Post Tagged with: "taxes"
Mosler: The Speech that President Obama Should Make
Warren Mosler has three proposals specifically designed to get sales up to make sure business has a good paying job for anyone willing and able to work. He arguess that’s good for businesses and all the people who work for them and says these proposals are bipartisan. His view is that they are supported by Americans ranging from Tea Party supporters to the Progressive left, and everyone in between
IOUs Denominated in National Currency
On a floating exchange rate, the government’s own IOUs—currency—are nonconvertible in the sense that the government makes no promise to convert them to precious metal, to foreign currency, or to anything else. Instead, it promises only to accept its own IOUs in payments made to itself (mostly, tax payments, but also payments of fees and fines). This is the necessary and fundamental promise made: the issuer of an IOU must accept that IOU in payment. So long as government agrees to accept its own IOUs in tax payments, the government’s IOUs will be in demand (at least for tax payments, and probably for other uses as well)
Why Made in China Costs More in China
Chinese goods cost more in China because of currency, taxes, transportation,logistics and inflation. The Chinese get the jobs, while Americans get the consumer products; The Chinese government gets the dollar, but the U.S government gets to spend the dollar! The Chinese like to say: the Americans get a better deal!
Workers of the world, good night!
Rick Bookstaber argues that the rise of the super-elite is not a product of educational differences, but rather a result of the new capitalism which creates bigger winners, and does so much more quickly than in the capital-intensive capitalist era. Less capital is needed, it is applied for a shorter period before the results are realized, and because less capital is required, the entrepreneur captures more of the value of the enterprise. The result is an accentuation in the very wealthy
France: wealthiest ask government for special tax on the super-rich
This is a temporary tax proposal to demonstrate solidarity in tough times. It reminds me of the solidarity tax Germans paid to deal with their reunification
The Gold Standard and Fiat Currency: Metalism vs. Nominalism, Part One
“Taxes drive money”—these “money things” are accepted because there are taxes “backing them up”, not because they have embodied gold. As promised, this week I will begin try to dispel the view that coins used to be commodity monies
On the State and Local Budget Crisis
By Michael Hudson The State and Local Budget Crisis The cost of the 2011 cutbacks in federal spending will fall most directly on consumers and retirees by scaling back Social Security, Medicare, Medicaid and social spending programs. The population also will suffer indirectly, by lower federal revenue sharing with U.S. states and cities. The following
Jon Stewart on Warren Buffett and the Class Warfare meme
Jon Stewart has noticed that Fox News is selling viewers on the view that ‘socialists’ like Warren Buffet and Barack Obama are engaged in class warfare. He presents an amusing view; take a look
Who said this: Obama or Hoover?
This is a brief follow-up to my post yesterday proclaiming that this is looking more like Hoover every day. Credit Writedowns reader Greg came across the statement below. Who said it, Herbert Hoover or Barack Obama
Charlie Rose: An Hour with Warren Buffett
On Monday, Warren Buffett wrote a widely-discussed New York Times opinion piece, “Stop Coddling the Super-Rich” about taxes in America. I think his subsequent appearance on the Charlie Rose show was really good at explaining his views and creating a meaningful dialogue on the issues of taxes and inequality. Video below
Policy Conclusions for Russia (Part 2)
Can Russia get the best of both worlds by freeing its economy from technologically unnecessary charges and rentier tolls paid to special interests? Such expenditures prevent the economy from developing. That is the basic cause of poverty – and hence of national decline. Now that neoliberal financial lobbyists have turned Progressive Era economic reforms upside down, it is necessary to “reform the reformers” in order for Russia to rebuild its economy in the way that made the U.S. and Western Europe so successful during their economic takeoffs
Debt Ceiling Deal: All cuts, no taxes
Unfortunately for President Obama, the economy is not doing well. And the cuts envisaged in this deal make that problem worse. From an electoral standpoint this is already becoming a problem in key swing states like Pennsylvania