Laurence Kotlikoff has a post in Bloomberg opinion section on the current status of the Social Security. This is lifted from Dale Coberly’s note back to him: Your analysis that SS is desperately broke ignores the fact that the projected shortfall can be made up by raising the payroll tax one half of one tenth […]
Note to Laurence Kotlikoff on Social Security
Euro Area Imbalances Are a Symptom of the Broader Global Imbalances
by Rebecca Wilder Euro Area Imbalances Are a Symptom of the Broader Global Imbalances Every year I travel to Germany to visit my in-laws, which is where I am now. Given the extra time on my hands, I’ve now mulled over a June 2012 NY Times opinion piece by Gunnar Beck. Beck displays an interesting […]
What’s Romney Got to Hide? (Part III)
by Linda Beale What’s Romney Got to Hide? (Part III) In the last two posts, I explored a number of fairly simple questions that might be raised about Romney’s activities that would be clarified by seeing multiple returns (hobby versus investment/business losses; business versus passive activity losses; amounts of preferentially taxed income; income reported from […]
U.S. Trails at Least 15 OECD Countries in Median Wealth
by Kenneth Thomas U.S. Trails at Least 15 OECD Countries in Median Wealth Via @exiledonline, I learned today (July 18) that Canadians are richer than Americans. This is rather surprising, since GDP per capita is higher in the U.S than in Canada.: $48,100 vs. $40,300 (at purchasing power parity or PPP), according to the CIA World […]
About Ann Romney’s—And Other MS Victims’—Darkest Hour (those who have healthcare insurance, those who have very high deductibles, and those who may lose their jobs and be unable to get new healthcare insurance. Or a dressage horse.)
The DNC has apologized for using Ann Romney’s London Olympics-bound horse in an attack targeting her husband. The Hill explains that Democrats had used the dressage horse to illustrate its claim that the presumptive GOP nominee was “dancing around the issue” of his decision not to release his tax returns. (Dressage is a dance-like sport, but […]
Romney’s Elusive Report on Foreign Bank and Financial Accounts for 2010
Um. Who knew?
Crony Capitalism And Its Variety Of Flavors
I can’t help but think that Romney’s newly invigorated crony-capital (e.g., Solyndra) schtick is very much a double-edged sword for him. I mean, isn’t he the candidate who, notwithstanding his claimed concern about the federal deficit, refuses to support the proposed elimination of the federal government’s subsidies to the oil and gas industry, and who […]
Ernst and Young, Make-Up Artist*
A key but seriously underemphasized factor in the near-collapse of the financial system and economy in 2008 was the role that the two largest securities-ratings firms, Moody’s and Standard and Poors, played: The two agencies routinely and deliberately overrated the value of mortgage-backed securities. So I was momentarily (and naively) stunned to read this morning […]
What’s Romney Got to Hide? It’s past time for financial and tax transparency
by Linda Beale What’s Romney Got to Hide? It’s past time for financial and tax transparency As everybody who has followed anything about this election cycle knows, Mitt Romney–likely the wealthiest man to run for president, the only bankster/private equity fund founder (sole shareholder, CEO and manager) to run for president, and probably the only […]