Serial entrepreneur, progressive sometime 1%er (tax me more!). National accounting & econ geek. Evolution and Shakespeare dweeb. Besotted father. From MO; show me the #s.
Seize the wealth and income.
https://wealtheconomics.substack.com/about
This gets amazingly little attention:
In the greatest "real-world" global supply and production shutdown "shock" since...ever? U.S. households' equity wealth … ~doubled.
Explain.
(Those equity assets are 87% held by the top-10% of wealthholders, top 20% of income recipients.)
Reply to Kavanaugh.
If one element is 1. loudly and broadly claiming there is smoke/fire in a crowded movie theater when there is not, and 2. threatening to ignite such a fire, and actually doing so, then restricting that element's speech doesn't seem "foreign" or objectionable.
Inequality researchers:
If you're not using the balance-sheet-complete Total (Haig-Simons) income measure (including holding gains), and thus Total saving, this very stark story of wealth concentration over the past two decades is completely invisible to you.
National Values.
French people spend an extra 8+ hours a week eating and drinking compared to the U.S.
Presumably much of that is quality time is with friends and family.
New Post:
The Bottom 80% of U.S. Households Persistently Dissaves, Spending more than Income.
Only the top 20% saves.
Whoa. FL in 2023 jumped ahead of My Reigning Home State (WA) in highly *regressive* state and local taxes.
Bottom 20%ers in FL pay **3X** as much in taxes as a share of income (13%), vs Top 20%ers (4.5%).
I can't believe I hadn't seen this Long Run Wealth Tax Simulator from Thomas Blanchet (zwitter @thomas_blncht). thomasblanchet.github.io/wealth-tax/
Based on this paper from a year ago. arxiv.org/abs/2211.15509
Time to dig in on this one...
Deadline in two days! Take a moment now to block institutionalized corruption.
Add your support to this rule, to block Trump's attempt to pack the civil service with political toadies. Here's what I wrote.
If you are worried about Trump's authoritarian plans, here is a specific thing you can do: write a public comment supporting a proposed rule that would block Schedule F, Trump's executive order to turn career staff into at-will appointees. https://t.co/AUBplGSx38
CPI prices up 0.54% in October (from the month before, annualized rate).
There's your headline, folks.
Graph and download economic data for Consumer Price Index for All Urban Consumers: All Items in U.S. City Average*12 from Jan 1947 to Oct 2023 about headline figure, average, all items, urban, consumer, CPI, inflation, price index, indexes, price, USA, chained, PCE, consumption expenditures, consumption, personal, final demand, and PPI.
