Taxes and Growth

Another conservative belief proven wrong with the facts. Are they ever right? I would hope so, but with this era's conservatives, it never seems to happen.

For the record, however, the most-taxed countries on Earth (i.e., the countries where revenue is the highest percent of GDP) are in order:

1. Denmark
2. Sweden
3. Belgium
4. France
5. Norway

In terms of per capita GDP these are, respectively, the 4th, 9th, 14th, 15th, and 3rd richest countries on earth while the United States is 17th. Of course in part that’s an exchange rate phenomenon and if you use PPP adjustments rather than market exchange rates, the U.S. looks better. On the other hand, if you peer into the future it seems to me that exchange rate comparisons are likely to make us look even worse in years to come. The high-tax five also do very well on things like the U.N. Human Development index.

MoDo Fails Badly

Nice evisceration of a particularly awful MoDo column. Note my comment (20. from Down Goes Pecksniff):

When I saw MoDo this morning, I fumed. She is occasionally clever, and certainly better than the neo-con crowd over at WaPo, but this was pathetic.
Matt has nailed what gnawed at me — that, according to her, Obama should treat the electorate as children. None of that wimpy, analytical, fact-finding stuff for her. AUTHORITY is what’s needed from our leaders. We had that for eight years and look where it got us. She has gone to the dark side, or maybe just the dumb side, and I’m done.

Unemployment vs. GDP Growth

It's slow and lagging. Don't buy in to the conservative line that the Obama administration is not performing on jobs.

Presidential Popularity

Great chart.

Our Failed Economic Model

These are telling charts, from the Congressional Budget Office, showing the increasing disparity of income and wealth distribution over the last three decades. The time series above is the most telling of the bunch. Is there any question about what has been wrong with the economy? We are turning into a banana republic. Has there ever been a clearer picture that "top-down" economic theories don't work for those who are not at the top?

Collecting All the Arguments for Torture

Here is the link and following is the chart. Is anybody impressed with any of these arguments? Of course the fact that torture is ILLEGAL is determinative!

Charitable Giving

This chart is frankly shocking. And this result is before the cut in charitable giving write-offs for those above $250k. I guess they weren't so generous in the first place.