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Aaron Palm

David Ranson: The Revenue Limits of Tax and Spend - WSJ.com - 0 views

online.wsj.com/...4608104575217870728420184.html

revenue limits tax spend hauser's law

shared by Aaron Palm on 19 May 10 - Cached
  • President Obama's fiscal 2011 budget, the Congressional Budget Office (CBO) estimates a deficit that starts at 10.3% of GDP in 2010. It is projected to narrow as the economy recovers but will still be 5.6% in 2020. As a result the net national debt (debt held by the public) will more than double to 90% by 2020 from 40% in 2008.
  • They do not include deficit spending resulting from the new health-insurance legislation. The revenue numbers rely on increased tax rates beginning next year resulting from the scheduled expiration of the Bush tax cuts. And, as usual, they ignore the unfunded liabilities of social insurance programs,
  • "Hauser's Law," as I call this formula, reveals a kind of capacity ceiling for federal tax receipts at about 19% of GDP.
  • Aaron Palm on 19 May 10
     
    We can never collect more than 20% tax rate
Jason Welker

Nouriel Roubini - What America needs is a payroll tax cut - 2 views

www.washingtonpost.com/...AR2010091605846.html

shared by Jason Welker on 17 Sep 10 - No Cached
  • The administration knows that it needs to fashion a revenue-neutral fiscal stimulus that increases labor demand and consumption. Its proposal to make permanent a research and development tax credit that dates to the 1980s, and then to enact a temporary investment tax credit allowing firms to write down capital investments at 100 percent of cost, are welcome -- but too modest a cure for what ails the economy. A much better option is for the administration to reduce the payroll tax for two years. The reduced labor costs would lead employers to hire more; for employees, the increased take-home pay would boost much-needed economic consumption and advance the still-crucial process of deleveraging households (paying down credit card debt and other legacies of the easy-credit years).
  • Jason Welker on 17 Sep 10
     
    Roubini says cut payroll tax to relieve households and encourage hiring.
Seth Roberts

Paul Krugman: The Economic Failure Of The Euro : NPR - 0 views

www.npr.org/...e-economic-failure-of-the-euro

krugman Euro Econ Macro Economics international

shared by Seth Roberts on 25 Jan 11 - No Cached
  • Krugman explains that having a transnational currency does have obvious benefits — it makes doing business a lot easier in Europe. But, he says, there's also a downside: By giving up its own currency, a country also gives up economic flexibility and the benefit of having its own federal government back it up in times of economic trouble.
  • Krugman points to the economies of Ireland and the state of Nevada as examples. Both depend on exporting as a major source of revenue (Ireland to other countries, Nevada to other states)
  • Seth Roberts on 25 Jan 11
     
    This story is a great explanation of the Euro zone and it's strengths and weaknesses
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