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.
Let me paraphrase that title a bit: why are they so forthcoming about it in the midst of an anti-establishment election? Read this useful NYT review of the depth of the R candidates tax-cut proposals. The tax plans of the Republican presidential candidates would cut federal revenues as much as $12 trillion over a decade,… Read more