World-News

Dean Baker, Truthout: "The new consensus among the experts who missed the housing bubble (EMHB) is that Treasury Secretary Tim Geithner's plan to subsidize the purchase of junk mortgages and their derivatives will help alleviate the stress on the banking system.... Oh, by the way, some people will get very rich off the Geithner plan. Some hedge and equity fund managers could make hundreds of millions or even billions off the Geithner plan. And, under current law, they will pay a lower tax rate on this money than a schoolteacher or firefighter. Are you sold yet?"

http://www.truthout.org/033009A



Pay for Play? Tax Credits for Paid Time Off

Dean Baker, The Center for Economic and Policy Research: "Economists are increasingly coming to the recognition that the current downturn is likely to be longer and more severe than they had expected at the time the last stimulus package was approved in February. As a result, there is likely to be interest in additional stimulus in order to boost the economy and lower the unemployment rate. This paper briefly outlines a method for Congress to quickly boost demand in the economy, while at the same time promoting important public ends: an employer tax credit for paid time off."

http://www.truthout.org/033109A



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