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

F-35 and sequester dollars and cents

With constant delays due to significant engineering issues and design flaws, the cost of the F-35 has risen to $395.7 billion. But that’s just to build the planes. When you add in the cost of testing, operations and support, it will cost an additional $1.1 trillion — bringing the overall price tag to an incomprehensible […]

Obama caves yet again: offering Social Security cuts to appease the right…

by Linda Beale Obama caves yet again: offering Social Security cuts to appease the right… Obama’s budget isn’t even released yet and he’s already caving to the “let’s make the rich richer and forget the rest” crowd.  That crowd that claims that we need a capital gains preference so the rich can gather all that […]

“The messenger wore a skirt,” says Marna Tucker, “Could Alan Greenspan take that?”*

by run75411 Re-posted from New Agenda April 2009, Bill reminds us of some of the history leading up to today: Editor’s note: We are pleased to present this guest post by Bill H, who’s known around the internet as run75441, and who can usually be found writing in his area of expertise: finance. Recently, Stanford Magazine […]

The Tax Free Tour; a look at the offshore tax haven system

We’ve all talked and read about the idea and practice of offshore accounting to reduce taxation. Here is an article produced by a show called Backlight.  Backlight appears to be a news journal show in the idea of Frontline by a Dutch public broadcasting organization known as VPRO. This episode is titled: The Tax FreeTour.  […]

Addressing TBTF with tax and other policy: because "Big Banks Go Wrong, Pay Little Price"

by Linda Beale Addressing TBTF with tax and other policy: because “Big Banks Go Wrong, Pay Little Price” The New York Times today reiterated what many Americans lament–Big Banks went uncharged for serving as the main engine of the Great Recession that cost ordinary Americans jobs, homes and futures.  See Andrew Ross Sorkin, Big Banks […]

Senate Confirms Lew at Treasury

by Linda Beale Senate Confirms Lew at Treasury The US Senate confirmed Jacob Lew as Treasury secretary by a 71 to 26 vote (with 20 Republicans voting with Democrats) late Wednesday.  See Jeremy Peters,Senate, in a more affable mode, backs Treasury nominee, New York Times (Sept. 27, 2013). I’ve covered my reservations about Jack Lew […]

Dr. Richard Wolff on the Sequester

I watched  Dr. Wolff (Professor emeritus, UMass) on this past week  episode with Bill Moyers.   At the end of this show, Mr. Moyers invited the viewers to submit questions to Dr. Wolf who has agreed to return in a couple of weeks to answer them. Here is he with an interview by Julianna Forlano of […]

Private equity and real estate managers get a "costly and unjust [tax] perk"

by Linda Beale Private equity and real estate managers get a “costly and unjust [tax] perk” Through a process of Wall Street interpretation of the law and the “Wall Street Rule” (that says that the government tax administration will have great difficulty gainsaying an interpretation of the tax laws that lots of high-powered–read “wealthy”–Wall Street […]

Hedge Fund Tax Avoidance Schemes–using (purported) offshore reinsurers

by Linda Beale Hedge Fund Tax Avoidance Schemes–using (purported) offshore reinsurers It seems that billionaires think they are entitled to it all and think they should be able to run their speculative games without paying much of anything at all in taxes to the government they depend on. And none of this is good for […]

Right-Wing Mythology 101: the myth of the rich fleeing taxes

by Linda Beale Right-Wing Mythology 101: the myth of the rich fleeing taxes One of the right-wing’s most cherished myths is that highly progressive taxes will kill state revenues, since the rich who have the money to pay them will simply move to a more accommodating jurisdiction.This is repeated in most conversations I’ve had with […]