Posts filed under “Taxes and Policy”
Last night, I made a rare airport run. Our niece from Chicago is visiting for the long weekend, and rather than send a car, we fought through both U.S. Open and Mets traffic to pick her up at LaGuardia Airport.
Regular readers know my views of U.S. airports in general and LaGuardia in particular. Despite the occasional spectacular views, it is on my list of worst U.S. airports, second only to John F. Kennedy International Airport.
It’s as if we forgot what routine government spending was supposed to accomplish.
In general, American air travel is terribly annoying. Anytime someone we know comes thorough either airport, the conversation invariably touches on the sad state of U.S. infrastructure. Vice President Joe Biden compared LaGuardia to a third-world country. There are improvements coming, but it has been ever-so slow.
It’s a tired but true litany: crumbling bridges and roads; how little the U.S. spends on infrastructure compared with other industrialized nations; the list of states’ unmet infrastructure needs; the opportunity to make needed long-term repairs and improvements while financing costs are so cheap.
The jury is out as to how much of the Burger King-Tim Horton merger is driven by the desire for tax savings. So far, the range seems to be modestly to not very much. The Los Angeles Times noted “Burger King’s overall effective tax rate in 2013 was 27.5%, according to its annual report. Tim…Read More
Fueling Road Spending with Federal Stimulus Sylvain Leduc and Dan Wilson FRBSF Economic Letter 2014-25 August 25, 2014 Highway spending in the United States between 2008 and 2011 was flat, despite the serious need for improvements and the big boost to state highway funds from the Recovery Act of 2009. A…Read More
Standard & Poor’s: Runaway Inequality Dampens GDP Growth, Leads to Boom/Bust Cycles and Discourages Trade, Investment and Hiring Inequality Also Dampens Social Mobility, Increases Political Pressure and Produces a Less Competitive Workforce Standard & Poor’s released a report on inequality today, concluding: Higher levels of income inequality increase political pressures, discouraging trade, investment, and hiring. Keynes…Read More
In sports, all great competitors know that they have a choice, even when confronted with daunting, insurmountable odds. They can lay down and let the larger, stronger opponent run up the score. Or they can find a way to compete, to make a game of it. A good loss is a dignified way to show…Read More
So you’re the world’s greatest trader®? Taxes will fix that. Barry Ritholtz Washington Post, July 27 2014 Imagine the following: You, the investor, believe you have an uncanny skill at picking stocks. You set up an online trading account and begin to buy and sell. As it turns out, you are quite good….Read More