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Subject: Herb Kohl
US tax policy

Why are the Super-Rich often liberals?

Colonial dining in British India, 1895.  See here, boy! Give another pull on that punkah

If we are to believe the old adage that, ‘people vote their pocketbooks’, why are so many of the Super-Rich ardent supporters of the Democratic Party?

Why do the liberal Super-Rich seem to act in a way that is so contrary to their selfish interests and economic well-being?

Here I show how capital flow analysis of the Federal Reserve flow of funds accounts provides an answer to this apparent conundrum.

Featured articles on inside pages

Stock buybacks

The Stock Buyback Era evaluated

The buyback era began when the SEC allowed issuers to manipulate prices to give value to executive options. Stock buybacks since 1982, in 2008 dollars, total $5.77 trillion. More ...

Securities Analysis

Does ‘SEC Total Return’ protect investors?

Millions of investors put money for retirement into mutual funds selected on the basis of "SEC total returns" and the name of the fund. This article explains how the SEC allows funds to use this misleading statistic to the detriment of investors and to the benefit of fund managers. More ...

US Politics

Why are the Super-Rich often liberals?

If we are to believe the old adage that, 'people vote their pocketbooks', why are so many of the Super-Rich ardent supporters of the Democratic Party? Why do the liberal Super-Rich seem to act in a way that is so contrary to their selfish interests and economic well-being? Here I show how capital flow analysis of the Federal Reserve flow of funds accounts provides an answer to this apparent conundrum. More ...

US equities

Sarbanes-Oxley and the shortage of equities

The Sarbanes-Oxley Act of 2002, by discouraging companies to go public, will exacerbate the shortage of equities, with a negative effect on the US stock market, although this was not the intent of its authors. Poorly drafted, ill-conceived, and unfair this law does little to protect investors.
More ...

US Bonds

Bond demand exceeds supply for a decade

Over the decade, 1995-2004, the demand for US bonds of all types has surpassed new bond issues in eight of the last ten years. This is the reason that bond prices have held firm, even in 2003, when net new issues reached almost $1.8 trillion. More ...

World Economy

What Is ‘International Liquidity’?

It used to be that the term 'international liquidity' meant the relative amount of resources available to a nation's monetary authorities that could be used to settle a balance of payments deficit. In the days of the gold standard, this would mean access to gold that could be used to redeem a nation's currency held by foreigners. More ...

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2010-08-13 13:04