Hadas: An ultra-tax on the ultra-rich makes sense 30 Jan 2019 Some U.S. politicians want to extract much more money from the topmost sliver of the population. This would amount to collecting an underpaid social debt and restoring a tarnished social contract, without much economic risk. And higher taxes now might prevent a revolution later.
China’s economic statistics aren’t fake enough 20 Jan 2017 China has posted another quarter of on-target GDP. A recent scandal involving inflated fiscal revenues in northeastern Liaoning shows how easily officials overstate performance. But the mountain of debt propping up growth and funding white-elephant projects is all too real.
Ireland’s 26 pct GDP growth merits no champagne 12 Jul 2016 Dublin’s statistics office just revised up 2015 growth from 7.8 percent to 26.3 percent. Blame foreign companies using Ireland for tax inversions. Far from a cause for celebration, it’s reason to take Irish GDP figures with a pinch of salt.
China’s new GDP formula encourages creative waste 6 Jul 2016 Including R&D spending in output calculations makes the economy look bigger. But worries about creative accounting miss the point. The real concern is that the move gives local officials an extra incentive to finance empty incubators, vapid patent mills and me-too tech startups.