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
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
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
By any measure, Secretary Price’s chartered flight is an unreasonable use of taxpayer money.
Donald Trump sent the American people a clear message on Tuesday when he announced an end to Deferred Action for Childhood Arrivals (DACA): in Trump’s America it is acceptable to deny people their humanity and deport them from the country they grew up in because they have a different skin color, talk with a different accent, or come from a different part of the world.
Our politics has changed a lot over the last 52 years, from July 28, 1965 to July 28, 2017.
Back in 2008 Henry Paulson, the Treasury Secretary in the Bush administration, needed to put billions of dollars of the taxpayers money at risk to bail out the big banks. We as a nation have decided that we never want to do that again.
Congress finally got the message from the American people. And the message they received is clear: major political donors should have more money and more influence on politics.
The strength of any state is its people. To succeed and grow, a state needs its citizens to be engaged, both civically and economically.
When I was young, people knew what “our way of life” meant. And that’s what worries me.
During every election cycle it seems that all anyone can talk about is the necessity for a dramatic change in the political system. Yet, each time a new Congress is sworn in, it seems to be more of the same.
We live in an increasingly polarized political landscape. More and more it seems that Americans are entrenched in their views, with little desire or ability to see things from other perspectives.
Our nation is, as it always is, trying to determine what the role of government should be.
Many businesses require employees to agree to non-compete agreements — meaning making the employee agree not to work for any competitor after leaving. There are a few instances in which this is reasonable.
While many conservative members of the House have argued that the AHCA will give people the freedom they need to pick a health care plan that works for them, the truth is very different.
What Speaker Ryan gets wrong is that domestic spending DOES have an impact on the lives of most Americans.
There might be a few legitimate reasons for someone to have a company based out of the British West Indies. Perhaps they happen to be one of the 57,000 people who live there.
In a recent Bloomberg article Representative Mike Kelly (R-PA) was quoted saying that he and his colleagues “need to hear from people who are in that business” to get a clearer picture of how to tax carried interest.