The features of the bill that are likely to help ordinary people were catchy and easy to understand—reduced taxes on tips and overtime pay and a higher standard deduction for the elderly on income taxes. Yet these projected revenue losses are tiny compared to those incurred by the super rich.
The United States has recently faced a vacillating dollar, calls to replace it as the global reserve currency, and calls for less spending and more saving in the United States. This all comes at an awkward time given the level of public outlays required to deal with the crisis and the need to attract capital to pay for them. But the pressures also highlight the central role of the dollar in the crisis. Read more »
With the crisis in Greece and other countries, commentators have said that governments are “under pressure from the bond market” or that bond markets will “punish” governments. What does this mean? Read more »
By Mara Kardas-Nelson, Lin Nelson, and Anne Fischel | April 3rd
The recent bankruptcy of ASARCO offers a chilling glimpse into the world of corporate irresponsibility allowable under U.S. bankruptcy provisions and environmental policy. Read more »
