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.

Some Elements of a Progressive International Trade Policy

There are other ways to organize U.S. international trade. The neoliberal free trade of recent decades and the trade restrictions of Trumpian tariffs are not the only options.

D&S BLOG

Market Up Krugman Down

D&S Admin Mar 23, 2009

The Dow Jones Industrials soared nearly 500 points today (about 6%) on news of the Geithner plan to buy up toxic bank assets. The stocks of troubled banks did particularly well, Citibank up 17%, Bank of America 18%, JPMorgan Chase up 18%, and Wells Fargo up 17%.

As usual, if Wall Street is happy about a bailout plan, taxpayers should be worried.

From Krugman:

Read the rest of the column here.

In short, it won't work, it will enrich private investors at public expense, and it will close the door to other solutions that could work.

Published in: D&S BLOG

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Dollars & Sense is a non-profit, non-hierarchical, collectively-run organization that publishes economic news and analysis.

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