Skip to main content

Economics Daily Digest by the Roosevelt Institute banner

By Rachel Goldfarb, originally published on Next New Deal

Click here to receive the Daily Digest via email.

Now That’s Rich (NYT)

With so much wealth now concentrated among a small financial elite, writes Paul Krugman, we should set aside fears that higher taxes would punish workers and job creators.

  • Roosevelt Take: Roosevelt Institute Chief Economist Joseph Stiglitz spoke to the Senate Budget Committee about how policy, like higher taxes, could address inequality. His testimony was based on a forthcoming Roosevelt Institute paper.

People Don’t Vote With Their Feet When it Comes to Taxes, Report Finds (WaPo)

Niraj Chokshi reports on a Center on Budget and Policy Priorities study, which found that interstate moves, which are rare to begin with, have almost nothing to do with income taxes.

Warren and Allies Said to Reject Fannie Mae Overhaul Bill (Bloomberg Businessweek)

Six Democratic senators have decided this plan to replace government-owned mortgage firms is unworkable, reports Cheyenne Hopkins, and without them it's unlikely to pass.

Unions Warn Obama on Walmart Visit (WSJ)

Jeffrey Sparshott reports that labor groups are unhappy with the president's planned talk about energy efficiency at a Walmart. They suggest another topic: income inequality.

Janet Yellen's Favorite Phrase, Explained (Vox)

Danielle Kurtzleben notes that Yellen often refers to labor market "slack," which means people want work but can't find jobs. Yellen's concern is how the Fed can address that problem.

Rand Paul Clearly Doesn't Understand Why the Economy's Still Struggling (TNR)

Danny Vinik writes that the real problem in the economy is low demand for goods and services. Cutting spending won't solve that problem, but full employment would.

New on Next New Deal

Collaborative Democracy in Action: The Summer of Rethinking Communities

Alan Smith, Roosevelt Institute Associate Director of Networked Initiatives, writes that students across the country are asking how their schools can better support local communities.


Originally posted to Daily Kos Economics on Fri May 09, 2014 at 05:17 AM PDT.

Also republished by Daily Kos.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

  •  Taxes Lead to Donors Voting With Their Feet (0+ / 0-)

    and attack advertisers voting with their wallets.

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Fri May 09, 2014 at 05:31:29 AM PDT

    •  tina1 (0+ / 0-)

      <<<<>>>>>>
      Hi ! I am Jenna, and i will be your personal coach and will guide you in starting with an online business and earning online... So if you are interested in making $90 hourly and up to $12000 a month then follow link at the bottom and sign up and you can have your first check by the end of this week...­­WORK71.C­­O­­M

  •  This is a Democratic site, right? (0+ / 0-)

    You'd think the users would know that the only thing to fear is fear itself.

    Pay no attention to the upward redistribution of wealth!

    by ActivistGuy on Fri May 09, 2014 at 08:03:20 PM PDT

  •  Eisenhower Proved That Higher Taxes on the Rich (1+ / 0-)
    Recommended by:
    Egalitare

    made the economic engine of democracy roar with power creating the greatest country on the planet.

    Reagn threw sand in the economic engine's oil.

    •  Reagan made me a Democrat and a feminist. (1+ / 0-)
      Recommended by:
      bleedingheartliberal218

      I'm grateful for that, but I will never forgive him for the world of hurt he set in motion against this nation. Naming an outhouse after him would have been too high an honor.

      Transformational, yes. Obama should have made clear from the get-go that he meant that in a bad way.

      Then again, not sure he did.

      "I think in America, the opposite of poverty is justice." Bryan Stevenson

      by gfre on Sat May 10, 2014 at 06:22:36 AM PDT

      [ Parent ]

      •  Obama Said He "'Admired' Ronald Reagan", gfre. (1+ / 0-)
        Recommended by:
        gfre

        That's when I knew that Obama was NO Democrat, and I decided to vote for the Green Party in the 2008 presidential election after voting for him over Hillary Clinton in the 2008 Democratic primary.

        There are very few Democrats I can politically support anymore ---- I grew up in a politically liberal (pro-labor union, pro-civil rights, pro-environmental protection, pro-feminism, pro-peace, pro-education) environment in the 1950s and 1960s with parents who were Democratic ward leaders.

        Democrats are now Republicans, and Republicans (aka self-named Party of Stupid & Offensive) are now NeoNazis, Confederates, John Birchers, secessionists, xenophobes, homophobes, racists, misogynists, pathological liars, psychopaths, idiots, Ku Klux Kristians, and escaped asylum inmates.

        •  At the time, I gave him the benefit of the doubt, (1+ / 0-)
          Recommended by:
          bleedingheartliberal218

          that he admired the breadth of the effect Reagan had, and that he wanted to move the country equally as far...but to the left.

          Obviously, I was wrong. But I don't regret my votes for Obama, and I still have hope that most of the country is waking up, albeit painfully slowly, to see what 34 years of trickle-down-your-leg-because-you-were-pissed-on-and-don't-even-realize-it-economics have done to them.

          "I think in America, the opposite of poverty is justice." Bryan Stevenson

          by gfre on Sat May 10, 2014 at 11:43:48 AM PDT

          [ Parent ]

  •  asd (0+ / 0-)

    <<<<>>>>>>
    Hi ! I am Jenna, and i will be your personal coach and will guide you in starting with an online business and earning online... So if you are interested in making $90 hourly and up to $12000 a month then follow link at the bottom and sign up and you can have your first check by the end of this week...­­WORK71.C­­O­­M

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site