I have been really behind on posting some of my latest treasure trove of articles that I have been reading, but there have been some great finds in the past few days.
http://www.theatlantic.com/business/archive/2013/04/how-we-pay-taxes-in-14-charts/274979/ – The Atlantic has done a great visual piece here on how we pay taxes, including where they come from and where they go. In memorial of another tax day, it is worth looking at where our collective dollars come from and what they actually end up paying for.
I find this to be perhaps the best graph. While individual income tax percentages have stayed roughly constant as a share of total receipts (despite the marginal tax rate falling from 90% to just under 40%), there have been a lot of changes in the other sources of Federal dollars. One wonders what is driving the corporate income tax shortfall – presumably the lobbying for targetted complexity in the tax code is one driver, and the multinational nature of the modern corporation, which allows shielding of overseas profits that are not repatriated because of our tax law, is another. I’ll have to look into what is causing the change in payroll taxes, and we all know that excise taxes are next to nothing these days (100% in 1800?).
http://techcrunch.com/2013/04/14/iterations-how-five-real-economists-think-about-bitcoins-future/ – Since Bitcoin has burst on to the media scene, pundits around the globe have offered up their take on the future of the currency, and whether it is a passing fad or a sign of bigger changes to come. This article has a humorous bent, but includes some thoughts from a number of economists on the topic. A good read.?).
http://www.washingtonpost.com/opinions/margaret-thatcher-in-every-sense-a-leader/2013/04/08/6fe5dac6-9091-11e0-b3d5-067e674ea64a_story.html – Margaret Thatcher’s death has stirred up the strongest of emotions on her legacy, both from those who lauded her and those who reviled her. No matter what one thinks of her, it is impossible to doubt that she was in every sense a leader, and was able to exact surprising and powerful changes in Britain, and helped it into a position of leadership even into the 21st century.
http://www.guardian.co.uk/society/2013/apr/06/sam-parnia-resurrection-lazarus-effect – Quite different from my usual articles, but I found this a bit of a mind blowing read. It is strange to ponder how far modern medicine will be able to go.
http://www.bloomberg.com/news/2013-04-14/goldman-s-big-guns-fire-dud-in-defense-of-megabanks.html – I’d love to see a “to big to fail” bank fail. So many regulatory questions here. It is great to play “risk on” with the put always available onto the taxpayer.
I was also going to include a great article on Eric Schmitt’s perspective on drones, but it was redacted until next week by the Guardian. I’ll comment on it when it pops back up – interesting to see his take when Google has been pushing the frontier with regards to the amount of information stored and processed on what is the “public domain”.