Lifted from comments, Spencer England says: What Reagan managed to accomplish was to turn the US from the worlds largest creditor nation into the worlds largest debtor nation. Why don’t people see that the expanded deficit will reduce savings and expand the savings-investment gap which is equal to the current account deficit? So crowding-out works […]
Has Dean Baker Joined Team Republican? The dishonesty ab out the Trump tax cut for the rich from certain Republican leading conservatives are been extensively noted so let’s not go there. But why is Dean Baker writing this? There are two ways in which we can say that a deficit/debt is will hurt our children. The first […]
of His Constituents. Iowa Republican Senator Grassley came out publically stating he wants to eliminate the estate tax to help Iowan farmers stay on their family farms. In rebuttal, the Des Moines Register had this to say: Of the numbers of Iowans paying the estate tax, they can be quantified in the dozens each year. […]
The Great Awokening There’s a theory about the sins and shortcomings of society: they are all due to our failures of consciousness. If people were purer, given to understanding and following the true path, the problems of this world would cease to exist. According to this view, poverty and inequality are the result of greed, […]
(Dan here…lifted from an e-mail) I’m not registered with seeking alpha so I cannot read the whole article (I had sent), but what I read looks a lot like what I’ve written over the years. Here are some statements which, working off memory, I have written posts about and which I think are supported by […]
Flynn Bails, but Don’t Get Your Hopes Up I haven’t seen anything yet to convince me that the Putin-Trump collaboration was a big deal. Ugly and unprincipled, sure, but politically consequential, probably not. A contrary view, expressed by Harry Litman in today’s New York Times, is that this is the beginning of the end for the […]
https://www.nytimes.com/2017/12/01/business/economy/tax-plan-economists.html?_r=0 Douglas Holz-Eakin balanced with Kimberly A. Clausing in the NYT. Link in the picture. To think that looting could be so calmly described with ballance.
I will ease the pain from this early morning (when GOP senate slashed corporate taxes) by escaping into fantasy, I mean theory, but I repeat myself. A key theoretical argument about taxing profits (due to Diamond and Mirrlees I think) is that the tax can be very very high if firms maximize profits, because maximizing […]
by Hale Stewart (originally published at Bonddad blog) Where’s Waldo, er, I Mean Inflation? Just a quick note: according to the 3, 6 and 12 month moving average of Y/Y percentage change in total and core PCE price indexes, there is little to no inflation to worry about.
by Biagio Bossone (Biagio BOSSONE is an Italian national, currently advises international financial organizations on financial sector development issues and technical assistance programs in several countries in Africa, Asia and the Pacific, Latin America, and Northern Africa and the Middle East. He is a consultant to private-sector organizations. He has taught at various universities in Italy.) (Warning…wonkish) […]