Posts filed under “Taxes and Policy”

Our Self-Inflicted Economic Wounds

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 what you are made of, that you have grit, attitude and brass, and you aren’t to be trifled with, even in defeat

The financial crisis delivered a significant blow to the economic well-being of the U. S,, indeed, the world. There were two responses to this challenge, one of a great competitor, and one of a pathetic loser. The response to the threat of overwhelming defeat is instructive, not only for its policy implications, but for how we as individuals should respond challenges that seem hopeless.

Consider the policy makers of the Federal Reserve, terrified as they were of the entire system collapsing. Regardless of your views of the impact of the Fed — and I was an early critic — one must grudgingly admire they’re determined and innovative responses. Consider not what they did but their attitude and creativity when confronted with what appeared to be an insurmountable challenge: They stepped up their game big time. If they were going to lose this battle, they were going to go down fighting.

They threw away the rule book. The new liquidity facilities were certainly never envisioned 100 years ago on Jekyll Island, where the Fed was born. But that didn’t stop them.

There are no mercy rules in economics. The Fed knew this, and rather than let the clock run out — a few decades of indecisive dithering probably would allow the excesses to be wrung out eventually — took a bold stand.   Continues here

 

 

 

 

Category: Investing, Really, really bad calls, Taxes and Policy

Inversion of the Money Snatchers

The Daily ShowGet More: Daily Show Full Episodes,Indecision Political Humor,The Daily Show on Facebook 7/30/14 – (8:55)

Category: Corporate Management, Crony Capitalists, Taxes and Policy, Television

What if You Were the World’s Greatest Trader® ?

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

Category: Apprenticed Investor, Investing, Taxes and Policy

Taxing Top Earners: A Human Capital Perspective

Category: Taxes and Policy, Think Tank

What if You Were the World’s Greatest Trader® ?

>   My Sunday Washington Post business section column is out. This morning, we look at the impact of taxes on personal trading accounts. The print version used the headline A harsh reality for all you stellar active traders; the online version is So you’re the world’s greatest trader? Taxes will fix that. The bottom line…Read More

Category: Investing, Taxes and Policy

The Global Retirement Dilemma

Source: Bloomberg Visual Data

Category: Taxes and Policy

How Fat is the Top Tail of the Wealth Distribution?

Category: Taxes and Policy, Think Tank, Wages & Income

Scotus / Potus Fail

Source: Gallup   Last month, we noted how Congress reached a record low in confidence from the American people. (I blamed you, the non-voting public for allowing the inmates to take over the asylum and turning this into the worst. congress. ever.) As it turns out, it’s not just Congress: Confidence hit a six-year low…Read More

Category: Legal, Taxes and Policy

Freeriding Corporations Need to Pay their Fair Share

Allan Sloan, editor-at-large for Fortune magazine, is angry. And with good reason: He is upset at a lot of U.S. corporate executives who are engaging in “inversion.” This is the process of moving the location of incorporation to a tax haven and skipping out on paying U.S. taxes (short list here). Even though the company…Read More

Category: Corporate Management, Taxes and Policy

Corporate America = UnAmerican

Today’s must read comes to us from Fortune, where editor at large Allan Sloane rails against “Positively un-American tax dodges.” Its your must read for today.     Let’s see if the our elected representatives can manage to stop behaving like 10 year olds long enough to resolve this.  

Category: Corporate Management, Economy, Really, really bad calls, Taxes and Policy