David Cay Johnston

America’s long slope down

By David Cay Johnston
June 20, 2012

A broad swath of official economic data shows that America and its people are in much worse shape than when we paid higher taxes, higher interest rates and made more of the manufactured goods we use.

JP Morgan’s $2 billion experiment with truthiness

By David Cay Johnston
June 11, 2012

JPMorgan Chase & Co blames its $2 billion, and maybe much larger, trading loss on mistakes made in hedging the market.¬†Bill Black, a finance criminologist, calls this “hedginess.”

The fortunate 400

By David Cay Johnston
June 6, 2012

Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each. This is one of many stunning revelations in new IRS data that deserves a thorough airing in this year’s election campaign.

How corporate socialism destroys

By David Cay Johnston
June 1, 2012

IRONDEQUOIT, N.Y. — A proposal to spend $250 million of taxpayer money on a retail project here illustrates the damage state and local subsidies do by taking from the many to benefit the already rich few.