TUESDAY, APRIL 24, 2012 ECONOMICS: OPINION: High Tax Rates Won’t Slow Growth (Wall Street Journal) By Peter Diamond and Emmanuel Saez The share of pre-tax income accruing to the top 1% of earners in the U.S. has more than doubled to about 20% in 2010 from less than 10% in the 1970s. At the same … Continue reading
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AHEAD THIS WEEK
Schedule of hearings, events and data releases this week: UPCOMING WEEK Continue reading
Economic Daily Outlook
MONDAY, APRIL 23, 2012 ECONOMICS: Bernanke Charts New Mission for the Fed: Financial Stability http://www.americanbanker.com/issues/177_77/bernanke-fed-chairman-financial-stability-1048606-1.html While by law the Federal Reserve Board must worry about price stability and unemployment, Chairman Ben Bernanke appears to have charted a third mandate for the central bank: financial stability. In his speeches, lectures and testimony, Bernanke has steadily … Continue reading
Economic Daily Outlook
FRIDAY, APRIL 20, 2012 ECONOMICS: House passes 20 percent small biz tax cut http://www.politico.com/news/stories/0412/75362.html House Republicans sent a clear, election-year message that they’re going to make sure taxes are cut — stiff resistance from congressional Democrats and the White House be damned. With a 235-173 vote Thursday, the House passed a 20 percent tax … Continue reading
Economy / Fiscal policy / Politics / Tax
Avoiding the end-of-year “fiscal cliff”
By Will Portman The U.S. needs deficit reduction, but there’s such thing as too much of a good thing — or, in the case of the end-of-year “fiscal cliff” the country is approaching, implementing too much of a good thing much too quickly. In the absence of congressional action, a slew of tax increases and spending … Continue reading
Economic Daily Outlook
THURSDAY, APRIL 19, 2012 ECONOMICS Budget Fight Heats Up http://online.wsj.com/article/SB10001424052702303513404577352232858786436.html The White House, firing the latest salvo in this year’s budget battle, threatened to block any new spending bills until House Republicans reverse the spending cuts they approved in recent weeks. The House budget resolution approved in March reduces non-defense discretionary spending for the … Continue reading
Colombia as a Regional Leader?
Since taking office in 2010, Colombian President Juan Manuel Santos has sought to fill the regional leadership role left vacant by Brazil’s former President Lula da Silva when the latter left his post in the same year. Many analysts believe that the days of US hemispheric hegemony are over. I would go a step further … Continue reading
Economic Daily Outlook
WEDNESDAY, APRIL 18, 2012 ECONOMICS: Senate Budget Panel to Take Up Deficit Plan http://www.nytimes.com/2012/04/18/us/politics/senate-budget-panel-to-take-up-deficit-plan.html The chairman of the Senate Budget Committee said on Tuesday that he would introduce the blueprint of President Obama’s bipartisan deficit reduction panel to his committee as the starting point for negotiations over a long-term debt plan. But the committee … Continue reading
Economic Daily Outlook
TUESDAY, APRIL 17, 2012 ECONOMICS: ‘Buffett Rule’ Tax Plan Fails in a Senate Test Vote http://online.wsj.com/article/SB10001424052702304299304577348221678464912.html The Senate on Monday blocked the so-called Buffett Rule, a measure designed to ensure that high earners pay at least 30% in federal income tax, on a near-party-line vote highlighting the split over a key element of President … Continue reading
Why I Believe Neither Obama nor Romney Deserves the “Hispanic Vote”
As my esteemed colleague, Marlena Papavartis, and I have stated various times in our blogs: there is no single monolithic “Hispanic vote.” Political pundits and politicians, however, often fail to understand this basic concept. This past weekend was no different, with President Barack Obama telling Univision that he would attempt to “tackle immigration policy in … Continue reading
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