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Dynasty Trusts allow wealthy to pass most assets for generations tax free, helping to establish an American aristocracy. NYTimes http://nyti.ms/9Eg47O
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Economists demonstrate that toilet paper sales, including the shifting ratios from ordinary to premium brands, serve as a harbinger for economic recovery. MSN http://bit.ly/d3zIzz
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Nobel Laureate Daniel Kahneman points out the people earning less than $60k per year are progressively more unhappy the less they earn, but folks over $60k are all basically at the same level of happiness. My Money Blog http://bit.ly/aT0TGc
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There are $2.8 trillion in municipal bonds in the US, but cities' finances are precarious, particularly when considering massive pension obligations. Time Magazine http://bit.ly/ctu7R9
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The current global monetary system is closely tied to the dollar. A more balanced system would be linked to a basket of currencies. Jeffrey Sachs in Scientific American http://bit.ly/ctu1my |
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Economists long ago concluded that men's underwear sales are an excellent indicator of the economic situation, and can accurately signal the end of recessions. MSN http://bit.ly/cN9ZQo |
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Holiday gift giving provides a boost to businesses, but also is highly inefficient economically. One studies labels it "an orgy of value destruction". We'd be better off buying gifts for ourselves. Boston.com: http://bit.ly/c3hkTr |
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US Corporations set up subsidiaries in low tax countries. They declare their costs in high-tax environments and earnings in low-cost environments, minimizing taxes. In 2009 GE earned over $10 billion but paid no US taxes. Forbes: http://bit.ly/aoO38y |
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Visa and other large credit card companies have sophisticated algorithms which can predict divorce - which they care about because credit worthiness drops. http://bit.ly/9cU6YW |
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Researchers at Brown University use global night-light data from satellites to estimate levels and changes in GNP. SEED Magazine http://bit.ly/d7wk51 |
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Scrip, which is currency with an expiration date, has been used in financial crises to stimulate spending. NY Times http://nyti.ms/bIFhN4 |
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The mathematical formula which analyses financial risk, developed by David Li, drove much of the securitization leading to the current recession. Wired Magazine http://bit.ly/bwAJVH |
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While the Smoot-Hawley Tarriff Act is criticized, economists show that during recessions or depressions, temporary protections can allow companies and workers to reinvent themselves. http://bit.ly/amyWxP |
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Three social entrepreneurs have sold shares in themselves, promising a percentage of future earnings in exchange for investments. http://bit.ly/5r2gy2 |
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Over 10 million homeowners are "underwater" - owing more on their mortgage than their houses are worth. Banks, corporations and hedge funds routinely walk away from underperforming assets (including real estate). Why shouldn't homeowners? http://bit.ly/5Q0JNf |
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Does securitization really serve a useful social purpose? A skeptical Paul Krugman wants to know: http://bit.ly/ihOT8 |
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A gas tax would be the single most useful policy intervention to support a green economy. As articulated by Thomas Friedman: http://ow.ly/qevz |
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Current events argue for a Global Central Bank - as argued by Jeffrey Garten of Yale. http://ow.ly/qqxr |
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Speculation and wild market gyrations could be tamed with a very modest stock sale tax. NYTimes "best of 2008" idea. http://bit.ly/5fgYqr |
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If inequality in America changes in a given year (either increases or decreases), adjust the tax rates accordingly. NYTimes "best of 2008" idea. http://bit.ly/61XCMj |
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Responsible Wealth is a non-profit which helps affluent Americans (top 5% / $1m+ net worth) speak out against tax and other policies favoring the rich. http://www.responsiblewealth.org |
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