Relevant and even prescient commentary on news, politics and the economy.

I’m a Little Worried… …about Kevin Drum, aka CalPundit, who seems uncharacteristically out of sorts today. What’s bringing him down? A laundry list of things gone bad, and he doesn’t even mention “massive deficits as far as the eye can see” or inane new abortion restrictions. Things would probably not seem so grim to him […]

How Silly is the Times? In my last post, I mentioned that the NYT story has a graphic showing the savings for various income leves, incuding for a family making $41,000 in household income per year. The tax savings in that graphic assumed that the $41,000 in income family had $500/year each in dividend and […]

More Wall Street Journal (and the NYT) As it turns out if you want actual information, non-distorted even, about the likely-to-pass tax cut proposal, you have to go to the Wall Street Journal. All of the following are on Page 1, above the fold: Bush’s Tax Cut: Victory–at a Cost Bill marked by gimmicks marches […]

Thanks to MB (of Wampum) For coming up with the It’s Still the Economy Team Blog idea. Thursday, in Salon, Joe Conason had this to say: An excellent blog aptly named “It’s Still the Economy, Stupid” provides graphic illustrations of how the GOP “jobs” tax cut will be maldistributed — and the record number of […]

Dammit Blogger is really doing a number on my hit count. Even on my T1 line at work, over the last three days, my odds of successfully opening my blog are around 33%. Same goes for trying to open Atrios. Maybe it’s the Amazon links? That last part was a joke, but I commented them […]

Teasers on the Front Page of [even the conservative] Wall Street Journal P.1: Congress Nears Deal to Cut Taxes by $350 Billion: In Bush Victory, Accord Reduces Rates on Dividends; Top-Bracket Relief Survives P. A2: Congress is at risk of passing the Great Tax Shelter Act P. A4: Bush is losing on the tax issue […]

Crazy Headlines No, it’s not a bit from Jay Leno, it’s today’s NYT: “$318 Billion Deal Is Set in Congress for Cutting Taxes“. From the story [emphases mine]: The measure would reduce the tax rate on capital gains and dividends to 15 percent for most taxpayers for five years, and then reinstate the higher existing […]

More Sid and Hannity Salon’s David Talbot interviews Sidney Blumenthal. Earlier, I remarked with some surprise that Hannity gave Sid a fair and balanced hearing on his show. (Contrast this to the SCLM’s treatment of late–see the Daily Howler, 5/18, 5/19, 5/20, and 5/21). In any event, here’s Sidney recounting his time on Hannity’s show: […]

Regressive Tax Cuts I found some numbers at ArgMax that are taken from a Brookings report on the distribution of savings from the Senate’s version of the tax cut, and figured I’d make a nice picture (click to enlarge): The picture somewhat exaggerates the top-heaviness of the benefits because the bins widen as you move […]

Latest Missive from Nigeria This one contained a small math error (maybe they should join Stephen Moore’s Club for Growth) that presents me with an opportunity to make an extra $3 million: Regarding the allocation of money you describe, which I quote here: (1) 18% for you as the account owner(2) 62% for I and […]