus filled with advisors and insurance agents. A few rows ahead of me, a guy proclaimed to the group: “I love math!” Someone else, taking up the challenge, threw out two numbers and said, “Multiply these…” Now, I’m not always a social person. I’m often a quiet listener and keep to myself. But I love math, too. So I couldn’t help but perk up during this exchange.
Don’t confuse Dave Ramsey’s confidence with smarts
Dave Ramsey may be masking a lack of real personal finance insight with confidence and bravado. (AP Photo/Josh Anderson,File)About a year ago, I was sitting by myself at the back of a bus filled with advisors and insurance agents. A few rows ahead of me, a guy proclaimed to the group: “I love math!” Someone else, taking up the challenge, threw out two numbers and said, “Multiply these…” Now, I'm not always a social person. I'm often a quiet listener and keep to myself. But I love math, too.
3 exciting unintended consequences of the DOL rule
In November 2015, the Obama administration eliminated and phased out Social Security claiming strategies, calling them unintended loopholes. After Mr. Obama fixed Social Security, our savior of social injustice, along with his administration, he decided to fix the financial industry. The result was the Department of Labor conflict-of-interest rule. This rule created its own unintended consequences, which are not only massive but also extremely intriguing.
3 exciting unintended consequences of the DOL rule
The death of FIA distribution and other products due to the DOL fiduciary rule is a travesty for our industry. Or is it? In November 2015, the Obama administration eliminated and phased out Social Security claiming strategies, calling them unintended loopholes. After Mr. Obama fixed Social Security, our savior of social injustice, along with his administration, decided to fix the financial industry. The result was the Department of Labor conflict-of-interest rule.
3 false assumptions Dave Ramsey makes about term life insurance
I’m often asked, “Why do you think people like Dave Ramsey so much, and why don’t you like him?” First, it’s not that I don’t like Dave Ramsey. One of my core beliefs is that everything can be broken down into a simple mathematical equation, including Dave’s advice. Math is math. It’s simple. It’s not personal; it’s just math. Dave seemingly doesn’t use math. Instead, he focuses on preconceived notions, many of which were birthed when Prince was still making hit albums.
3 false assumptions Dave Ramsey makes about term life insurance
Markey: Promoting the purchase of temporary insurance to protect against a permanent risk as Dave Ramsey does (above) is bad advice. I’m often asked, “Why do you think people like Dave Ramsey so much, and why don’t you like him?” First, it’s not that I don’t like Dave Ramsey. One of my core beliefs is that everything can be broken down into a simple mathematical equation, including Dave’s advice. Math is math. It’s simple. It’s not personal; it’s just math. Dave seemingly doesn’t use math.
A closer look at Dave Ramsey’s crusade against credit
Dave Ramsey has slandered the credit card industry in much the same way he slanders insurance — and a close look at his math suggests why. (AP Photo) Last summer, an insurance guy from Ohio —who closely resembled Urban Meyer — sat down across from me in a hotel hot tub. He recognized me as “the Ramsey guy.” For the next fifteen minutes, as I tried to relax and have a drink, he went on about how I didn’t understand debt and what a lifesaver Dave Ramsey had been for him and his wife.
The real reason Dave Ramsey should be regulated
It's probably unintentional, and could be rooted in either his lack of fundamental training and licensing or his lack of personal financial diversity. I'm not sure which of these is true, and while it's fun to speculate, I will not. The fact remains: Dave has lied to you. He will tell you financial peace is achieved by the accumulation of assets coupled with the eradication of debt. This is not true. No debt and no income still equal no financial peace.
Will the real Dave Ramsey please step up? Why Dave should actually love annuities and permanent life insurance
Our past dictates our future. We say Dave Ramsey’s past is why he is vehemently against debt. We say his opinions on this matter are valid, since he’s gone through the experience firsthand. But at what point do yesterday’s events stop dictating today’s behaviors? At what point are our past experiences demoted from juggernaut to faint memory? I’m not sure of the answer, but I do believe the Dave Ramsey of the past would be disappointed with the Dave Ramsey of the present.
Why Dave Ramsey should actually love annuities and permanent life insurance
Though he’ll never admit it, the bankrupt Dave Ramsey of the past would love many of today’s insurance products. (AP Photo/Mark Humphrey) We say Dave Ramsey’s past is why he is vehemently against debt. We say his opinions on this matter are valid, since he’s gone through the experience firsthand. But at what point do yesterday’s events stop dictating today’s behaviors? At what point are our past experiences demoted from juggernaut to faint memory?
Will the real Dave Ramsey please step up? Why Dave should actually love annuities and permanent life insurance
Though he’ll never admit it, the bankrupt Dave Ramsey of the past would love many of today’s insurance products. (AP Photo/Mark Humphrey) We say Dave Ramsey’s past is why he is vehemently against debt. We say his opinions on this matter are valid, since he’s gone through the experience firsthand. But at what point do yesterday’s events stop dictating today’s behaviors? At what point are our past experiences demoted from juggernaut to faint memory?
Can you imagine averaging 18% returns? That's what early Dave Ramsey followers were told to expect
I hate editors. I say this facetiously, of course. My editor — to whom you can submit your displeasures about this column at — omits or rewrites most of my jokes and assertions that lack substance or relevance. Without her, I probably would’ve gotten myself in trouble with my sarcasm and accusations. So, to all the editors out there I say, thank you. Without you, we sometimes say silly things.
Why Dave Ramsey is wrong about return rates
I say this facetiously, of course. My editor — to whom you can submit your displeasures about this column at nmorford@alm.com — omits or rewrites most of my jokes and assertions that lack substance or relevance. Without her, I probably would’ve gotten myself in trouble with my sarcasm and accusations. So, to all the editors out there I say, thank you. Without you, we sometimes say silly things.
Can you imagine averaging 18% returns? That's what early Dave Ramsey followers were told to expect
Are you willing to trust Mr. Ramsey simply because he’s entertaining? I’m not. (AP Photo/John Russell) I say this facetiously, of course. My editor — to whom you can submit your displeasures about this column at nmorford@alm.com — omits or rewrites most of my jokes and assertions that lack substance or relevance. Without her, I probably would’ve gotten myself in trouble with my sarcasm and accusations. So, to all the editors out there I say, thank you. Without you, we sometimes say silly things.
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