Taxing The Rich

Ken AshfordClass Warfare, Economy & Jobs & Deficit, Occupy Wall StreetLeave a Comment

Read this. You’re smarter than I am: The authors here estimated (very roughly) that a 2% wealth tax limited to top 0.1% (net worth over ~$43 million) would raise $2.6 trillion over ten years, assuming a 15% avoidance rate and no other behavioral responses…. or… … a 2% wealth tax limited to top 1% (net worth over ~$10 million) would … Read More

Dow Plunges 800+ Points

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

As Trump tries to deflect his role as the unspoken leader of the violent right extremism, his attacks on China and threats of more tariffs are hurting the economy. Today, the stock market is plunging. Trade bellwethers Caterpillar and Boeing dropped 3.6% and 3%, respectively. Semiconductor stocks like Micron Technology, Skyworks Solutions and Advanced Micro Devices fell at least 4.7%. … Read More

Then And Now

Ken AshfordEconomy & Jobs & Deficit, Trump & AdministrationLeave a Comment

Then (March 2019) Great news from @Ford! They are investing nearly $1 BILLION in Flat Rock, Michigan for auto production on top of a $1 BILLION investment last month in a facility outside of Chicago. Companies are pouring back into the United States – they want to be where the action is! — Donald J. Trump (@realDonaldTrump) March 20, 2019 … Read More

Trump’s New Deficit-Exploding Budget

Ken AshfordEconomy & Jobs & Deficit, Trump & AdministrationLeave a Comment

WaPo: President Trump is releasing a $4.7 trillion budget plan Monday that stands as a sharp challenge to Congress and the Democrats trying to unseat him, the first act in a multi-front struggle that could consume Washington for the next 18 months. The budget proposal dramatically raises the possibility of another government shutdown in October, and Trump used to the … Read More

Amazon Not Going To NYC

Ken AshfordBreaking News, Economy & Jobs & DeficitLeave a Comment

BREAKING: Amazon says it has canceled plans to build a headquarters in NYC. — MSNBC (@MSNBC) February 14, 2019 The online retailer faced opposition from some politicians, who were unhappy with the tax incentives Amazon was promised. No matter what you think of the decision, what’s fascinating about the Amazon news is what it says about 1. The surging … Read More

Cost Of The Government Shutdown: $3 Billion

Ken AshfordEconomy & Jobs & Deficit, Gubmint Shutdown, Trump & AdministrationLeave a Comment

The U.S. economy will likely never recover $3 billion lost during the five-week partial government shutdown, according to a report released by the Congressional Budget Office on Monday. The 35-day shutdown ― the longest such closure in U.S. history ― reportedly reduced GDP in the fourth quarter of 2018 by $3 billion and an additional estimated $8 billion in the … Read More

Government Shutdown Watch

Ken AshfordCongress, Economy & Jobs & Deficit, Immigration and Xenophobia, Trump & AdministrationLeave a Comment

Last night, the House passed a continuing resolution bill that included the $5 billion for a border wall, which Trump wanted. but the bill is DOA in the Senate and, we’re told, has no chance of passing. Trump is unchained. Mattis resigned yesterday after Trump’s decision, contra his advisers and, well, everyone, to pull out of Syria leaving a huge … Read More

More Plunging

Ken AshfordEconomy & Jobs & Deficit, Trump & AdministrationLeave a Comment

The Dow closed down 799 points on Tuesday after it appeared that there really was no China trade deal like Trump said. Yesterday, the market was closed due to Bush 41’s funeral (in which it became all about Trump, because as everyone eulogized Bush 41, it was obvious that these were things nobody would say at Trump’s funeral.) And do … Read More