Tag recession

The crisis of middle-class America

When the Financial Times runs a piece detailing the decline of the American middle class, you know things are getting bad. “Think of the American economy as a large apartment block,” says [a Harvard economist]. “A century ago – even…

Recessions: Better for Right Than Left

Doug Henwood For a long time, I’ve been critical of the left-wing penchant for economic crisis. Many radicals have fantasized that a serious recession — or depression — would lead to mass radicalization, as scales simultaneously fell from millions of…

Tax the poor to feed the rich

Congress is hard at work extending a set of popular tax breaks.  Those for individuals include tuition credits, sales tax credits, and real estate tax credits.  For corporations, there are credits for the construction of housing developments, and a multitude…