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

America’s First Fracking Trial

Re-posted from Naked Capitalism (with permission from the author) comes a well written piece on an important court case concerning damages to health and property from fracking operations in Texas (hat tip Run75441): Texas Family Awarded $3 Million in America’s First Fracking Trial by Lambert Strether of Corrente $3 Million? More like this, please. Here’s some […]

Scott Brown Comes Out for a New Hampshire State Healthcare-Insurance Public Option. In the Name of Freedom. Cool!**

[Annotation added below.] I’ve written here on AB, extensively now, about the invidious co-opting of the word “freedom” by the political far-right.  I’ve addressed this mainly in the context of the conservative Supreme Court justices’ neat trick of disconnecting the word from any relation to actual physical freedom as long as it is a state court […]

“Independent” Foreclosure Review Error Rate Vastly Higher

Yves Smith points to more OCC serving bank interests (not a surprise) in “Independent” Foreclosure Review Error Rate Vastly Higher Than Previously Admitted and well worth reading as usual: At this point, it seems hard to add insult to injury, given the terrible track record of the OCC Independent Foreclosure Reviews. But it’s nevertheless been […]

Kudos to Ross Douthat for his rebuttal to David Brooks on Piketty. Now, who will rebut Douthat about recent tax-policy history?

It turns out that Paul Krugman is not the only NYT columnist/blogger who reads Angry Bear. Ross Douthat does, too! Okay, seriously: Douthat’s delicate-ballet filleting of Brooks’s take on Piketty is priceless. Now, maybe someone can fillet Douthat’s take on tax-rate increases for “Americans making (or inheriting) in the $100,000-$500,000 range,” which, he says, “is […]

Gail Collins (and me): Free Us From ‘Freedom’

To be fair, I don’t think Hannity had any idea about Bundy’s racial theories. However, it’s generally a good idea to be wary of lionizing people who go around saying: “I don’t recognize the United States government as even existing.” Anyhow, Cliven was toast, although he did make an appearance on CNN, in which he […]

The David Brooks Phenomenon: He does ‘rewrite’ for Megan McCardle! [UPDATED]

Piketty wouldn’t raise taxes on income, which thriving professionals have a lot of; he would tax investment capital, which they don’t have enough of. — David Brooks, The Piketty Phenomenon, New York Times, today Alexandra Petri has a trademark-funny piece today in the Washington Post that she promises tells you “[e]verything you need to know […]

Everything you need to know about Tax Freedom Day®

Monday, April 21, was 2014 Tax Freedom Day®, according to the Tax Foundation. The Tax Foundation is not exactly known for unbiased research, and its promotion of Tax Freedom Day® is no exception. The Foundation claims that Tax Freedom Day® is “a vivid, calendar-based illustration of the cost of government.” In other words, instead of […]

Lane Kenworthy, Prosperity, and the Infinite Forms of “Redistribution”

I haven’t beaten the drum lately for Lane Kenworthy — perhaps the best researcher out there on the economic effects of income and wealth distribution. His years of careful, diligent (and voluminous) statistical and analytic work, tapping the best data sets available, and his cogent, coherent explanations of his findings, should get a lot more attention […]

Repeat After Me: The American Tax System is Hardly Progressive at All

The latest numbers on 2014 taxes as share of income are out, and they’re saying pretty the same thing as last year: Above about $80K a year in income, the American tax system is not really progressive. Like, at all: The people making $100K a year pay about the same share of income at people making $10 […]

Now That the Supreme Court Has Found a Right to Vote in the First Amendment, Are State Laws Denying the Vote to Convicted Felons Unconstitutional? You Betcha.

“There is no right more basic in our democracy than the right to participate in electing our political leaders.”  That’s how Roberts began the opinion. So I guess we can now assume that the Court will strike down all those voter-ID laws that so clearly impact that most basic of rights, and will do so […]