by Mike Kimel Sumner is Now More Wrong So there’s a a response from Sumner to my critique of his earlier post. And he clearly doesn’t get it. Again, I’ll focus on the low hanging fruit, but this time I’ll try to simplify a bit more. First comment here: Um, no you don’t want to […]
I decided to look at the Scott Sumner blog post that Mike wrote a couple of days ago and again today. The objective of the Sumner post was to disagree with Paul Krugman and others about a break in trend in US economic growth because of the Reagan revolution. But rather than look directly at […]
by Linda Bealecrossposted with Ataxingmatter More on Carried InterestAs most ataxingmatter readers know (Rdan…and Angry bear readers), there is currently under consideration in Congress legislation that would extend some of the Bush tax breaks and in return pay for those extensions by taxing service partners’ profits interests at ordinary income rates (or, under one version […]
by Bruce Webb Eric Laursen in his post Cato Premieres its Latest Horror Show points us to a new book forthcoming called ‘Social Security; A Fresh Look at Policy Alternatives’ by senior Cato fellow Jagadeesh Gokhale. Gokhale along with his oft-time collaborator Kent Smetters seems to be the father of ‘intergenerational equity’ and lead advocate […]
by Beverly Manncrossposted with The Annarborist The Necessary and Improper Clause? “Is it possible that most of us haven’t noticed that the Supreme Court has just handed Congress broad authority to detain people merely because they show signs of future dangerousness?”—Dahlia Lithwick, “Detention Slip: The Obama administration wants to hold terrorists. Did SCOTUS just give […]
Robert Waldmann I think it is not clear to all readers why I assert that in the simplest possible model of financial markets all agents will invest proportionally in all tranches of all CDOs. I’m not sure I can present even the simplest model in plain ascii. Also the model is very simple and you […]
by Mike Kimel Why Scott Sumner is Wrong A number of the big libertarian & rightwing blogs are putting up links to this post by Scott Sumner. I’m kind of surprised because the argument seems to have more than a few weaknesses. What Sumner is doing is trying to show that the policies pursued by […]
Taken from Your moment of: WTF On Thursday a federal judge gave James O’Keefe a stern talking to about his deception in entering a US Senator’s office and trying to vandalize and muck about with the telephones. What could have been felony charges were reduced to misdemeanors by influential GOP lawyers previously and after the […]
Robert Waldmann Senator Mark Warner said something about derivatives reform. I kept reading a version of what he said which seemed implausible to me. I had trouble finding a transcript or video of him speaking. In the end very beginning but I’m an idiot and didn’t notice: I found it. It confirms my suspicions.Warner is […]
by Mike KimelCross posted on the Presimetrics blog. Government Spending and Economic Expansions It is conventional wisdom that raising taxes, particularly during and just after a recession, will harm the economy. Last week I checked whether that was true. (The post appeared in the Presimetrics blog and the Angry Bear blog.) The post looked at […]