by Kenneth Thomas A look at tax havens by the Fortune 500 According to a new report today from Citizens for Tax Justice, the 285 members of the Fortune 500 that have parked money overseas would owe an estimated $433 billion in taxes if and when it is repatriated. No wonder these companies are working […]
Okay, thus far it’s just one major pundit, the Washington Post’s E.J. Dionne, whose column posted at 1:58 p.m. demolishes the media’s Conventional Wisdom of last night and this morning, which focused mainly on Romney’s two gaffes, and concluded that Obama had won but only barely. Binders-full-of-women is irresistible fun, but ultimately unimportant; Romney just […]
The most revealing moment last night came as Ann Romney walked toward her husband onstage at the end. That expression on her face. I thought she looked like a woman in a binder. It is, I suppose, poetic justice for Romney that an obviously misspoken phrase of that sort is the catch phrase from last […]
Of all the things being deconstructed regarding the debate last night, this is the one that stood out for me: QUESTION: The outsourcing of American jobs overseas has taken a toll on our economy. What plans do you have to put back and keep jobs here in the United States? Romney:…which will allow me as […]
Ashwin Parameswaran nails it once again. If you want to understand how the modern financial/monetary system actually works, run don’t walk to read this post. His key insight: Just as the East India Company could access cash on the back of their government bond holdings in the 18th century, any pension fund, insurer or bank […]
by Tom aka Rusty RustbeltThe Unemployment Tax DilemmaWhen the economy is doing well employers pay both state and federal (backup system) unemployment taxes. The rates tend to be reasonable and are levied only on a portion of wages. During recessions the employers who keep workers on are in effect penalized because all rates will likely […]
As a many-times business owner, I noted a couple of years back that in the ecosystem of publicly traded companies, there is nobody who thinks, acts, has incentives like, or is really anything like a real business owner. I’m pleased to find that Adam Smith agrees with me (emphasis mine): The trade of a joint […]
The Big C finally got rid of the inept hedge fund “manager” who finished destroying their franchise. Of course, maybe this time they will replace him with Timmeh, instead of just pretending they will so he swallows more and harder. Just in case Orszag isn’t enough. Still not buying, but I would seriously consider closing […]
Mike’s post here got me thinking. I’ll telegraph my conclusion. He dramatically understated his case. You can see the long range view of nominal and inflation adjusted GPD growth in Graph 1 of FRED quarterly YoY percent change data. Graph 1 YoY growth Nominal and Inflation Adjusted GDP Nominal GDP Growth was in a secular […]