Relevant and even prescient commentary on news, politics and the economy.

More on Illinois’ income tax increase –thinking about globalization

by Linda Beale More on Illinois’ income tax increase –thinking about globalizationcrossposted with Ataxingmatter As states continue to face difficult times and vulnerable residents unemployed by the Great Recession come to the end of their ropes with the last of their unemployment support checks (those unemployed for 99 weeks don’t get any more help under […]

The Data Shows that State "Beggar Thy Neighbor" Policies Don’t Work.

by Mike Kimel The Data Shows that State “Beggar Thy Neighbor” Policies Don’t Work.Cross posted at the Presimetrics blog. Many states seem to believe a “beggar thy neighbor” approach to taxes works best. That is, the state with the lowest taxes will “steal” business from other states and produce the fastest economic growth. A lot […]

Are Earnings Rising or Stagnant?

In 2005 Kash Mansori of Angry Bear took a look at Are Earnings Rising or Stagnant? It is an issue worth periodic review: This question is not as easy to answer as it may first appear. In working on various posts last week I came across an apparent contradiction in the official data on compensation: […]

A defense of a working program

Meet the Press David Gregory brings up Social Security in relation to federal debt (this is the push), but Senator Reid responds at least forthrightly. This is noteworthy given the apparent acceptance by politicos that Social Security needs fixing at all. Here is part of the transcript: MR. GREGORY: Social Security, how does it have […]

…abandon claims that they had been sold trash

Via Benzinga, L. Randall Wray notes more of the same for socializing the costs of our financial woes: In truly depressing news, Secretary Treasury Geithner announced he was funneling $2.8 billion more bail-out funds to Bank of America. In the deal, Fannie and Freddie would agree to abandon claims that they had been sold trash […]

Health Care thoughts: Privacy and Security

by Tom aka Rusty Rustbelt Health Care: Privacy and SecurityTechnology both enabled these offenses and enabled the discovery of the offenses. First: Three employees and a contract nurse were terminated from the Tuscon University Medical Center for looking at medical records of the Tuscon shooting victims. None are accused of leaking any information. Second: Darling […]