Economy

Source: New York TimesThe TIME Annual Top 100 list is always somewhat controversial. This year, members of the media questioned the magazine for leaving out Oprah Winfrey, black athletes, and John Stewart. The most important news from the partially reader-selected list announced last week wasn...
04/19/2012
Blog
What irony! This is the week when President Obama captured headlines and prime television coverage by assembling his team in the Rose Garden and finally employing the bully pulpit against speculation in the oil markets. He demanded action to curb the clear impact of rampant speculative trading...
04/19/2012
Blog
Well, maybe I was wrong when I said there was almost nothing the President could do to impact gas prices. Yesterday, President Obama released a set of proposals to limit oil speculation. We’ve detailed here, here, and here how Wall Street speculation on oil raises its price because it...
04/18/2012
Blog
1. The government has collected less in taxes as a proportion of the economy in the past three years than it has in any three-year period since World War II, and tax rates are at historic lows. 2. One out of three multi-millionaires pays a lower percentage of their...
04/16/2012
Blog
The Chicago Tribune reported yesterday that Senator Dick Durbin of Illinois has been holding hearings on the Fairness for Struggling Students Act, which would allow student loan debt from private lenders to be forgiven during bankruptcy proceedings. It's not hard to get why this legislation is a...
04/13/2012
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There is no shortage of alarmism when it comes to corporate taxes. Earlier this year, Mitt Romney said that the U.S. tax code “looks like it was devised by our worst enemy to tie us in knots.” A more recent memo drafted by the Senate Republican Caucus claimed that...
04/13/2012
Blog
By now it's pretty clear that Mitt Romney's recent claim about female job losses during the Obama presidency has more to do with selective number fudging and electoral pandering than factual accuracy. As Catherine Rampell reports in yesterday's New York Times, male-dominated sectors like...
04/12/2012
Blog
The “Buffett Rule” proposed by President Obama and now being considered by the Senate would be an important symbolic step toward a fairer tax system. By instituting a minimum tax on very high earners, it would advance the principle of progressive taxation and reform the tax code in an...
04/12/2012
Blog
As the White House mounts a major campaign to sell the “Buffett Tax” this week, there is another, better tax on the 1 percent that Washington should be considering: A financial-transaction tax—better known as a financial speculation tax (FST). A financial-speculation tax has been...
04/11/2012
Blog
“Tax fairness” is defined very differently by Americans from various walks of life. Despite this divide, there is a substantial shared vision: a majority of Americans believe that the government should be doing more to help people, and the vast majority believe that wealthier...
04/10/2012
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