We now come to the exciting conclusion of Thomas Piketty’s monumental work, Capital in the Twenty-First Century. This is not an exaggeration: the final part of the book contains findings that I consider to be simply bombshells in their significance. In Part 4, “Regulating Capital in the Twenty-First Century,” Piketty calls for a new “social […]
In a new radio interview, [Massachusetts senator-cum-New Hampshire senate candidate Scott] Brown professes support for protecting people with preexisting conditions and other general goals of the law. But he reiterates his support for repealing Obamacare, claiming its goals should only be accomplished by states: “I believe states can do it better. They can certainly cover preexisting […]
What impact would Congress have on corporations if it were to change the amount of tax-deductible executive performance-based compensation downwards from $1 million to $500,000? The portal to the upper 1% of household taxpayers in income is $500,000 in normal income. If Congress were to limit tax-deductible performance-based income to $500,000, the change would put […]
Remember that old jingle Burger King used in it’s advertisements? Well it looks like Burger King is determined to have it “their” way by merging with Canada’s Tim Hortons in a take over of the company. Not that Canadians will be happy with this merger as they were not according to rumor the last time […]
Returning off shored money to the US was a way to create jobs politicians promised and promoted back in 2004. But not so much was the result. From Forbes: Many in Congress are argueing that corporations are leaving billions of dollars abroad at the expense of bringing it home to invest in jobs. However, says […]
Dan here…Yves Smith reminds us on the announcement of a reported ‘biggest fine ever’ on Bank America that the deals, fines, and reporting on mortgage misconduct need careful interpretation. And a skeptical attitude. (partially re-posted…worth the trip over) by Yves Smith Bank Settlement Grade Inflation: High Bullshit to Cash Ratio in $17 Billion Bank of […]
[T]here is probably no one more gung ho for Obamacare repeal than [Senate Republican nominee] Tom Cotton. He talks about it all the time. So he obviously would roll back the Arkansas version of the state’s Medicaid expansion, right? Well, he has consistently refused to say. And in a new interview this week, Cotton was pressed on […]
Lifted from comments on Financing Social Security, Bruce Webb comments on Social Security prpaganda: Jim, the problem is that those people with “government, financial, business experience” who are promoting the message “No check for you!” to millennials know full well the numbers behind the following equation: No Check for You = After Trust Fund Depletion a […]
Lifted from Robert Walmann’s… Paul Krugman wrote: The answer all the deficit-panic types offer is basically that we must cut future benefits. But why, exactly, is that something that must be done immediately? If you state the supposed logic, it seems to be that to avoid future benefit cuts, we must cut future benefits. I’ve […]
Vis the NYT comes this look at the economics of small scale farming: Don’t let your children grow up to be farmers AT a farm-to-table dinner recently, I sat huddled in a corner with some other farmers, out of earshot of the foodies happily eating kale and freshly shucked oysters. We were comparing business models […]