Category Archives: Taxation

The Great Correction

Most Americans are at least apprehensive, and many of us are terrified, by the prospect of the upcoming Donald Trump presidency. These fears are justified. People who voted for him did so despite his lack of experience or leadership skills, … Continue reading

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The Terrifying Truth About Politics

The preceding post began with a little-noticed quotation from Hillary Clinton’s acceptance speech at the Democratic convention: “I believe that our economy isn’t working the way it should because our democracy isn’t working the way it should.” We saw in … Continue reading

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The Trickle-Down Nightmare

In my retirement, I have devoted myself to the investigation of income and wealth inequality, and in the process acquired a distributional perspective on how modern market economies actually work. When I began this project, I soon realized that it … Continue reading

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Postscript: What We Must Do

Wisdom is a strange commodity. Most of the time we don’t recognize it when it infiltrates our addled brains, and it is always hard-won and a long time coming. Yesterday’s post “Krugman v. Stiglitz — Debt v. Taxation” deserves this postscript, for having … Continue reading

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Krugman v. Stiglitz — Debt v. Taxation

I have noted before that two of America’s best-known economists, Paul Krugman and Joseph Stiglitz, both Nobel Prize winners, are in extreme disagreement on the causes and implications of and remedies for, America’s inequality crisis. Both are politically progressive, but … Continue reading

Posted in - FEATURED POSTS -, - MOST RECENT POSTS -, Econ 101, Economics, Federal Budget and Spending, Federal Debt, Taxation, Wealth and Income Inequality | Leave a comment

Inequality, and the Next Crash

Every day articles appear in news media that remind me of the consequences of income and wealth concentration at the top. A front-page article in today’s (6/8/15) New York Times, for example, is entitled: “States Confront Wide Budget Gaps Even … Continue reading

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Saez and Zucman: Telling the Truth About Wealth Inequality

It was high in the beginning of the twentieth century, fell from 1929 to 1978, and has continuously increased since then. The rise of wealth inequality is almost entirely due to the rise of the top 0.1% wealth share, from … Continue reading

Posted in - FEATURED POSTS -, Economics, Taxation, Uncategorized, Wealth and Income Inequality | Leave a comment

Labor Day Blues – Mourning the Death of Economics

I had other plans for this morning, but today’s newspapers had stories that hit me hard. I have known I needed to improve upon my own recent efforts to clarify the true nature of our economic situation, and to provide … Continue reading

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Inequality and Debt, Dysfunctional Forecasting, and the Discomfort Zone to the Left.

For much of the past five years readers of the political and economic news were left in little doubt that budget deficits and rising debt were the most important issue facing America. Serious people constantly issued dire warnings that the … Continue reading

Posted in - FEATURED POSTS -, - MOST RECENT POSTS -, Budgets, Economics, Taxation, Wealth and Income Inequality | Leave a comment

Inequality and Taxation: The Krugman Conundrum

I’ll make this short: In today’s New York Times Paul Krugman once again revealed how his Keynesian thinking has been corrupted by opposing neoclassical, supply-side ideas. If you are losing patience with my continually “picking on” Paul Krugman, I am only focusing … Continue reading

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Inequality, Money, and Taxation

The truth, both throughout the entire world as Oxfam International has now shown, and in the United States as my own statistics verify, is that the concentration of wealth in the hands of a very few individuals has gone way beyond … Continue reading

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Ignorance Is Death

The science of economics has failed us. Until I got deeply into my research on the economics of inequality, which has been my passion for the last three years, I did not imagine how badly it has failed us, and … Continue reading

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The End of the Line: The Crash Following a Debt Default

In my recent letter to the editor to the Albany Times Union, “Defaulting on debt a national disaster” (here), I argued that the budget and debt limit crises are the result of the massive growth of inequality, in particular the … Continue reading

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Inequality and the National Debt

Last night at midnight, the United States government shut down, and my first priority today is to write about it. This post will go beyond everything you’ve been hearing and talking about. Of course it’s insane, in a representative democracy, … Continue reading

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Raise top tax rate back up to 70%

(Return to the Contents Topics page.) The Albany Times Union published my letter to the editor on August 8, 2012 (here). You can’t say a lot in 250 words, but this is the gist of my theory of “the economics of inequality.”  Estimating and … Continue reading

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