The 2004 tax holiday only made things worse because companies realized they could get out of paying taxes entirely if they moved profits offshore and held out until the next holiday season. If we do it again, every company will be compelled to move jobs, factories and profit centers out of the country to stay competitive.
Together, we must urge our elected officials to implement accrual accounting principles at the federal level so that our nation can finally have accountability based on accurate financial information.
With all due respect to Sen. McCain, I have a different take on this. I, too, am outraged by the lack of care that many of our veterans have received, but I'm not at all bewildered by it. In fact, I saw it coming for years.
It's great to look for savings that still preserve the quality of the service provided by SSA. But a route that will make it difficult for beneficiaries to talk to a human being doesn't fit the bill.
With important issues facing our nation, very little is getting done. And for our nation's children, stalemate in Congress precludes action on addressing a wide array of problems.
Even if a bank had never officially employed Geithner, his attitudes and concerns clearly reflect those of the financial industry. This comes through in matters big and small.
It took centuries to get people to understand the earth orbits the sun. If it takes as long to get the public to understand and our politicians to understand the economy, billions of people will suffer needlessly.
The House Ways and Means Committee voted this week to add $310 billion to the U.S. deficit by making permanent six tax credits for businesses. To put their fiscal irresponsibility into context, $310 billion represents half of the entire federal deficit this year -- which is the lowest it has been since President Obama took office.
Globalization and economic integration have created a new weapon and a new deterrent: the potential use of the marketplace against an aggressive nation state.
Budgets are about priorities. Despite Chairman Ryan's rhetoric on fighting poverty and boosting opportunity, no fair-minded observer can claim that his proposals actually reflect those priorities -- or sugarcoat their harsh impact on tens of millions of low- and moderate-income Americans.
Basic budget arithmetic suggests that House Budget Committee Chairman Paul Ryan's coming budget will be at least as extreme as his budget last year, and likely more so.
Recently, while avoiding some homework, I came across a video of a presentation given at Bowdoin College. I was cautious, at first, about clicking "pl...
For the first time since the '30s, the 99 percent stood up and pointed out the real culprits -- Wall Street and the politicians they own. People listened, they heard, and began to believe.
As one of the leading experts on work and the economy, he shares his thoughts on the state of jobs, income inequality and more.
While we absolutely need to continue to tackle our long-term budget deficit and debt challenges fairly and responsibly, we now have some breathing room to also focus on the other deficits facing our country.
We have been getting significant positive economic news of late, but here is one you may have missed because for some reason it has not generated much media coverage. Our nation's current account deficit -- the trade deficit -- in the last quarter of 2013 was the lowest it has been in 14 years.