Options in the tax wipeout aftermath

From Dean Baker, an economist with the Center for Economic Policy Research, a strategy for offsetting the loss of state tax deductibility that will occur when the tax bill is implemented: replacing state income tax revenue with revenues from a state employer-side payroll tax. Provisions of the bill do pose fiscal problems for a state without

12 Jan 2018

Ways to push back on inequality

From a column in the Washington Post, “baby bonds”: a relatively inexpensive approach involving individual accounts (of perhaps $20,000) for each baby born in this country. From Matt Bruenig in the New York Times a couple of months back, the idea of a Norwegian-style social wealth fund that pays a dividend each year to all. These

11 Jan 2018

Ideas about money market mutual funds from economists’ conclave

The presentation below was given in one of a set of Association for Social Economics sessions given at the annual meeting of the Allied Social Sciences Associations taking place in Philadelphia last Friday through Sunday: MMMF presentation final ASE at ASSA 2018 I hope to have a full paper soon but am continuing to explore

10 Jan 2018

Presentation at ICAPE: Gender in our fiscal policy model

For economists and enthusiasts of models, I am posting a presentation to be given today at a conference in Philadelphia. I mentioned the conference and the group (the International Confederation of Associations for Pluralist Economics) in my previous post. Below is a link to a pdf containing presentation slides: ICAPE presentation slides model with gender

04 Jan 2018

Blogger preparing for two events

As I prepare for two annual conferences that are to take place in Philadelphia next month, I find that I have been extremely busy and unable to post. I will provide a quick update. At the January 4 conference of the International Confederation of Associations for Pluralist Economics (ICAPE), I will be presenting a paper

31 Dec 2017

Fiscal-policy scenarios with and without a tax cut

In this post, a longer version of the fiscal-policy-model simulation from last time.  My eventual aim is to consider some effects of a tax cut on income from wealth. My next move was to check that no big surprises lurk just around the corner in my “20-year” simulation of last time—surprises that might suggest correctable

20 Dec 2017

Some ideas from the web on the corporate income tax

I focused on some basic macroeconomic analysis of the likely effects of the tax bills last time. As this New York Times article pointed out over the weekend, many of the pros and cons being discussed in Washington involve taxation of corporations vs. individuals and noncorporate businesses. So one might also want to ask: Should

12 Dec 2017

Homegrown fiscal policy model tackles tax reform scenarios

The tax bills have not won high marks from economists or observers in the press. Speaking at the broadest level, the concerns relate to fairness and aggregate impacts on debts, deficits, and growth: 1. The bill is mostly bad for the poor and middle classes and benefits the well-off unfairly. 2. While pro-growth effects are

11 Dec 2017

Larry S. Lousy on Tax Reform?

Not exactly. In the Financial Times Larry Summers cites three signs of pure self-interest behind the bill introduced in Congress Thursday.  One is lousy in my view, the rest fine. Summers’s arguments are that: (1) “The plan would increase the deficit by $1.5 trillion in the decade and potentially more in the future.” Unfortunately, outstanding debt

07 Nov 2017

More big market power to follow tech innovations?

When markets are dominated by a few competitors, the market power they enjoy is likely to increase, resulting in a more lopsided distribution of the economy’s bounty. There is a great deal of talk that our economy are pointed in that direction. On NPR’s Fresh Air with Terry Gross last night, “How 5 Tech Giants

27 Oct 2017
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