Friday, July 20, 2012

Half Of American Households Hold 1 Percent Of Wealth

From the site:

"The share of the nation's wealth held by the less affluent half of American households dropped precipitously after the financial crisis, to 1.1 percent, according to new calculations by Congress's nonpartisan research service."

Romney’s and Obama’s tax plans, in one (new and improved) chart

Great chart from Ezra Klein's blog:

"It’s also worth noting that these numbers only tell half the story: Romney has promised to offset the cost of most of his tax plan through spending cuts and tax reforms, and so any analysis of who pays is incomplete without those policies. But that information is impossible to graph, as Romney hasn’t released it yet. All we can say is that since Romney has promised to increase spending on defense and honor Medicare and Social Security’s scheduled benefits for the next decade, it’s hard to see how he makes good on that promise without cutting deep into programs for the poor and tax preferences that benefit the middle class, and if that’s right, then the poor and middle class are paying much more than you can tell from the graph above."

Sunday, July 15, 2012

The Class-Warfare Election -

The Class-Warfare Election -

Paul Krugman links to an excellent chart from Ezra Klein. From the site:
"So like it or not, we have an election in which one candidate is proposing a redistribution from the top — which is currently paying lower taxes than it has in 80 years — downward, mainly to lower-income workers, while the other is proposing a large redistribution from the poor and the middle class to the top."

Sunday, July 8, 2012

Molly Ivins on Inflation, the Fed, and Full Employment

Enjoyed this post re inflation from the late, great Molly Ivins -- answers the question of why rich people dislike inflation and why the Fed leans more towards low interest rates than to slightly higher interest rates that might heat up the economy and create jobs:

Molly Ivins September 24 by Molly Ivins on - A Syndicate Of Talent

And words of tribute from a Paul Krugman blog post from 2007 -- still rings true today:

Monday, July 2, 2012

Obamacare is the biggest tax increase in history … if you ignore history

From the Incidental Economist web site -- great chart:

"Maybe you’ve heard that Obamacare is the biggest tax increase in history. Not so. Not even close. Kevin Drum posted the evidence in a table. I turned it into a chart."