On September 4, Nevada Governor Brian Sandoval announced that electric car-maker Tesla had chosen Nevada for the location of its much sought-after Gigafactory. Contrary to its claim that it wanted $500 million, Tesla in fact wanted speed plus the highest bidder. As I analyzed last month, a $500 million subsidy would have been relatively low […]
Okay, so most of you who don’t live in Iowa (and most of you don’t live in Iowa, since it’s not a populous state) probably are unaware that the outcome of the election to replace retiring progressive Iowa senator Tom Harkin—which in turn may determine party control of the Senate—may turn on a dispute between […]
Barkley Rosser at Econospeak writes an op-ed on the Washington Post’s reporting: Dana Milbank Joins Parade Of WaPo Hysterics Over Social Security And Medicare Dean Baker has posted on this more completely and effectively than I shall do here (and his url is so long on this one, I shall not link directly, sorry), but […]
I wonder what happens when a Democratic canidate for President campaigns on a proposal to increase taxes on high incomes and cut taxes on middle and lower class incomes (that is on the class warfare platform) ? IIRC what happens is that he gets elected. This is what Clinton did in 1992 and Obama did […]
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 […]