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 […]

Is Bitcoin A Speculative Bubble?  There are at least two definitions of a speculative bubble.  The first, and most widely accepted, is that it involves a price of an asset that rises substantially above its fundamental and then falls back towards that fundamental.  The other, not necessarily all that clearly distinguishable from the former, involves […]

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.

(Dan here…reposted from an earlier analysis,) by Linda Beale 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 […]

Bruce Bartlett: “Prediction–EVERY Republican senator will whore himself or herself to pass this tax monstrosity. They should all go to Hell.” Bruce Bartlett: “Prediction–Democrats will stay home on Election Day 2018 because that’s what they always do best(last word is mine)” Predictions

AARP notes a planned reduction in Medicare funding.  I have not hear much from them as in times past. If you read through the umpteen pages of the Senate tax bill, you won’t find a clause that says it dramatically cuts Medicare spending. But the effect of the legislation being debated this week would be […]

Brian Down from Focus Economics was looking for a response on cryptocurrencies…could make an interesting thread! I’m emailing you today because I am putting together a piece on cryptocurrencies and it would be great to get a comment from you on the subject. While some believe that cryptocurrencies are the future, the prevailing view appears […]

Must read A modest proposal: time to rethink the impact of US tax reform Jason Furman &Lawrence Summers