Testified yesterday before the Joint Economic Committee–here’s my full write up. Here are my main findings: Fairness, simplicity, and revenue raising are often complementary: by closing regressive loopholes in the tax code, we reduce incentives to game the system, eliminate wasteful tax breaks that exacerbate inequality without promoting growth, and raise more revenues. Based on… Read more
1) Our duct-taped tax code This WaPo editorial provides a clear and efficient explanation of the inversion problem, where a US company basically moves its tax mailbox, as opposed to its operations, to a low-tax country. The ed board argues that the villain here is neither the Obama administration’s Treasury Dept nor the companies. The… Read more
OK, it’s official: my mind is blown by two new, smart, common sense, progressive initiatives that the Obama administration–with great input from Treasury and the Labor Dept.–has managed to implement this week. Each deserves, and will get, individual attention and explanation from me. But for now, let us marvel at what’s happened here, especially as… Read more
Contemporary economics is often criticized for being too mathematical. How can we really capture the complex dynamics of what’s happening in people’s economic lives with a bunch of formulas? In fact, the point of all the math is to distill people’s complex experiences down to something we can model, understand, measure, and maybe predict. Yes,… Read more
Rep. Paul Ryan would rather you not see the distributional implications of his and his fellow Rs’ tax plans. I can see why he’d think that, but he said it. Over at WaPo.