The recent theft of tax information on wealthy people, apparently by some IRS employee, and its delivery to ProPublica, certainly has caused a stir. The disclosure was a crime and should be punished, but the information is informative about our current tax structures and needed reforms.
Many issues beg for public discussion but reporting on these disclosures are muddled to say the least. Some stories may have amplified misunderstanding rather than removed it.
Burrito economics: Republican claims about price rises are so much hot air | Robert Reich | The
"Democrats' socialist stimulus bill caused a labor shortage and now burrito lovers everywhere are footing the bill," said an NRCC spokesman, Mike Berg.
It seems Republicans have finally found an issue to run on in the 2022 midterm elections. Apparently Dr Seuss and Mr Potato Head weren't gaining enough traction.
The GOP's tortured logic is that the unemployment benefits in the American Rescue Plan have caused workers to stay home rather than seek employment, resulting in labor shortages that have forced employers like Chipotle to increase wages, which has required them to raise their prices.
Opinion: President Biden's trickle-up economics are bound to fail - The Virginian-Pilot
Biden is proposing a very large expansion of government spending, to 25% of GDP from 20% before the pandemic. The plan represents a massive redistribution of wealth from companies and higher earners to middle- and low-earning Americans.
The Biden administration would like to try a new approach. One of the president's economic advisors, Heather Boushey, favors a philosophy that aims to spark growth by redistributing wealth and income. She argues that because consumption accounts for 70% of GDP each year, it stands to reason if we take resources from rich people who save more of their money, and give it to poorer people who spend more, we'll increase consumption and have a bigger economy.
The economics of paying ransom - Yellowhammer News | Yellowhammer News
Ransomware raises many economic issues. A first question is, do hackers ever give the data back if paid? DarkSide provided Colonial Pipeline a key to decrypt their data. According to Proofpoint, this is the norm: 70% of ransom payers got their data back, 20% never got their data back and 10% received a second ransom demand.
From an economic perspective, this is not surprising. About two dozen groups, identifying themselves by name and known to insurance companies, carry out most of the sophisticated attacks. Insurers would never recommend payment in the future to a group which has reneged. The hackers must deliver as promised to make money.
Bad economics put solar deal on pause | Local News | record-eagle.com
Irish Ambassador condemns 'leprechaun economics' term as derogatory
Nobel Prize-winning economist Paul Krugman used the phrase 'leprechaun economics' to describe Ireland's tax policies relating to multinationals in his column with the New York Times. File photograph: Jason Clarke
Irish Ambassador to the United States Daniel Mulhall has described the use of the word "leprechaun" by a Nobel Prize-winning economist as an "unacceptable slur".
Mr Mulhall was responding to a column in the New York Times by Paul Krugman who coined the phrase "leprechaun economics" to describe Ireland's tax policies relating to multinationals.
AFP Sunday Economics News Advisory | Macau Business
After flying into the financial turbulence of the Covid pandemic, the airline sector expects passenger traffic to take off despite concerns about the industry’s impact on climate change.
The face of a viral war: tracking the economics of masks, from shortage to mass accessory - The
Employees pack N95 face masks for children at Salus Products factory near Changodar, some 20 km from Ahmedabad on July 17, 2020.
Mask manufacturing has taken off on the back of awareness and a surge in demand. From panic purchasing in the early days, masks have gone on to become a mass accessory in the span of a year, with even a range of choices to pick from. The proof of the shift: a person donning a mask hardly gets stares anymore.
Happening on Twitter
"Even something as radical as reforesting the entire tropics – far beyond any plausible real-world policy outcome –… https://t.co/UpmVvXAiOk GretaThunberg (from Sverige) Sun Jun 13 07:58:28 +0000 2021
A Netflix binge is a temporary escape from languishing, not a cure. Passive engagement in a fictional world doesn'… https://t.co/zrYk4PU19R AdamMGrant (from Philadelphia, USA) Sat Jun 12 13:09:10 +0000 2021
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