Friday, 14 July 2017

Obsession with Corporate Tax

Not sure about your obsession to lower corporate taxes, it just creates a massive loophole for the 1%. Tax rate should be on a level with income tax, double tax can be avoided with other measures, eg low income shareholders get rebate etc. Investment is sheltered as depreciation reduces tax rates, dishing out money on repurchasing shares is made less attractive. And the foreign cash? just change the tax code, there is no reason to keep the exemption!
Fiscal Policy Dreaming - Scott Grannis Blog

Friday, 7 July 2017

Patents abused - entrenches established players, One Percent

There are lots of patents floating around that don’t represent bona fide inventions.
One Thing You Don't Need Is Stronger Patents - Bloomberg

Monday, 3 July 2017

Should We Fear Jeff Bezos's Growing Empire?

Problem with Amazon is similar to Google - it offers a product but at the same time is a platform, so they should only be allowed to be one or the other. Otherwise they have an inbuilt advantage.
Should We Fear Jeff Bezos's Growing Empire?

Saturday, 24 June 2017

Pension Liabilities - serious problem but overhyped

No one will deny that with an aging population and dropping birth rates the pension systems in many - if not most - countries is in serious trouble sooner or later. But dramatic talk of tens of billions of 'unfunded' liabilities is off the mark. Of course one can look at the spending side, add up the expected numbers and discount them to the present. All very well, but then you have to do the same for the other side of the equation. No individual would say he has 'unfunded' liabilities by adding up his expected lifetime spending, at age 35 for example. Doing this would find nearly all citizens are technically bankrupt. So please listen, economists, politicians, journalists and assorted 'experts'. Try to solve the REAL pension problems rather than engage in scaremongering for political purposes. Prevent early retirement (esp in the public sector), prevent abuses in the corporate sector (huge pensions for a few fat cats), prevent costly subsidies on pension saving by the well-off, prevent expensive private pension schemes that can charge high fees while being treated to lavish tax and regulatory support that only benefits providers.
Illinois victim of dysfunctional public pension system

Friday, 16 June 2017

8 billionaires have the combined wealth of half the world's population

Just another reason why it is pathetic that the economics tribe - Universities, Think Tanks - fiddles around with tiny changes in GDP, employment or interest rates while missing the elephant in the (political economy) room!
These 8 billionaires have the combined wealth of half the world's population

Thursday, 15 June 2017

Millionaires own a record 45% of the world's wealth

The really frightening thing is that this trend is continuing! We don't need explanations but solutions! Maybe Economists and Policy Makers should not focus on the next tiny shift in GDP growth but on the BIG picture - how to reverse this trend to ever-more concentration in the world's wealth! What do all the talking heads on CNBC and Bloomberg etc have to say? Or tenured professors sit in sheltered glasshouses and flit from conference to conference - pocketing handsome fees - while neglecting their students.
Millionaires own a record 45% of the world's wealth — and their share is growing