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Articles about the work of Caroline Baum

Caroline Baum on Taxes
futureofcapitalism.com

Bloomberg News's Caroline Baum has a new column with two provocative ideas on taxes and Congress.

One is a Constitutional Amendment either repealing the 16th Amendment (the one that gave Congress the power to levy an income tax) or limiting that power: "Congress may extend no credit, deduction, or other distinction of law regarding tax rates, filing status or type of economic or business activity unless it is applicable to all taxpayers."

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Two More Tax Points
futureofcapitalism.com

Amid all the talk about the tax deal, including the complaining about it on the left, one point I haven't heard made, but that has some merit, is that if President Obama and the Congressional complainers really felt strongly about raising taxes on the rich and extending the tax cuts for everyone else, they had nearly two years to do that, and they didn't.

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Baum on Oil Prices
futureofcapitalism.com

Bloomberg News's Caroline Baum has a contrarian column about the effect of rising oil prices on the American economy:

Higher oil prices are always viewed as a negative because they crimp consumer purchasing power.

It's not a one way street. Wealth is transferred from consumers to producers and recycled.

Higher prices act as an incentive for oil exploration. Exxon Mobil Corp. buys new drilling equipment and hires more workers. Those dollars go back into the economy, they don't suck life out of it.

Because the U.S. imports about half of its crude oil, according to the U.S. Department of Energy, some of those profits end up in the pockets of the Saudi royal family and other Middle East potentates.

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Caroline Baum on the Behemoth
futureofcapitalism.com

Bloomberg News's Caroline Baum writes: "The federal government has exceeded its "enumerated powers" as outlined in Article 1, Section 8, to such a degree it's become an unrecognizable, unmanageable behemoth, with tentacles reaching into all facets of our lives."

Read More...


Caroline Baum on Taxes
futureofcapitalism.com

Bloomberg News's Caroline Baum has a new column with two provocative ideas on taxes and Congress.

One is a Constitutional Amendment either repealing the 16th Amendment (the one that gave Congress the power to levy an income tax) or limiting that power: "Congress may extend no credit, deduction, or other distinction of law regarding tax rates, filing status or type of economic or business activity unless it is applicable to all taxpayers."

Read More...


Two More Tax Points
futureofcapitalism.com

Amid all the talk about the tax deal, including the complaining about it on the left, one point I haven't heard made, but that has some merit, is that if President Obama and the Congressional complainers really felt strongly about raising taxes on the rich and extending the tax cuts for everyone else, they had nearly two years to do that, and they didn't.

Read More...


Baum on Oil Prices
futureofcapitalism.com

Bloomberg News's Caroline Baum has a contrarian column about the effect of rising oil prices on the American economy:

Higher oil prices are always viewed as a negative because they crimp consumer purchasing power.

It's not a one way street. Wealth is transferred from consumers to producers and recycled.

Higher prices act as an incentive for oil exploration. Exxon Mobil Corp. buys new drilling equipment and hires more workers. Those dollars go back into the economy, they don't suck life out of it.

Because the U.S. imports about half of its crude oil, according to the U.S. Department of Energy, some of those profits end up in the pockets of the Saudi royal family and other Middle East potentates.

Read More...


Caroline Baum on the Behemoth
futureofcapitalism.com

Bloomberg News's Caroline Baum writes: "The federal government has exceeded its "enumerated powers" as outlined in Article 1, Section 8, to such a degree it's become an unrecognizable, unmanageable behemoth, with tentacles reaching into all facets of our lives."

Read More...


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Caroline Baum

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