Forecasts for tomorrows headline CPI: Median economist est - 2.6% Cleveland Fed nowcast - 2.56%

2.5% - Annual CPI better than expected

I drew you a picture and hope you like it.

In the first 11 months of FY24, for every $1 in taxes collected, 19 cents was spent on servicing public debt. If you combined all federal transport spending, federal education spending, & all veterans benefits & services, it still wouldn't come close to debt interest spending.

I seem to have missed the 4th question. Widespread use of price controls creates substantial economic distortions. Agree = 99% Disagree = 0% *Advocates of rent control wont like this one...

The complexity of the Federal tax code costs the treasury ~$600bn a year in lost potential revenues. The Biden admin just added another 603 pages of proposed tax rules, definitions, and calculations. wsj.com/politics/polic…

Another study on fiscal inflation: "evidence largely corresponds to the period when the pandemic fiscal packages were adopted and suggests that these transfers had long-lasting effects on inflation and contribute to explaining the persistence of core services inflation."

🚨 Removing the SALT cap would increase the cost of TCJA extension by $𝟏.𝟐 𝐭𝐫𝐢𝐥𝐥𝐢𝐨𝐧. Via CRFB.org crfb.org/blogs/salt-cap…

Re-posting my SALT explainer from last year. The correct policy is to repeal the SALT deduction entirely. It's an inefficient subsidy to high-tax states. The cap was a compromise. Lifting it makes extending and expanding the tax cuts in 2025 harder. cato.org/blog/understan…

Correct! I wrote about this last week. Feeding the rich, masquerading as soaking the rich. reason.com/2024/09/10/kam…

99% of the benefits go to earners making >$100,000 a year. 68% of the benefits go to an even smaller group of less than 1.5 million earners making $500,000+ a year. It also contributes to economic segregation by subsidizing wealthy communities at the expense of poorer.

These people have zero self-awareness. Jonathan Reynolds telling *Jeff Bezos* and *Amazon* what's best for their business! The arrogance is utterly astounding. Drunk on power.