Dylan Ratigan interviews Yves Smith on where the money goes (h/t rjs): Smith: Investors Are Afraid of Suing the Big Banks for Fear the Government Will RetaliateOn this episode of Greedy Bastards Antidote, we’re covering a new term from our upcoming book. This week, we’re focusing on extractionism. Joining us to discuss it is Yves […]
Often participating in econoblogging is done by an older crowd. I receive requests by younger potential econobloggers to read some of their posts, but often such posts are lacking in enough documentation and thoroughness of understanding for publication here. My hope is that this young woman becomes the exception. Re-posted with authors permission Dan […]
by Linda Beale House passes spending bill While the Senate was wrangling over what of the noxious provisions in HR 3630 they would have to keep in order to get expanded unemployment compensation and a payroll tax cut, the House passed a spending bill 296-121 (with 147 Republicans and 149 Democrats in favor) to […]
by Rebecca Wilder EA Infernal Devaluation Progressing The EU answer to rebalancing portfolio and trade flows within the Euro area (EA) without currency devaluation is recession and deflation. They call this ‘internal devaluation’ – shifting relative prices by reducing domestic demand in the debtor countries, thereby shifting the terms of trade. Marshall Auerback calls it ‘infernaldevaluation’. […]
by Linda Beale Payroll Tax Cut -Keystone vote up Saturday at 9 in Senate Apparently, Senate leaders on Friday ironed out the difficulty between the GOP and the Democratic party. The GOP got most everything it wanted, and the Dems got just barely more than nothing. That’s the way “negotiating” seems to go in the Congress […]
by Dale Coberly Social Security…Hearts and Minds Tom Margenau wrote an essay about the payroll tax holiday in The National Memo Is Your Tax Holiday Gift A Lump of Coal? His essay seemed to me to illustrate one of the problems with the Social Security “debate” as it has been constructed. Margenau describes himself as […]
by Linda Beale Should reinsurance using foreign affiliates be deductible to US corporations? Foreign-owned US insurance companies frequently reinsure through their foreign affiliates and then claim a deduction under section 832(b)(4)(A) for the reinsurance premium paid to the affiliate to reduce the US tax liability of the US company. Rep. Richard Neal (D-Ma) introduced a […]
Health Care thoughts: PPACA Employer Mandate Part 1 So I am trying to put together a template for evaluating the employer health insurance mandate under PPACA…. Some preliminary thoughts: 50 employees does not mean 50 employees, there as a Full Time Equivalent (FTE) calculation that is certain to confuse employers because it is different than […]
Dan here…Linda Beale writes on the intent and passage of these bills. Whether the use of the payroll tax has political and budget consequences for people’s perceptions of Social Security and its future remains a question previously discussed at Angry Bear here. by Linda Beale (Update from Linda: Payroll Tax Extension Passes) GOP’s payroll tax […]