An excellent timeline with all that has happened – and it includes clickable links for [...]
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[...] Monopoly Killer: Perfect German Board Game [...] Phillip Swagel’s “The Financial Crisis: An Inside View“. It is a meaty 50+ page document but it is full of great lines such as the following: A lesson for academics is that any time the word “force” is used as a verb (“the policy should be to force banks to do X or Y”), the next sentence [...] I wish they would just be honest with the American people and admit they don’t want any new energy instead of claiming to be FOR “green” energy and then doing everything they can to stop it (see Kennedy, Ted). AP: Feinstein seeks block solar power from desert land. “If we cannot put solar power plants in the Mojave [...] A great article talking about what happened [...] In 2003, amid debate about the Bush tax cuts and a budget deficit of merely $400 billion, Maine Senator Olympia Snowe demanded that any tax cuts be capped at $350 billion. “At a time of growing federal deficits,” the Republican declared to much media praise, “it is especially important that this plan be right-sized without putting our future at risk.” ![[Review & Outlook]](http://s.wsj.net/public/resources/images/OB-DC906_oj_1st_E_20090211222106.jpg) AP
Susan Collins, Olympia Snowe, Max Baucus, Harry Reid and Arlen Specter. Flash forward to Tuesday: Ms. Snowe provided one of three crucial GOP votes that helped Democrats pass $838 billion in new spending and “tax cuts” — often for people who pay no taxes. The deficit for 2009 even before this stimulus? $1.2 trillion. The CBO has released a new report on effective tax rates (total taxes divided by total income). Compared with previous reports, it includes more information about thin slices at the top of the income distribution. Here are the total effective federal tax rates for 2005, the most recent year available: Lowest quintile: 4.3 percent Let us consult some economists: Gary Becker: No Let’s just keep things in perspective. The economy is in a tough spot – for sure – but Europe, Russia, China, Japan, Venuzuela, Iran, and others have it much worse. Click “more…” to read the article. |
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