Income Inequality and Financial Crises, NYT, Aug 21

A New York Times article by Louise Story asks, “Do widening gaps between rich and poor necessarily lead to financial crises?” (Aug. 21) The answer is yes, for a reason observed over 100 years ago by American economist and reformer Henry George: Economic growth enhances the value of titles to real estate and other natural . . . → Read More: Income Inequality and Financial Crises, NYT, Aug 21

To End Deficits, Allow Localities to Raise Property Taxes

In Higher Taxes Wouldn’t End Some Deficits (Jan 20) the New York Times reported how a few state governors have timidly proposed small income tax increases. There’s a better alternative: undo the legal shackles that keep residents of towns or school districts from voting themselves higher property taxes.

Property taxes are wealth taxes, intrinsically more . . . → Read More: To End Deficits, Allow Localities to Raise Property Taxes

To Rebuild the Economy, People are the Best Investment

Louis Uchitelle is absolutely correct that President-elect Barack Obama’s spending plan may fail – or worse, backfire (“Maybe It Can’t: A Trap in Obama’s Spending Plan,” Week in Review, Dec. 21). Spending on infrastructure, even green infrastructure, is a relatively slow, low-return investment. To rebuild the economy right now, we need fast, high-return investment, public . . . → Read More: To Rebuild the Economy, People are the Best Investment