Quick, think of the most egregious tax loophole you’d like to see closed. Many people, and not just lefties, will think of the carried interest loophole, where hedge fund managers get to pay capital gains rates (~24%) on their earnings (which would otherwise face the top marginal rate of ~40%). A fine choice, widely perceived… Read more
A commenter, after gazing at these figures, asks: how much influence do presidents really have over the economy anyway? I dove deeply into this here, riffing off of an academic paper comparing economic outcomes between terms when D’s or R’s controlled the White House. The economy grows faster under Democrats, which is good to know,… Read more
This is why we all need to read Dean Baker’s Beat the Press column. This alarm bell–“the old are ripping off the young!”–goes off all too frequently. The answer is not, as such histrionics imply, to do less for the elderly, most of whom depend on Social Security and Medicare (Dean also makes the point… Read more
If we want to avoid undermining Obamacare, it would be better to try to tweak the tax rather than repeal it. It’s got numerous attributes and, as I readily admit, some potential problems. But the most important thing it has going for it is that it’s on the books. Those who think they can join… Read more
That’s how Ben Spielberg and I see it, over at WaPo. The ACA is clearly boosting labor demand and jobs in the health sector itself, but you’d expect that. There’s no evidence it’s hurting employment growth elsewhere, either.