Now Amazon wants to break the bank On Thursday (October 19), the first stage of the Amazon sweepstakes for a second headquarters, dubbed “HQ2,” was completed as cities submitted their bids to the Internet giant. With a possible $5 billion investment and eventually 50,000 jobs at salaries over $100,000, this is one of the very […]
Treasury Secretary Mnuchin’s Forked Tongue on Tax Cuts for the Wealthy Shortly before the inauguration, Steve Mnuchin discussed the incoming administration’s tax plans and announced the Mnuchin Rule–that “[a]ny reductions we have in upper-income taxes will be offset by less deductions so that there will be no absolute tax cut for the upper class.” EXCLUSIVE: […]
Vis New York Times Growth becomes the overriding motivation — something treasured for its own sake, not for anything it brings to the world. Facebook and Google can point to a greater utility that comes from being the central repository of all people, all information, but such market dominance has obvious drawbacks, and not just […]
A couple of weeks ago, the House passed a Tax Reform Budget Resolution. Today, the Senate will take a vote on its Tax Reform Budget Resolution. Once passed, the differences will need to be resolved by both legislative bodies. President Trump met with the Senate Committee which included 6 Democratic Senators of which 5 are […]
(Dan here…Stormy sends a reminder that the world has a real side as well…lifted from an e-mail)) Calling out the precursor to an Ecological Armageddon. Thought you might like to see this study—also written up in Guardian. Economists are totally irrelevant. Profit and money are their game….and that game is ending within our children’s lifetime. […]
A housing teaser Here is something I have been working on for the last month. As it happens, last week Kevin Drum posted some aspects of the same data. House prices have exceeded by a substantial margin median household income: But the monthly mortgage payments have not: This is because, while the prices of houses […]
A thought for Sunday: the Rule of Gerontocracy The US looks like government of, by, and for senior citizens. President Donald Trump just had his 72nd birthday. He assumed office at age 71, the oldest person ever to do so. In Congress, Senate Majority Leader Mitch McConnell is 75 years old. His Democratic counterpart, Charles […]
by Hale Stewart (originally published at Bonddad blog) Is This Why Wages Are Low? These are two graphs from a post over at the Center for Equitable Growth. The top chart shows that the relationship between unemployment and wage growth isn’t as strong as you’d think. Recent research highlighted by Fed President Bullard made the […]
The Incidence of the Obamacare Subsidies Justin Fishel and Mary Bruce covers Trump’s dismantling of Obamacare: The White House announced Thursday night that the administration will slash Obamacare subsidy payments to insurers. The “cost-sharing reduction payments,” worth an estimated $7 billion this year, are intended to reduce out-of-pocket costs for low-income Americans on Obamacare … […]
Enslaved to an Individualist View of Social Change I note with some interest the debate over whether it is ethically necessary to refer to slaveholders as “enslavers” in order to convey our disapproval over their actions. The obsessive use of the enslaving terminology in The Half Has Never Been Told (Baptist) bothered me at the […]