There is nothing more likely to spark anger than an unfair tax regime. The American Revolution was founded on it. So the discovery that some of the largest and most successful companies in the world — among them Google, Apple, Amazon and Starbucks – have legally minimized the tax they pay, sometimes to as low as zero, in many nations in which they earn the lion’s share of their revenue is causing considerable irritation.
Robert Fogel, who died this week, won a Nobel for economics by mining historical data and in the process shook up the study of history forever. Just as with cholesterol, it seems there is good data mining and bad data mining. Fogel’s was undoubtedly the good kind.
Whatever high crimes and misdemeanors the National Security Agency leaker Edward Snowden may or may not have perpetrated, he has at least in one regard done us all a favor. He has reminded us that we are all victims of unwarranted and inexcusable invasions of privacy by companies who collect our data as they do business with us.
Whisper it abroad: The U.S. economy is on the mend. Most recent indicators suggest that, five years after the start of the Great Recession, the “L-shaped” recovery is finally heading north. The stock market is booming, and home prices are on the upswing. The rising price of houses makes people feel richer, and consumer confidence is on the mend. Private borrowing is up, and consumers are starting to spend again.
The sickening scene from Britain of a blood-spattered man spouting Islamist hatred, who had just beheaded an off-duty British soldier in broad daylight, sends shivers down the spine. Is this the face of modern terrorism? If so, is no one safe anymore?
The trifecta of scandals — Benghazi, the IRS and snooping on journalists — that has broken upon the heads of the Obama administration is as bad as Watergate. No it isn’t, says Bob Woodward, whose reputation was made by doggedly pursuing the source of a burglary of the Democratic National Committee offices in the Watergate Hotel. No it isn’t, says Carl Bernstein, who shares the bragging rights for toppling President Richard Nixon. Oh yes it is, says Peggy Noonan, the Republicans’ mother superior, writing, “We are in the midst of the worst Washington scandal since Watergate.”
It has been a bad couple of weeks for conservative social scientists. First a doctoral student ran the numbers on the study by Harvard’s Carmen Reinhart and Kenneth Rogoff that underpins austerity and deep public spending cuts as a cure for the Great Recession and found it full of errors. Then a policy analyst, Jason Richwine, who angered Senate Republicans trying to pass immigration reform with a one-sided estimate of the cost of making undocumented workers citizens, was obliged to clear his desk at the Heritage Foundation when it became known his Harvard dissertation suggested Hispanics had lower intelligence than “the white native population.”