Gary Cohn is Donald Trump's top economic advisor; while on stage this week at the Wall Street Journal's CEO Council meeting, he called for a show of hands from CEOs who were planning to invest more if their tax bills were slashed in the new GOP tax plan.
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Joseph Stiglitz, winner of a Nobel prize in economics, describes the foolishness of enacting further tax cuts for the wealthy in America, and the structural impediments that stand in the way of Trump's pursuit of this foolish goal. Read the rest
Ian Welsh says that the USSR collapsed because its promises -- "a cornucopia and a withering away of the state" -- conspicuously failed to materialize; now, neoliberalism's promises ("If the rich have more money, they will create more jobs; Lower taxes will lead to more prosperity; Increases in housing and stock market prices will increase prosperity for everyone; Trade deals and globalization will make everyone better off") are likewise being shown to be lies, and so we're in crisis. Read the rest
It's been a year since David Cameron's Tories took control of the UK Parliament with a majority that gave their free rein to govern UK, plc to their taste. Read the rest