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By Rachel Goldfarb, originally published on Next New Deal

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Cutting the Corporate Tax Would Make Other Problems Grow (NYT)

Jared Bernstein counters recent suggestions for eliminating the U.S. corporate income tax by pointing out the extreme difficulty of capturing that revenue through personal income taxes.

  • Roosevelt Take: Roosevelt Institute Chief Economist Joseph Stiglitz proposes more viable reforms to the corporate income tax.

Stigmatizing Poor Kids in Our Public Schools (PolicyShop)

Matt Bruenig suggests that free lunch at school is the target of so much ire because it's seen as a "poor people thing," even though public schools are themselves a welfare program.

When Workplace Training Programs Actually Hinder Workers (The Nation)

The low-structure, free-choice-based model of the Workforce Investment Act limits its effectiveness, writes Michelle Chen, since it doesn't allow for prioritizing funding for the best training programs.

Another GOP State May Be Signing up for Medicaid, and the Reason is Obvious (LA Times)

Michael Hiltzik says the money being left on the table is finally proving enough to get Republican governors like Wyoming's to push for Medicaid expansion even though it's part of Obamacare.

Back to School, and to Widening Inequality (Robert Reich)

Kids who live in poor neighborhoods are at a disadvantage when it comes to school funding, writes Robert Reich, so economic inequality hobbles these students from an early age.

Central Banks to Lawmakers: You Try Growing the Economy (WaPo)

Ylan Q. Mui reports that the general attitude coming out of the annual Jackson Hole gathering was that monetary policy can only do so much, and legislatures need to step it up.

Cities Can Ease Homelessness With Storage Units (City Lab)

Kriston Capps looks at an innovative program in San Diego that creates stability by providing homeless people with transitional storage where they can safely leave their belongings each day.

Originally posted to Daily Kos Economics on Tue Aug 26, 2014 at 05:01 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  Adam Smith (3+ / 0-)
    Recommended by:
    Odysseus, franklyn, Betty Pinson

    An Inquiry Into the Nature and Causes of the Wealth of Nations can be downloaded directly from the Project Gutenberg site, as well as some of John Maynard Keynes' works.

    Adam Smith's only mention of the invisible hand is in this section "every individual necessarily labours to render the annual revenue of the society as great as he can. He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it. By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain; and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.”

    What many laissez-faire proponents fail to note is that Smith was talking about individuals, not corporations. Smith was against mercantilism and against corporations, which during his time were known as "joint stock companies" which he said actually harmed the functions of the free market.

    You Don't Happen To Make It. You Make It Happen !

    by jeffrey789 on Tue Aug 26, 2014 at 07:05:59 AM PDT

    •  Very nice. Even I understood it. (1+ / 0-)
      Recommended by:
      jeffrey789

      It sounds to me as if the invisible hand is fatalistic. "... no part of his intention".  As Smith describes it, this part of the hand is greed.
      Greed, in itself, is not bad, I think. My greed is, simply, my own home, and a way to guarantee that I can maintain it. When a person is so greedy that he cares not of his neighbor...that crosses the line.

      Free Will is the only moral law.//If you have to explain snark, it's because it isn't working on one end or the other.

      by franklyn on Tue Aug 26, 2014 at 08:02:56 PM PDT

      [ Parent ]

  •  You know what else eases homelessness? (0+ / 0-)

    Actually creating space to live.

    How is it that Salt Lake City, in Utah the reddest of red states, vows to eliminate homelessness with, you know, homes?

    It's as if California has this idea that since the weather is nice, people can just live outside. As long as we make a place for them to keep their unsightly belongings, then homeless can be even more invisible.

  •  Regarding lawmakers and Yellen's comment (0+ / 0-)

    "Austerity" unfortunately become a great cover-word for doing nothing. When the sequester kicked in for example, Obama's people were pretty sure that the Congress wouldn't just sit back and let the country's finances operated on automatic pilot. But that happened. It's not just that the GOP gives us the worst legislators in US history, it also gives us the laziest. Some of this is crazy, like a sinking ship, but you can't even be bothered to fix the smaller holes, even though any fixing would at least slow the rate of submersion. For example, "royalty relief" legislation, a lobbyist-driven highly counterproductive legislation theme of the 1990s, remains on the books to this day, allowing foreign-domiciled corporations to strip mineral resources, including oil and gas, from federal lands and offshore areas, with minuscule use fees. That type of law does not benefit a single American, so you'd think some bipartisan juice could at least be found to get rid of such rules. But no, because austerity or socialism or something.  

    It is not easy to see what you are not looking for, or to know what it is you do not know.

    by kosta on Wed Aug 27, 2014 at 02:02:45 AM PDT

  •  Burger King (0+ / 0-)

    I'll wait and see what happens before I completely stop buying from Burger King, but while they're, (BK), deciding what they're going to do........they're off my list.  If they think they are going to: 1) Pay their employee's minimum wage, and 2) let me subsidize their employee's through social programs like food stamps, etc......through MY taxes, because they won't pay them a living wage of what I believe should be $15.00 per hour, and 3) then continue to spend money at their corporation when they relocate to avoid paying any taxes at all, .......then they are 4) CRAZY!

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