New law to show who qualifies for a PPP loan
This article, provided by the Wagner Law Group, explains the modifications made to the Paycheck Protection Program (PPP) by the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues...
Politics
Treasury Nominee Janet Yellen (the Un-Steve Mnuchin)
Yellen, the first woman nominated for Treasury chief, is an academic economist, not a Wall Streeter. As Fed chief, she was known as an interest rate “dove;” more inclined...
Biden’s Retirement Policy
Biden has made strong promises about fixing Social Security, strengthening labor unions, and helping to finance a green economy. Will he be able to keep those promises? Does he...
The ‘Securing a Strong Retirement Act of 2020’
The House has introduced a sequel to last year's SECURE Act. Once again, legislators have listened to the retirement industry and tried to remove what the industry considers obstacles...
A Look at Biden’s Social Security Plan
There's more to Biden's proposal than raising payroll taxes on >$400k earners. The wealthy would see their benefits go up more in dollars, while the poor would see theirs...
Long Guns as Leading Indicators
In past election periods, when I’ve canvassed door-to-door, some people have told me they won’t bother to vote because politicians are all alike. But they aren’t.
Two Cheers for DOL’s Lifetime Income Disclosure
The Department of Labor's 'interim final rule' on disclosure of estimated lifetime income from 401(k) balances is welcome, but it lacks a critical feature. Public comments might improve it.
We Could Use Some Inflation
The Treasury said this week that it will borrow (and spend) about $3 trillion this quarter, to cover its stimulus promises. Where does that money come from and where...
Please Don’t Raid Your Retirement Account
It would be smart, not paternalistic, to ease today’s financial pain without contributing to an even bigger retirement funding crisis down the road.
The ‘Fed Put’ Hurts Annuities—and Retirees
Low rates encourage excessive risk-taking. But the Fed keeps accommodating market sell-offs, which sets up a new round of boom and bust. Retirees (and the annuity issuers who serve...
An Imperfect Demand Stimulus
While the Great Depression of the 1930s saw a massive contraction in demand, the current crisis entails a massive shock to the economy’s supply side, writes our guest columnist,...
Why Bernie is So Demanding
Sen. Sanders is the atavistic avatar of demand-side economics, which dominated public policy from 1932 to 1971. Supply-side economics has held sway since the Reagan years. The 2020 election...
Mike Bloomberg’s Retirement Security Plans
Bloomberg favors a public-option national workplace savings program, modeled on the federal Thrift Savings Plan. Its government match would be paid for with 'a reduction in the tax break...
The SECURE Act Set To Pass (Finally)
'This is an early Christmas present,' said Melissa Kahn, managing director of the Defined Contribution team at State Street Global Advisors (SSgA), in an interview yesterday.
The Seeds of Inflation are Beginning to Sprout
'Trump’s inconsistent trade policies and persistent badgering of Fed Chair Powell and his colleagues has undermined business confidence,' writes our guest columnist, an economist.
Mr. President, Please Stop Tweeting!
'If, as appears, Fed policy is truly being influenced by pressure from Trump, then we will have reckless monetary policy combined with fiscal policy that is out of control,'...
Modern Monetary Inevitabilities
'Debt resulting from tax cuts that are spent on mega-yachts would almost certainly be excessive; debt incurred to improve educational outcomes, maintain essential infrastructure, or address climate change would...
Concord Coalition blasts Trump budget proposal
'Non-defense appropriations, which make up roughly 16% of the budget, would be reduced by more than $1 trillion over 10 years. Nothing in recent experience would suggest that cuts of this...
New York proposes public-option IRA by 2021
Fewer than half of working New Yorkers have access to a retirement savings plan at work and 40% of New Yorkers ages 50 to 64 have saved less than...
