Monthly Archives: November 2012

Large-Scale Asset Purchases by Jeremy Stein

Posted on November 30, 2012 by

Here’s Greg Ip on Jeremy Stein’s recent LSAP speeches (Oct 11, Nov 30): If Mr Stein’s story is right, we should expect to see corporations exploiting the drop in long-term rates to refinance short-term debt and repurchase stock but not boost … Continue reading →

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The White House on “Limiting Deductions: The Reality of the Math”

Posted on November 29, 2012 by

Here’s Jason Furman and Gene Sperling: In his Budget, the President proposes to raise $1.56 trillion in revenue from high-income households, including $1 trillion from the expiration of the Bush high-income and estate tax cuts and additional revenue from limiting tax … Continue reading →

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What economic problem keeps Larry Summers up at night?

Posted on November 29, 2012 by

What about the economy now keeps you in cold sweats at night?  I worry for the medium and long term about where the jobs are going to come from for those with fewer skills. One in five men between 25 … Continue reading →

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The Growing Burden of Payroll Taxes

Posted on November 28, 2012 by

Here’s a column on reforming the payroll tax that I wrote in NYTimes Economix today: Payroll taxes and corporate income taxes accounted for an equal share of federal tax revenue in 1969. By 2009, payroll taxes generated more than six times as much … Continue reading →

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Larry Summers has a new website

Posted on November 28, 2012 by

Larrysummers.com  

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Interesting Paragraph from Ed Glaeser

Posted on November 27, 2012 by

Economist Matthew Kahn of UCLA has studied the death tolls from natural disasters. He found that where governments are more capable, fewer people die. This makes me worry about the fate of cities in the developing world that are just as subject to natural … Continue reading →

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Links for Today: Fiscal Cliff, Effectiveness of Savings Incentives, & Banking

Posted on November 27, 2012 by

Absolutely everything you need to know about the fiscal cliff from Wonkblog Study Questions Tax Breaks’ Effect on Retirement Savings by Annie Lowrie Banking Must not be Left in the Shadows by Gary Gorton via Mark Thoma  

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Facts are Stubborn Things: High Income Tax Rates and Job Creation

Posted on November 26, 2012 by

Throughout the campaign and through the fiscal cliff discussions, Republicans have consistently espoused the idea that modestly raising top marginal rates will destroy job creation. For instance, here is Sen Lindsey Gram from ABC’s “This Week”, “[T]o avoid becoming Greece, … Continue reading →

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The Middle-Class Tax Cuts’ Impact On Consumer Spending & Retailers

Posted on November 26, 2012 by

According to today’s NEC and CEA report, Allowing the middle-class tax rates to rise and failing to patch the Alternative Minimum Tax (AMT) could cut the growth of real consumer spending by 1.7 percentage points in 2013. Faced with these tax … Continue reading →

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Should We Increase Dividend Taxation? 3 Views

Posted on November 25, 2012 by

In the NYTimes this morning, Steven Rattner joined a number of others (e.g. Laura Tyson) in calling for higher dividend tax rates. There are three main views on the efficiency costs of dividend taxation: Old View: The old view (Poterba … Continue reading →

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