November 2014 Conference Board Employment Index Improves. But the Rate of Growth Decelerates Slightly
December 7th, 2014
by Philip Pilkington
Did you know that if you are male and eat beans every Tuesday morning at exactly 8.30am you are more likely to marry a supermodel? No. That’s not true. I just made that up. But I hear of statistical studies in the media that sound only slightly less ridiculous all the time. Often these have to do with diet, sexual psychology or… economics.
Age of Wisdom, Age of Foolishness (53)
“Be vewy, vewy quiet.”
The Republican success, in the US Midterm elections, cast a long shadow over the global geopolitical landscape. The American Middle Class (asset poor) shot themselves in the foot, by refusing to vote; in a fit of anger that President Obama has not delivered for them economically. In doing so they left the door open, for those with employable skills and asset portfolios, to vote and make sure that President Obama (and Janet Yellen and Jacob Lew) cannot rob them in order to reward the Middle Class. The next emotional outburst of the American Middle Class, which will be more pecuniary in nature, must now wait until the Presidential election.
by Fabian Kinderman and Dick Krueger
Appeared originally at Voxeu.org.
Optimal tax rates for the rich are a perennial source of controversy. This column argues that high marginal tax rates on the top 1% of earners can make society as a whole better off. Not knowing whether they would ever make it into the top 1%, but understanding it is very unlikely, households especially at younger ages would happily accept a life that is somewhat better most of the time and significantly worse in the rare event they rise to the top 1%.