Capitalism creates CRISIS!

Course Blog for Soc 3151: Social Issues and Social Policy at Baruch College

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Archive for September, 2008

Taxs

Comparing the candidate tax plans.
Today many of us declared out political stand points and i thought it would be interesting to connect that to the upcoming elections and the presidential candidates tax proposals
Here are some things that I found interesting from http://www.urban.org/UploadedPDF/411693_CandidateTaxPlans.pdf
· The two candidates’ plans would have sharply different distributional effects. Senator [...]

Audit Rates

I tried to collect some info on IRS audits…  I couldnt find a published number, but I did my own rough estimate based on IRS numbers, and it looks like an EITC return is about 8-9 times more likely to be audited  – at least in 2002.  (.26% vs 1.86%)  Here is other info
Apparently the [...]

Oh my god it’s a constitutional crisis

I couldn’t find anything really brief on this so I will write it out, hopefully shorter:
Ketchup says, “For one thing, the emergency nature of the crisis, the lack of prior long-term planning, and the early New Deal’s flexibility meant that nothing new was really in place until the late 1930’s.”  Eh, I don’t think so.
Before [...]

Roosevelt establishes the NRA so we can shoot poor people.

When they said that Roosevelt established the NRA, I was like WT_?  Here’s the word:
The other part of the National Industrial Recovery Act (NIRA) was the National Recovery Administration (NRA), whose task was to establish and administer industrywide codes that prohibited unfair trade practices, set minimum wages and maximum hours, guaranteed workers the right to [...]

Foodstamps

i was taking the A train how from work today and when i was changing a song on my ipod i overheard something that reminded me of this class. there was three women and the train and they were talking and i heard one say to the other that “I’m on foodstamps.”  they were talking [...]

Vogue India’s Spread Controversy

To get a idea of the life of poor people in India..Watch this video..


(one thing about the video is that i dont understand why the people have to be converted..)

Man Holding Burberry Umbrella

Woman Holding $10,000 Hermes Bag
 

Women wearing designers shoes valued above $1,000 each

Baby wearing $100 Fendi Bib
Hey guys, this [...]

Census Data

You can play around on the Census website for current data on poverty in the US…

From Economic Policy Institute

See Snapshots archive.

Snapshot for January 31, 2007.
Minimum wage increasingly lags poverty line
by Liana Fox
The recently released 2007 federal poverty guideline highlights the severe and growing inadequacy of the minimum wage. Currently, a full-time minimum wage worker (40 hours/week, 52 weeks/year) would earn $10,712 a year, falling nearly 40% below the $17,170 poverty level for a [...]

Poverty Line

So this is the 2007 poverty line. What do you think about it? Is it realistic? How much lower or higher would it have to be to actually delineate who is or is not poor? Or is that even possible with one set of numbers?

how taxes would change under each presidential candidate

I saw this article on cnn.com and thought the chart was particularly helpful.  Disclosure: I do not know if people generally consider cnn.com or The Tax Policy Center are especially aligned with certain parties or ideologies.  Also, this article is from June 11, 2008, so there might have been revisions.  But I thought it would be helpful. [...]

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RSS Naked Capitalism

  • Links 11/22/09 November 22, 2009
    Unburied bodies tell the tale of Detroit — a city in despair Times Online Economists: Wrong Again Michael Panzner The illusion of improving global imbalances Richard Baldwin and Daria Taglioni, VoxEU (hat tip reader Don B) Unemployment rates rise in 29 states CNN (hat tip reader John D) Wall St. Finds Profits Again, Now by Reducing Mortgages Louise [...] […]
  • Antidote du Jour November 21, 2009
    Apologies for absence of links! Hope to be back to closer to usual programming early next week. […]
  • Stop the madness now! November 20, 2009
    By Edward Harrison of Credit Writedowns. A reader at Naked Capitalism asked us to respond to a recent article from the Christian Science Monitor asking Does US need a second stimulus to create jobs? Marshall Auerback has already done some heavy lifting – and taken all of the heat in the comments. He says emphatically yes. Now [...] […]
  • Dodd: Bernanke Confirmation “Not Necessarily” a Foregone Conclusion November 20, 2009
    This clip is from an interview with blogger Mike Stark. Apologies for the poor sound quality. While Dodd indicates that he is “inclined to be supportive” of Bernanke, he is surprisingly cautious about making a broader statement, a sign of a shift in sentiment. […]
  • Ivy Zelman: “Home prices are going back down” November 20, 2009
    By Edward Harrison of Credit Writedowns. Yves is stuffed again today, so I am going to post at least once or twice. Hopefully, we will also see something from Jesse or George as well. This is a post I wrote overnight about rising delinquencies and shadow housing inventory. I am not convinced house prices [...] […]

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RSS Naked Capitalism

  • Links 11/22/09 November 22, 2009
    Unburied bodies tell the tale of Detroit — a city in despair Times Online Economists: Wrong Again Michael Panzner The illusion of improving global imbalances Richard Baldwin and Daria Taglioni, VoxEU (hat tip reader Don B) Unemployment rates rise in 29 states CNN (hat tip reader John D) Wall St. Finds Profits Again, Now by Reducing Mortgages Louise [...] […]
    Yves Smith
  • Antidote du Jour November 21, 2009
    Apologies for absence of links! Hope to be back to closer to usual programming early next week. […]
    Yves Smith
  • Stop the madness now! November 20, 2009
    By Edward Harrison of Credit Writedowns. A reader at Naked Capitalism asked us to respond to a recent article from the Christian Science Monitor asking Does US need a second stimulus to create jobs? Marshall Auerback has already done some heavy lifting – and taken all of the heat in the comments. He says emphatically yes. Now [...] […]
    Edward Harrison
  • Dodd: Bernanke Confirmation “Not Necessarily” a Foregone Conclusion November 20, 2009
    This clip is from an interview with blogger Mike Stark. Apologies for the poor sound quality. While Dodd indicates that he is “inclined to be supportive” of Bernanke, he is surprisingly cautious about making a broader statement, a sign of a shift in sentiment. […]
    Yves Smith
  • Ivy Zelman: “Home prices are going back down” November 20, 2009
    By Edward Harrison of Credit Writedowns. Yves is stuffed again today, so I am going to post at least once or twice. Hopefully, we will also see something from Jesse or George as well. This is a post I wrote overnight about rising delinquencies and shadow housing inventory. I am not convinced house prices [...] […]
    Edward Harrison