Glenn Greenwald offers his thoughts on the issue of NSA surveillance: On Wednesday morning, I’ll be testifying, by remote video, before an ad hoc committee in the House of Representatives about NSA disclosures. It begins at 9:30 am ET and will, I believe, be broadcast on C-SPAN. Following my testimony will be an excellent panel […]
by Linda Beale Inequality: Obama’s Speech, Detroit’s Bankruptcy, Taxes Was Obama’s speech on inequality really what Michael Lind claims in “The Day the Right Lost the Economic Argument” Salon.com (July 25, 2013)? The right, both here and internationally, has been pushing for austerity for most while those at the top reap unparalleled rewards from upward-moving […]
Lifted from Robert’s Stochastic Thoughts: Minesweeper in the Washington Post. “It’s like Minesweeper,” former Wyden staffer Jennifer Hoelzer told The Washington Post’s Ezra Klein in June, referring to the computer game in which players slowly probe unknown territory, looking for bombs. “You just have to ask questions to try to get the outlines of what they’re not […]
Wired points to lawsuits fizzling so far, but also more secrecy and claims it is off limits to courts. The Obama administration for the first time responded to a Spygate lawsuit, telling a federal judge the wholesale vacuuming up of all phone-call metadata in the United States is in the “public interest,” does not breach […]
by Linda beale Proposals for Cutting the IRS Budget As the budget battles loom again in our dysfunctional Congress, one of the targets of the right is, not unexpectedly, funding for the IRS. Sequestration is already hampering the IRS’s ability to perform its functions. See $6 collected for every $1. But the right wants to […]
by Linda Beale Senators promised 50 years of secrecy on their tax reform proposals There continues to be more blather about the need for “tax reform, and buddies GOP Dave Camp and skin-deep Dem Max Baucus seem to be intent on accomplishing something “big”. And that’s what’s worrying me. The Republicans have been arguing that […]
by Rebecca Wilder The trend in US corporate profits is what you think it is In my research for an article about the cross section of national income, I ran across this piece in Forbes by Tim Worstall. In this article, he uses proprietary Bloomberg and WSJ data for 2012 corporate offshore cash holdings to assess […]
Lifted from comments: Run 75411 reacts to Daniel Alpert at Economonitor. : It appears much of the job growth has been in low wage opportunity which forces people to do with less and detracts from demand led economic growth. The economic bump in taking a lower wage paying job is just not that great; average Unemployment […]
by Linda Beale Offshoring profits with captive reinsurance One of the ways that corporations manage to cut their federal income tax bills way, way below the statutory rate is by setting up reinsurance affiliates offshore. While some of these reinsurance affiliates may actually function as full-service reinsurance companies to many different customers, those truly taking […]