Summary: The fiscal cliff dominates the news. What will happen if we fall off it. How we can avoid it, preferably by easy painless solutions. Here we peel back the consensus wisdom to see what lies beneath. We’ll look at the cliff from different perspectives. . Contents It’s not important It’s important About the GOP …
Summary: Three of the most significant changes in America’s social and economic structure since the Reagan Revolution in 1980 are slowing GDP growth, the rising federal deficits and the great increase of inequality in wealth and income. Increasing taxes on the wealth might help reverse two or even all three of these trends. Today’s post …
Jared Bernstein examines the economic impact of raising taxes on high-income households Read More »
Summary: Mike Lofgren provides more analysis of the Republican Party’s obsessions with reducing taxes on the rich and massive military spending — paid for by massive sustained borrowing. The last period of balanced budget (at least on a cash accounting basis) under President Clinton fades into history, as the GOP leads us towards the post-Constitutional era. …
Why Republicans Need Remedial Math: Their Budget Plans Explode the Deficit Read More »
Summary:   Brad DeLong often nominates people for the “stupidest man alive” award (e.g., here). Here is a new nominee. The underlying issue is important and little-known: the US has a flat tax system, with the rich and poor paying taxes at the same percent of income. Second Quarter 2010 Investor Letter, Daniel S. Loeb, Third Point Partners LP, …
A pity party for America’s rich and powerful Read More »
Summary: More evidence that I’m wrong, that greater public participation will not by itself benefit America. Decades of learned ignorance (aka intense propaganda) have left us too ignorant. We’re living in dreamland. Only a crash will restore our awareness of the real world. China’s leaders probably read such articles and smile (or laugh). Fascinating but …
