Business On the Economy

  • 15 percent or not, tax policy favors the rich

    Mitt Romney hasn't done anything wrong in paying a low tax rate. What’s wrong is the tax system itself—by favoring investment income, the excessive use of pass-throughs, and subsidizing debt financing.

  • Obama's SOTU was specific, forceful

    Obama's SOTU speech called for lawmakers to  “build on the momentum we’ve got right now" by creating incentives for manufacturers, skills for workers, jobs in fossil fuel extraction and clean energy innovation, all financed by a fairer tax code.

  • How much will Romney really slash the budget?

    Mitt Romney is  proposing deep spending cuts that would cap federal spending at 20 percent GDP. That means slashing Social Security benefits and pushing 2.6 million additional Americans into poverty.

  • If the deficit goes down too fast, unemployment goes up

    If the Bush tax cuts expire on schedule,  the drag to the still-too-weak economy from the reduction in after-tax income would mean less buying power for a lot of families and that would send the unemployment rate back up past 9 percent.

  • What Mitt Romney's 'poor' gaffe really means

    What Romney seems to have meant is that he believes the least-well-off are amply provided for by the safety net. Too bad he wants to shred it.

  • The problem with the 'trickle down' theory

    The trickle-down, de-regulatory agenda presumes that the growth chain starts at the top of the wealth scale and “trickles down” to those at the middle and the bottom of that scale.  Problem is, that’s not how it works

  • Local budget cuts drag down the entire economy

     Instead of raising taxes, cities and states are balancing their budgets by laying off teachers, cops, maintenance workers. The loss of state and local jobs slows fiscal growth for everyone.

November 23, 2014

Photos of the weekend

Fascists and far right supporters rise their right arm saluting as they remember former Spanish Dictator Francisco Franco on the 39th anniversary of his death, in Madrid, Spain, Sunday.

More On the Economy
  • How much will Romney really slash the budget?

    Mitt Romney is  proposing deep spending cuts that would cap federal spending at 20 percent GDP. That means slashing Social Security benefits and pushing 2.6 million additional Americans into poverty.

  • Rick vs. Newt: The debate factor

    Rick Perry's candidacy failed almost entirely on the weakness of his debate performances, while Newt Gingrich's  is thriving on the strength of his. One problem: a good debater doesn't necessarily make a good president.

  • Why Romney can pay a 15 percent tax rate

    Romney's 15 percent is the going rate on capital gains and dividends, which is where he gets the bulk of his income (along with many others in the top income brackets).

  • Obama tried to help the budget supercommitte. Really.

    In September, the president proposed a budget to the supercommittee that included budget cuts meant  to please Republicans. Yet some say he failed to "reach across the aisle."

  • Why Obama doesn't get enough credit

    Why hasn’t the president gotten more credit for what history may ultimately judge as a record of remarkable accomplishments?

  • What does it mean when Romney says, 'I understand the economy'?

    In today’s America, the president needs to understand the economy measured by middle-class incomes, paychecks, the quantity and quality of jobs, rates of poverty, and income gaps. Romney understand the economy of Wall St., not Main St.

  • Income inequality: It's a problem. Here's why.

    Income inequality is strongly correlated with the inability of the next generation to achieve the American Dream. The more income inequality, the fewer people can achieve the 'Dream.' 

  • Mitt Romney needs to get his facts straight

    Mitt Romney asserted that federal low-income programs are administered so inefficiently that “very little of the money that’s actually needed by those that really need help, those that can’t care for themselves, actually reaches them.” But administrative costs only count for between 1 and 10  percent of these programs' spending.

  • Why 'trickle down' economics don't work

    Supply side economic practice deepens the deficit and worsens inequality

  • Why we need business people in politics

    Business skills might not necessarily fit with government policy, but business people are good for one thing–dealing with other business people

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