The 2026 IRS tax brackets, standard deductions, and long term capital gains have been inflation adjusted.
Married filing jointly standard deduction increases to $32,200.
All gold profits are taxable up to 28%, which is higher than the capital gains tax. The net investment-income tax is not inflation adjusted.
AP is reporting that the nomination of EJ Antoni as Chief of Bureau of Labor Statistics has been withdrawn by the White House.
As we, and many economists, have written is was particularly unqualified.
Considering he was nominated because Trump was unhappy with accurate statistics, we can only wonder if someone worse or more nefarious will be nominated in place of Antoni.
Here are the speeches, video remarks, papers and handouts as well as handouts and remarks by the ECB, Bank of England, and Bank of Japan to supplement panel discussions.
Expectations based on Powell's presentation will result in rate cut at the next meeting is probably over exuberant. It will be data driven and, if inflation is up and employment is down, it will be a fifty/fifty call for a 25 basis point cut or a hold.
I particularly like the Saturday papers, especially the one on the Taylor rule.
The Powell, Lagarde, and Ueda comments are instructive.
On Paul Krugman's substack, he has seven posts on Understanding Inequality which are paywalled.
Inequality has been a intrinsic economic interest of mine as well as social economic change, however peaceful, evolving, or violent it might be. You can read Saez, Zucman, Piketty, Stiglitz, as well as others and they are all struggling with multiple interacting variables which change in real time. I wish I had had the opportunity to study with James Tobin.
Consequently, understanding economic inequality causes and consequences is an unending project requiring different inquiries and perspectives.
Paul Krugman is adding his voice in a mainstream format for everyman to think about inequality and his seven posts, not paywalled, can be found at the CUNY Stone Center. When you follow the redirect and page down on Krugman's page you will come to Selected Work where you will choose News and Commentary. There you will find the posts listed down from the seventh.
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