Levinson’s inability to perform a Bohm-Bawerk grade undermining of Schiller is shameful and the attempt appalling
Marc Levinson’s article, linked below, offers details about the post WWII “golden age” which are thorough for casual interest readers to understand and to gain insight as to events which may have cause and effect relationship related to modern economic conditions and how to proceed. However there were key places Levinson chose to selectively not educate the reader. One, he fails to discuss financing the “golden age” with taxes on income 25x poverty levels. Though realistically everyone paid higher rates to help finance the needs and support structures he thoroughly describes as essential to the success during that period. Continue reading Marc Levinson’s selective education
The National Priorities Project was nominated for a Nobel Peace Prize in 2014 and currently focuses on taxes, the national debt, and government transparency.
First, information from a second source with links.
“Government Budget in the United States averaged -3.02 percent of GDP from 1948 until 2015, reaching an all time high of 4.60 percent of GDP in 1948 and a record low of -12.10 percent of GDP in 2009.” – TRADING ECONOMICS quote from their page United States Government Budget
Now back to the NPP; this article discusses the basics to understanding the federal debt.
A few overview points are as follows though the article is an excellent resource for much more information and explanation.
- Tax cuts in 2001 and 2003 contributing impact to deficits
- Total federal debt listed in article as of 4 June 2015: $18.153T
- Foreign investment in U.S. Treasury Bonds
- China $1.3T
- Japan $1.2T
- Brazil $262B
- oil exporting nations $297B
- Caribbean banking centers $293B
The entire article and links to several others for research or study can be found through the link below.
Borrowing and the Federal Debt: Federal Budget 101
By National Priorities Project (NPP)
A recent article about Arthur Laffer explores the libertarian economics view. The article describes flaws of theory versus reality with regard to earnings and decisions by the wealthy.
Article: Saint of libertarian economics: Arthur Laffer
By Lion of the Blogosphere
In addition a link to a brief history of the Economist Arthur Laffer by The Laffer Center
The OECD has proposals to close tax loopholes on international business. The concept is fine but the reasoning seems lacking. I will look at nations with lower resource levels to otherwise attract business investment.
Continue reading Taxes on Business
Same-sided article on proposals by OECD to draw tens of billions USD in tax revenue by preventing profit shifting.
The Economic Times
I’m personally curious if this will take the competitive advantage away from countries with lower domestic resources and thus incentivize investment with low or no tax compared to countries with higher domestic resources.