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

Should simplicity be a primary goal of tax reform?

by Linda Beale Should simplicity be a primary goal of tax reform? I was at a housewarming party last Saturday and talked to quite a few people I didn’t know.  One was an economics professor at a regional school.  Naturally, economists and tax professors gravitate towards talk about the economy and tax policies, so it […]

Breakthrough in Kansas-Missouri Border War

by Kenneth Thomas Breakthrough in Kansas-Missouri Border War Via @goodjobsfirst, we learned Friday that Kansas Governor Sam Brownback had made a major response to Missouri’s proposed jobs truce in the Kansas City region. As regular readers may recall, studies have shown that more than $200 million has been spent moving jobs back and forth across […]

Finance Committee acts / doesn’t act on important Tax Court, Social Security, and HHS Appointments

Linda is returning to blogging again.  Welcome back.   Dan by Linda Beale Finance Committee acts/doesn’t act on important Tax Court, Social Security, and HHS Appointments As the Senate Finance Committee continued work on its markup yesterday, it approved several important nominees for positions in the Social Security Administration and in the Tax Court, but […]

A question looming before the debate last night was: Which of two mutually exclusive positions Clinton has taken recently on Dodd-Frank’s too-big-to-fail provision would she repeat in the debate? The answer: Both. [Updated 4/16]

As for Clinton herself, her bandwagon-jumping nature is a big reason why so many people dislike her.  But in this instance there was the additional element of dishonesty: she knew that Sanders rather than the editorial board members had it right about what Dodd-Frank provides. She had said so publicly, recently, in a statement in […]

Social Security: Solvency, (Unfunded) Liability, Debt & Crisis (Part One)

By law the Annual Social Security Report is due by April 1. But as in every year for the last decade this deadline was missed and of course without explanation or excuse, leaving Social Security hobbyists like me whimpering. Luckily there are not a lot of SocSec fanboys and fangirls. It might be a club […]

Paul Krugman Retracts a Key Part of Last Friday’s ‘Sanders Over the Edge’ Op-ed: That Sanders, rather than the New York Daily News editorial board members, don’t know what Dodd-Frank authorizes the federal government to do concerning ‘systemically important’ (a.k.a., too-big-to-fail) financial institutions. Good for him.

Which brings us to Snoopy, who has, for reasons I don’t fully understand, long been the emblem of the insurance giant MetLife. “At the end of 2014 the regulators designated MetLife, whose business extends far beyond individual life insurance, a systemically important financial institution. Other firms faced with this designation have tried to get out […]

I highly recommend this op-ed piece in today’s Washington Post

It’s by Zachary Karabell, who heads a hedge fund and has authored a book.  The article’s title is somewhat misleading, describing the less important of the two topics the piece discusses. ____ CORRECTION: This is from the comments thread: Kevin Meyer April 8, 2016 12:33 pm FWIW, Karabell does NOT ‘head’ or otherwise run a […]

Clinton admits she failed to do her homework, and therefore misunderstood, when she stated at the February debate that Dodd-Frank already authorizes the Treasury Dept. to force too-big-to-fail banks to pare down and that therefore no further legislation authorizing it is necessary. That’s quite an admission by her, and the New York Daily News editorial board (and the Washington Post’s Chris Cillizza) should take note.

A notion is rapidly crystallizing among the national media that Bernie Sanders majorly bungled an interview with the editorial board of the New York Daily News.His rival, Hillary Clinton, has even sent a transcript of the interview to supporters as part of a fundraising push. A close look at that transcript, though, suggests the media may […]

Welfare Reform Reform

I have been promising to write something constructive and forward looking about how to undo the damaging effects of the 1996 welfare reform (which recently struck again). I don’t really have anything original to say. Mainly I endorse the proposal made by Irwin Garfinkel, David Harris, Jane Waldfogel and Christopher Wimer in a Century Foundation […]