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I have not read the book, I will try to look at it and tell you what I think, probably not right away. On issue of income inequality, the concept of a middle class was created by the industrial revolution, which in turn was part and parcel to the historic innovation and development of...

I think the issue with progressivity is deciding at what income level and rate you start and considering how that dovetails with you social safety net and then deciding at what income level and rate you stop and considering there how that dovetails with incentives to take risk, innovate and...

Sig, you think all C corps can and should avoid taxes by adjusting expenses on the fly so that they never make a taxable profit. You further think this ability of all C corps Obviates the need to reform the U.S. Corp Tax structure; since Corps can universally avoid it, you suggest that to...

With all due respect Sig, its not a difference of opinion about using profits before the year is over or after. The fact is that it is not a profit, it is not a correct use of the word 'profit', the word 'profit' does not have meaning, until the year is over and you close your books. You are...

Look Sig, I don't think you understand me. I don't what you told your CPA about what I said. Let me deal with what you just said. You said that if you see you will have a profit, you can figure out how to create an expense that will avoid a profit. Understand when I am talking about...

That is not the case now. C-Corps pay tax on earnings, whether they reinvest it or not. They may avoid paying dividends and they may leverage a purchase back shares instead and in addition to a dividend which would reduce dividend tax paid, and of course much C-Corp stock is owned by pensions...

What costs the U.S. is stupid and corrupt tax policy; you see it manifest in reactions like reincorporation; capital can after all move; just watch. Our tax on foreign earnings is stupid; there is no nicer way to say it. Properly understood it penalizes multinationals domiciled in the United...

And so?

I wrote in this thread years ago that the corporate tax should be zero. No one was saying that then, now I have Stanley Druckenmiller and Prof. Kotlikoff saying so. Taxes should be paid by shareholders at the time they receive a distribution. There should be no tax at the corporate level; we...

Clearly if prices rose to $70-$80 then U.S. production would increase, rig count would increase, employment in production would increase, capital spending on production would increase and ripple through the supply chain. However, why are you focusing on what the Iranian Oil OPEC minister is...

The cause of what you are observing here and discussing is a lack of investment in real assets. The jobs that are disappearing are the jobs that derive from the creation and maintenance of real assets. Real assets generate future income streams. The current problem is a result of a failure...

Morganist, it has been a while, I have been busy and not following these pages...but today I saw you inflation post...sorry for being late to the game. My take on you essay is that you make a fundamental mistake in stating Friedman's position by using only the first clause of his famous...

The main problem in the U.S. financial system and in most of the Developed West is a decline in investment in real assets. Real assets are the basis of any economy; real assets being possessory rights to future income streams. An economy grows in a real sense only when the aggregate amount...

Why focus on low tech pumps that nobody bothered to share with poor people? Do you know about the technological revolution in high tech high pressure pumps that is driving an energy revolution through 'Fracking' or is in providing water for deserts through reverse osmosis desalination...in ways...

There exists a body of evidence that 'technology' actually contributes to income inequality. See "Schempeterian Growth Theory and the Dynamics of Income Inequality" by Philip Agnion et. al., 2001...delivered at the Walrus Bowley Lecture at the North American meeting of the Econometrics Society...

The Icelandic Krona (ISK) has appriciated about 8% against the U.S. Dollar during the past year.

'Money' is non interest bearing demand credit that we use by law to settle debts and pay taxes. What else do you need to know about it?

Soros and Buffet simply manage huge amounts of capital; they invest it. In the case of Buffet, he leverages his insurance business to buy into business that has high threshold of entry, becuase of amount of cash required and that is benefited by government connections. Soros does much the...

Mercor, corporate tax reform has nothing to do with so called, 'trickle down' economics; the case for reform is that you would collect more revenue if you taxed the owners at regular income rates instead of taxing the corps at a compicated and easy to game corporate rate and then taxing the...