And higher income taxes for individuals is the answer?
A cynical look at our financial markets and the governments that support them
And higher income taxes for individuals is the answer?
Comments Off on Permanent Decline in Real Wages
– December 26, 2012
Posted in Politics.
Comments Off on Create Your Own Adventure
– December 17, 2012
Energy to spare: America is on track to produce all the energy it needs at home – Economist
DRILLING DOWN: Documents: Leaked Industry E-Mails and Reports – NY Times
Why Workers Are Losing the War Against Machines – The Atlantic
Federal Reserve to target inflation rate of 2.5% until unemployment is below 6.5% – Federal Reserve
Fed Seen Pumping Up Assets to $4 Trillion in New Buying – Bloomberg
Pimco’s Gross Says Fed Policy Means ‘Free’ Debt for Treasury – Bloomberg
Jobs, Productivity and the Great Decoupling – NY Times
Big Money Bets on a Housing Rebound – NY Times
Asia Stocks Set for Longest Winning Streak in Three Years – Bloomberg
How Far Would You Fall Down The Fiscal Cliff? – Slate
French in Denial as Crisis Deepens – Der Spiegel
The G.O.P.’s Existential Crisis – NY Times (Krugman)
Google’s tax avoidance is called ‘capitalism’, says chairman Eric Schmidt – Telegraph
Outrageous HSBC Settlement Proves the Drug War is a Joke – Rolling Stone (Taibbi)
Posted in Economics, Markets, Media, Politics.
Comments Off on Noteworthy News – December 17, 2012
– December 16, 2012
“Based on data from the Congressional Research Service, cumulative spending on means-tested federal welfare programs, if converted into cash, would equal $167.65 per day per household living below the poverty level,” writes the minority side of the Senate Budget Committee. “By comparison, the median household income in 2011 of $50,054 equals $137.13 per day. Additionally, spending on federal welfare benefits, if converted into cash payments, equals enough to provide $30.60 per hour, 40 hours per week, to each household living below poverty. The median household hourly wage is $25.03. After accounting for federal taxes, the median hourly wage drops to between $21.50 and $23.45, depending on a household’s deductions and filing status. State and local taxes further reduce the median household’s hourly earnings. By contrast, welfare benefits are not taxed”
Source: TheWeeklyStandard
History only repeats itself:
A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world’s greatest civilizations has been 200 years. These nations have progressed through this sequence: from bondage to spiritual faith; from spiritual faith to great courage; from courage to liberty; from liberty to abundance; from abundance to selfishness; from selfishness to complacency; from complacency to apathy; from apathy to dependency; from dependency back again to bondage.”– Sir Alex Fraser Tyler (1742-1813) Scottish jurist and historian
Posted in Politics.
Comments Off on Welfare Benefits Greater than Median Income
– December 10, 2012
73% of New Jobs Created in Last 5 Months Are in Government – CNSNews
Japan’s Fear of Risk Is Getting Dangerous – Businessweek
Plenty of Manufacturing Jobs, but Too Few Applicants – CNBC
Why Apple Got a ‘Made in U.S.A.’ Bug – NY Times
Jobless Rate Edges Down to Its Lowest Level in 4 Years – NY Times
The Forgotten Millions – NY Times
Japan revised GDP signals economy in recession – Reuters
World risks fresh credit bubble, Switzerland’s BIS warns – Telegraph
Markets’ calm fiscal cliff facade may be fading – USA Today
Peter Schiff: The Fantasy of a 91% Top Income Tax Rate – Wall Street Journal
In Obama’s Plan to Tax Rich, $250,000 Figure May Mislead – NY Times
A Look at Taxing Marijuana – NY Times
How Medicare Is Misrepresented – NY times
Peter Schiff: The Fantasy of a 91% Top Income Tax Rate – Wall Street Journal
Wall Street’s Job Cuts Keep Getting Bigger, Expect Worse Next Year – Forbes
Posted in Markets, Media, Politics.
Comments Off on Noteworthy News – December 10, 2012
– December 9, 2012