Trump’s Perfect Storm that Could Sink the American Economy
Donald Trump has steered the American economy into a perfect storm. In the book, film, and now in real life, a rare combination of destructive forces comes together and magnifies the damage. This storm could break the U.S. economy. Trump’s tariffs are the most destructive force. Their first-order damages begin by arbitrarily driving up the prices of every product and… Continue reading
The Vast Economic Costs of Trump’s Plan to Bar Muslims…
Donald Trump’s mindset and style virtually compel him to attack anyone who might be a threat or enemy, and he recruits supporters by going after groups he casts as their enemies or threats. His darkest suspicions and contempt are reserved for Muslims. He presents his solution, barring people from Muslim-majority countries from entering the United States, as a low-cost way…Continue reading
Rising Incomes Are a Key to Winning in 2016 —…
Even if we accept that the 2016 campaign is a fact-free zone, what precisely are Donald Trump and Bernie Sanders talking about when they rant on about incomes cratering for most Americans? It’s true, as I’ve documented, that a majority of Americans saw their incomes stagnate or decline throughout the Bush expansion (2002–2007), and the financial crisis and ensuing…Continue reading
Everyone Will Lose if the UK Exits the EU —…
On June 23rd, Britons will hold a referendum on whether to stay or leave the European Union (EU), and surveys point to close vote. If Britain does exit the EU, or “Brexit,” the fallout could be serious and widespread. In February, G-20 finance ministers warned that Britain’s leaving the EU “could threaten global economic recovery.” Brexit also would produce serious…Continue reading
Why We Need the Hackers behind the Panama Papers
The outrage heard around the world on the release of the Panama Papers brings to mind Claude Rains’s turn as the Vichy prefect of police in Casablanca, “discovering” gambling going on at Rick’s Café. The fact that many of the world’s richest people and most corrupt politicians squirrel away hundreds of billions of dollars in secret offshore accounts has been…Continue reading
Whatever Some Candidates Tell You, the Incomes of Most Americans…
After a decade when most Americans saw their incomes decline, the latest Census Bureau income data contain very good news: A majority of U.S. households racked up healthy income gains in 2013 and 2014. The facts may not fit the narratives of Donald Trump, Ted Cruz, or Bernie Sanders. But they do help explain why President Obama’s job approval and…Continue reading
Donald Trump’s Chutzpah: His Tax Plan Doubles Down on Inequality…
Donald Trump, often a master of snide generalities, has been very precise about not only his plans for undocumented immigrants and Obamacare, but also his approach to taxes. The presumptive GOP nominee has laid out detailed proposals to cut tax rates, expand the standard deduction, and sharply shift the approach to business taxes. I’ve reviewed his proposals, and the conclusions…Continue reading
GOP Hopefuls Understand Little about Older Americans and Social Security
In last Thursday’s GOP debate, Marco Rubio, Ted Cruz, Jeb Bush and Chris Christie avoided any mention of their common proposal to “reform entitlements” by raising the Social Security retirement age from 67 to 70. Their silence was the right decision: Their proposal demonstrates their lack of understanding about the demographics of older Americans, especially the dramatic disparities in their…Continue reading
Will the GOP Break Up?
At the risk of spoiling your holidays, it’s time for a serious talk about what’s driving the race for the GOP nomination. It’s not just personality, although Donald Trump and Ted Cruz are certainly more effective messengers than, say, Ben Carson and Carly Fiorina, their ideological doppelgangers. More important, the broad appeal to the party’s base of the extreme attacks…Continue reading