taxes

Only in Germany and Turkey did tax revenue rise as a percent of GDP last year amongst the twelve countries in the Economist's graphic below. This is testimony to how deep the global downturn was. While it is unclear whether this graphic…

A summary of the new tax law provisions was posted at the GEI News Blog as the law was being signed by the president Friday.  The outline was presented courtesy of the FPA  (Financial Planning Association).  The economic impact of the new…

by Michael Hudson Interview with Michael Hudson, Eleftherotypia, Sunday December 12, 2010. 1. A recent article of yours, “Schemes of the Rich and Greedy,” cites the bailouts in Europe among such schemes. What are the main faults with…

by L. Randall Wray One of the things I really like about the President's compromise on the tax bill is a temporary payroll tax “holiday”—something I have long advocated along with others such as Jamie Galbraith and Warren Mosler. The…

Paul O'Neill disputes claims by George W. Bush in his book that O'Neill never advised Bush against cutting taxes as he did twice early in his term after the Internet and Technology bubble crashed. O'Neill also says that the "day of…

by Marc Chandler A new factor has arisen that complicates the Federal Reserve’s task as it prepares for its last meeting of the year. The broad outlines of the agreement between President Obama and the Republican leadership on fiscal…

by William K. Black You know the administration is desperate when it creates a web page citing economists who support its capitulation on taxes. The web page cites the support of five economists. Peter Cardillo, the Bank of America, Greg…

The deal between President Obama and the Republican congressional leadership is not likely to have a significant positive effect on an economy facing severe headwinds pulling in a negative direction. The key fact to remember is that we are…

I wrote a post about six months ago called "Misunderstanding Modern Monetary Theory" on deficits and resource allocation that I was re-reading. I wanted to add some off-the-cuff comments that might be relevant to today's…

This is another little animated story on Greece that takes a rather cynical view of the politics and economy - a bit of gallows humor, really.