There is a lot of discussion today and yesterday about Apple’s avoidance of the corporate income tax. As the WSJ reports on Senate Democrats investigation of Apple, Mr. Levin unveiled the results of his months-long investigation into Apple’s corporate taxes and accused the American business success of employing “alchemy” and “gimmickry” to lower its tax […]
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With public opinion polls low for Congress (independent of which party is in power) and support for the President seemingly at his base level, no real substantive work being done, and the only progress at all on our national debt is an approach that the President insisted on and now says is the worst way […]
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At least that is what this new report says. The government has more low-paying jobs than Wal-Mart and McDonalds combined. While one has to smile at the obvious inconsistency–President Obama wants to mandate increased wages on the private sector while in effect he has the most low-paid workers in the country–the presuppositions in the report […]
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Minimum Wage legislation, should we abolish it?
10 May 2013
This is subject of a recent debate featuring Libertarian’s Russ Roberts and Jim Dorn as well as Progressive’s Jared Bernstein and Karen Kornbluh. Unfortunately, the audience voted with Mr. Bernstein that we should keep the minimum wage. If you take the time to listen to the debate, you’ll find some rather startling admissions by […]
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PIMCO’s Bill Gross came out swinging today against European austerity today, this after reports that Reinhart and Rogoff’s well-regarded work on debt had some statistical errors on the danger of debt. So today Mr. Gross told the FT, “The U.K. and almost all of Europe have erred in terms of believing that austerity, fiscal austerity […]
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Concern over Global Warming is on the rise, while global temperature rise has abated. Why?
17 Apr 2013
Unfortunately I don’t have a good answer. But I think our understanding of political economy has to include a realization that there is often a disconnect between what we might consider the facts and what is reflected in public opinion and therefore turned into public policy. For example, why do so many Americans support an […]
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President Obama’s 2014 Budget: To what end?
10 Apr 2013
As promised, President Obama unveiled his 2014 budget today, albeit 2 months late. We discussed some of the proposed outlines on Monday, which you can find here. But in his public comments as reported by CNBC, Mr. Obama continues an approach which can only divide, not unify. Whether this is by design is only a […]
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Rather than a single subject today, I’d like to offer some quick thoughts on several recent economic events and get your feedback on what you’d like to hear more about. Post in the comments if you’d like more details. First up, we are told we will finally have a budget submitted by the President this […]
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According to The Weekly Standard, President Obama attended Easter services at St. John’s Episcopal Church in Washington, D.C. yesterday, where the pool reporter recorded this tirade against fictional religious right leaders. “It drives me crazy when the captains of the religious right are always calling us back … for blacks to be back in the back […]
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Our national debt is $16.75T, our unfunded liabilities are ~ $120T, and President Obama says we have no debt crisis. In a post last week on the national debt and deficits, I promised we’d discuss the morality of passing the debt burden on to our grand-kids. As is often the case, our moral senses are […]
Bert Wheeler
Jeff Haymond
Marc Clauson
Mark Caleb Smith
Tom Mach