Mercatus Center Research Fellow Veronique de Rugy examines the income dynamics of taxpayers with millionaire status using data calculated from IRS tax returns from 1999 through 2007. The data represent 675,000 taxpayers who were millionaires at some point during this period.
In contrast to popular sentiments about the rich getting richer and poor getting poorer, this [...]
The funny thing about the populist Move Our Money movement is that the banks really don’t want deposits right now because they are awash in cash and don’t know what to do with it.
In an article from American Banker, it was revealed that:
“The industry certainly doesn’t need more deposits today,” Fred Cannon, the [...]
I noted that the latest political poll run by the Wall Street Journal has revealed some underlying cultural trends (memes) that do not bode well for America’s future:
A new Wall Street Journal/NBC News poll has found an electorate that is convinced the country’s economic structures favor an affluent elite and is still deeply [...]
I think these folks may be on to something. From the OWS Forum:
Forum Post: Condemn venal journalism for severely fooling the people
Posted Oct. 23, 2011, 11:15 a.m. EST (10 days ago) by ShowRealHistThis content is user submitted and not an official statement
Condemn venal journalism for severely fooling the [...]
One of the main complaints of Occupy Wall Street is of income disparity in the US and the world. This is an idea rooted in economic misconceptions about capitalism which is endemic in our society. That is, there is a finite amount of wealth and the one percenters have most of it and that’s unfair. [...]
Of all my articles to date, the one that has drawn the most attention made the simple claim that in the political and economic histories of nations, “phase changes” happen, and that one might be about to happen here in the USA. A phase change, which may happen once every few generations, causes a country [...]
Judge Napolitano discusses the Occupy Wall Street demand for a debt jubilee, that is, forgiveness of all consumer debt. Economist Steve Horowitz notes that this would wipe out our financial system. So why do Morgan Stanley’s Stephen Roach and Harvard’s Kenneth Rogoff say this is a good idea? They are joined by the confused Ellen [...]