Mitt Romney's campaign likes to trumpet its candidate's generosity. The summary of Friday afternoon's docu-dump of Mitt and Ann Romney's 2011 tax returns hailed the couple's "generous charitable donations". They made $13.7 million and donated $4 million, which is impressively described as "amounting nearly 30% of their income".
Last week I was invited to hear Joe Stiglitz talk on “God, hope, happiness, death, suffering, values, grace, and evil” at Union Theological Seminary. With a menu like that, how could I resist?
Bill Cohan declares, today, that the money JP Morgan lost in its infamous “London Whale” trades actually belonged to depositors. He’s wrong about that.
Amanda Ripley has a thoroughly (if inadvertently) depressing story in the new Atlantic about the rise in the way in which teachers are evaluated by means of multiple-choice tests given out to students. She says the idea is “revolutionary”:
I’m delighted to welcome Jesse Eisinger to the ranks of people who think it’s high time that we abolished — or, at the very least, significantly curtailed — the tax deductibility of interest. Paul Volcker was an early member; the CBO has been making the case for a while; and Treasury has been very explicitly in favor since February.