Bloomberg’s Postrel reflects on McCloskey’s reexamination of
what drives economic growth over the very long run:
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WSJ’s David Wessel examines the American tax system:
Here are a few key stats from the article –
“In the 1980s, the top
5% averaged 22.6% of income and paid 28.5% of taxes.
In the 1990s, the top
5% averaged 25.3% of income and paid 34.3% of taxes
In the 2000s, the top
5% averaged 28.4% of the income and paid 40.3% of the taxes.”
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PIMCO’s Bill Gross vs. Wharton’s Jeremy Siegel on equities: