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

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 […]