Gary Cohn, the director of the National Economic Council was just on CNBC talking about the necessity of repealing the estate tax. Mr. Cohn said: Well, look, we want that farmer to go out and buy the next piece of land, and the next piece of land, and the next piece of land, and create the economies of scale and be able to compete in … Continue reading Pearls of Wisdom: Does Gary Cohn Even Understand the Estate Tax
One of the causes of the 2008 financial crisis was the high demand for securities backed by sub-prime mortgages and rated triple-A (AAA) by the rating agencies. The agencies gave the AAA rating to many bonds that turned out to be much riskier than the rating implied. The demand for those bonds, driven in part by the ratings, was the main driver of the issuance … Continue reading Pearls of Wisdom: Who is Being Regulated?
Despite calls to move to the center and focus on bipartisanship, since the 2016 election the Democratic party is finally beginning to realize that it can no longer compromise on its values for Wall Street cash. Even setting aside the simple fact that progressive platforms like raising the minimum wage are good policy, it’s clear that relying on Wall Street money and ignoring the energy … Continue reading Why Progressives Don’t Need Wall Street Millionaires
Make no mistake, the trillion-dollar tax cuts for the wealthy proposed by Trump and his friends in Congress will create deficit dollars. Sooner of later those deficit dollars will be repaid by cutting “entitlements”, i.e. taking from working families and the poor.
Let Congress sort out if they can be turned into law later, the way to win is to rally people around ideas.
President Trump talks a lot about honoring the men and women who died for this country. At least, he talks a lot about how others, most notably professional football players, should honor them.
The thing that holds us together as Americans is values. They are our American religion. That’s what we pledge allegiance to.
After decades of degeneracy, Harvey Weinstein’s alleged sexual abuse and harassment of dozens of women in Hollywood is being widely discussed and covered in the media. Some of these women accused Mr. Weinstein of criminal acts (assault, rape), while many claimed he acted incredibly inappropriately (suggesting that he could aid their career advancement if they had a sexual relationship with him). In some of these … Continue reading Are Secret Settlements Good for Companies?
Two years ago, billionaire David Geffen donated $100 million for renovations and naming rights to David Geffen Hall. Wealthy due to his success as a music promoter and executive, Mr. Geffen is well-known today for his philanthropy. For example, UCLA’s School of Medicine was renamed in his honor following a $200 million donation in 2001. I’m not opposed to these donations, in and of themselves. … Continue reading Elected Officials, not Philanthropists, Should Make Decisions for Our Country
If we’re serious about stopping this kind of abuse, we need to be serious about giving victims the legal tools they need, and that means getting rid of mandatory arbitration agreements.
I don’t need a tax break for my estate tax, and my kids don’t deserve to be pawns (or kings) in the divisive game already played by the super-rich.
On February 1, 2018, Janet Yellen’s term as The Chair of the Board of Governors of the Federal Reserve System (Fed Chair) ends, and a Trump appointee will succeed her.
The GOP tax plan is a huge gamble that, if unsuccessful, would all but bankrupt the US.
I make a lot more money each year than I need to live on, but this city, state, and especially this country need a lot more money to build our infrastructure and help our fellow citizens.
We may not be able to fix or eliminate inequality through our tax code, but let’s not make it worse.
To all my fellow American entrepreneurs, businesses owners, and investors who have been blessed to be in the upper end of the income and wealth spectrum: America needs a lot of things before we need another tax cut.
When we discuss economics there are, very broadly, two types of people: First, there are regular people. They mostly need to work, and a lot of them try to save enough so that they can retire someday. Some of them succeed, but increasingly, many do not. Being a regular person means spending most of your income. Some live very well, and some live very poorly. … Continue reading My Tax Philosophy
This cynical Republican tax plan is nothing less than a scheme to transfer public wealth into private hands.
The President’s plan to repeal the estate tax isn’t just bad tax policy, it’s un-American.
By any measure, Secretary Price’s chartered flight is an unreasonable use of taxpayer money.