CBO’s bottom line is thus simple: tax revenues will rise faster than the economy even if Congress does nothing new. Indeed, revenues may rise faster than the economy even if Congress enacts substantial tax cuts. Our long-run fiscal dilemma exists because the scheduled growth in future spending is even larger than the scheduled growth in [...]
Matt Taibbi has another entertaining and informative article on financial reform:
The Sanders amendment, if it survives in conference, will lead to some delicious disclosures. Almost exactly a year ago, Sanders questioned Bernanke at a Senate-budget hearing, asking him to NAME the banks that had been bailed out by the Fed. Will you tell the [...]
Because their is no Europe! It’s popular to compare each country in Europe to states in the US, and for all the similarities, there are a host of important differences. There are a host of different languages, legal systems, and borders. Workers can’t move as freely between countries as we can between states. Even the [...]
Politicians and economists rail against business executives who profit off risky moves, collect big bonuses, and then leave the house to crumble on top of the next guy. One common solution is to have clawback provisions and other deffered compensation.
Reading this NYTimes article about how state governments are engaging in shady accounting to balance [...]
How far should we go to save people from themselves? From an atricle about UK alcoholism:
Politicians have proposed remedies ranging from minimum alcohol prices to bans on barroom promotions to wider use of shatterproof cups in places where broken pint glasses are frequently used as weapons.[Empahsis added]
via U.K. Reaches Its Limit on [...]
Now Thomas Friedman joins the “our government is broken and our our political parties represent the crazies” bandwagon.
That is why I want my own Tea Party. I want a Tea Party of the radical center.
Say what? I write often about innovation in energy and education. But I’ve come to realize that none of [...]
The anti-fun pro political correctness and using political power for enjoyment crowd strikes again:
[Gainesville] is getting ready to put the kibosh on ladies’ night specials and will be notifying the 115 bars and restaurants in the city limits in the next few days that they will no longer be able to give discounts based [...]
A historical parallel to the current level of division and outrage over health care:
“To find a prototype for the overheated reaction to the health care bill, you have to look a year before Medicare, to the Civil Rights Act of 1964. Both laws passed by similar majorities in Congress; the Civil Rights Act received [...]
Some ideas make you wonder what the creator was smoking when they came up with it. With this one, we pretty much know:
On Wednesday, the California secretary of state certified a November vote on a ballot measure that would legalize, tax and regulate marijuana, a plan that advocates say could raise $1.4 billion and [...]