by Linda Beale Levin proposed carried interest bill (HR 4016) Sander Levin has proposed H.R. 4016, which would characterize allocation of partnership profits in respect of a “profits interest” received for services–i.e., carried interest compensation– of investment fund managers as ordinary income subject to employment taxes rather than allowing it to be treated as a […]
An article in yesterday’s New York Times, which I think deserves much more notice than it seems to be getting, says that last week, “Mr. Romney’s campaign held an elaborate “policy round table” fund-raiser at a Washington hotel, featuring panel discussions run by lobbyists [who are] former cabinet officials or members of Congress.” Today in the Detroit […]
What if Eisenhower’s budget were your (grandparents’) family’s? What if Kennedy’s were? How about LBJ’s? Nixon’s? What if Reagan’s were your parents’ or your own family’s? How about G.H.W. Bush’s? Clinton’s? G.W. Bush’s? One of my pet peeves is the use by political reporters and pundits of sophistic or downright imbecilic supposed analogies. (Like last […]
I just came across a fellow internet econocrank’s tax proposal, and find it quite interesting — especially its proposed progressive tax on net worth, which echoes the flat tax on financial assets that I’ve bruited. It also reflects many of the notions I suggested I’d implement if I was the Dictator of America.The basic problem […]
by Linda Beale U.S. Chamber and corporations fighting for low preferential capital gains rates A coalition of the U.S. Chamber of Commerce and large multinational corporations such as Altria Group Inc. and Excel Energy Inc. is trying to pressure Congress to retain the extraordinarily low current tax rates on unearned income that will expire at […]
Tim Duy body-slams St. Louis FRB President James Bullard: Estimates of potential GDP are not simple extrapolations of actual GDP from the peak of the last business cycles. They are estimates of the maximum sustainable output given fully employed resources. The backbone of the CBO’s estimates is a Solow Growth model. So I don’t think […]
Bruce Wilder had an excellent comment recently in the Crooked Timber thread on markets, economic rents, and the constraints on economic actors, excerpted by Dan here, and more with comments by Jazzbumpah here. (If you like the thinking there, run don’t walk to read this windyanabasis post and comments.) The emphasis on constraints prompts me […]
by Linda Beale The 1% are the only beneficiaries of Greek austerity, not ordinary Greeks An interesting post over on Naked Capitalism on the Greek austerity measures being demanded by the EU leaders (Germany, mostly) and the IMF: Marshal Auerback: Greece and the Rape by the Rentiers (Feb. 10, 2012). The austerity demands, in order […]
by Mike Kimel Rent Control, Redux There’s been a small dustup on rent control lately on the blogosphere. Peter Dorman has been pointing out that the theory everyone knows may not fit the facts. I myself covered the topic before here. Its worth a read, I think, but here’s the takeaway Now, I haven’t been […]