Sliders Will Take Your Bodyweight Exercises to the Next Level

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If you’re bored with the same old bodyweight exercises, you can pump them up with two simple objects. Sliders are slippery disks that go under your hands or feet. They challenge you to keep yourself stable, turning ordinary moves into serious workouts for stabilizing muscles.

In the photo above, allowing your feet to slide means you can use your abs to pull your legs toward you. It’s a move you may have done before on an exercise ball, but a pair of sliders is a lot more convenient to store.

Greatist has 30 more moves where this one came from, and the only equipment they require is a pair of sliders and a surface they can slide on. Some sliders are soft and are made for smooth floors, while others are smooth and are made for soft floors, like carpet. You can also improvise: a pair of folded dish towels works well on hardwood, or try two old frisbees or plastic dinner plates on carpet.

Photo by Greatist.

31 Bodyweight Exercises Using Sliders | Greatist



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These Are The 10 Most Crowded Trades According To UBS

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In this market, where fundamentals long ago ceased to matter, and where positioning remains one of the few remaining sources of alpha, investors have been focusing on lists showing the most over and under-owned stocks. However, contrary to the narrative that the most heavily owned stocks outperform the most shorted, or underowned ones, and vice versa, just last month BofA calculated that for the third year in a row, "the Top 10 most overbought stocks have trailed the S&P for each of the past three years, while the Top 10 "most neglected" stocks outperformed the S&P on average by 11.6%."

This is what BofA's quant team found:

As flows from active to passive funds have accelerated, one strategy that has worked unusually well for the last several years is a simple positioning trade of selling the 10 most overweight stocks and buying the 10 most underweight stocks by active managers. This single trade has yielded over 16ppt of alpha year-to-date. And implied derisking/ outflows on Brexit alone have been fierce, with the same strategy generating 5.2ppt of alpha just since last Thursday’s close. Even if Brexit’s impact on funds is limited from here, we believe that crowded stocks will likely continue to underperform neglected stocks: a whopping two-thirds of US large cap AUM still resides in active funds - there is likely a lot more to go in the rotation from active to passive.

Visually:

As such, a useful trading framework, would be to look at the Top 10 most crowded trades of active managers - on either side of the ledger - and to short the 10 most overweight, while going long the 10 most underweight stocks.

Conveniently earlier today, UBS updated its list of the Top 10 most crowded trades, revealing "where are the largest active positions."

As UBS' Shanle Wu says, we highlight the stocks that are most overweight and underweight by global active fund managers across different regions and countries, including global (Figure 1), major developed markets such as US, Europe, Japan and Australia (Figure 2), global emerging market (Figure 3), and Asia ex-Japan region and the ten major markets in the region (Figure 4).

How does UBS  measure the most active positions?

Using the institutional ownership data provided by FactSet, we form an active trading portfolio by aggregating positions across global active managers. Essentially, we sum up all the holdings in dollar value across all the active managers and calculate the weights of stocks in this active trading portfolio. We then compare this weight with the relevant equity index benchmark to form the active weight.

So, without further ado, here are the Top 10 most over and underweight stocks globally...

 

... broken down by major developed markets:

 

... by emerging markets:

... and finally Asia

Source: UBS



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UC-Boulder Suspended Student for Rape, Before Interviewing Alleged Victims

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Queen of HeartsThe University of Colorado-Boulder expelled a student for sexual assault—even though his alleged victims never accused him of anything.

Working off of an anonymous tip, a particularly vindictive Title IX administrator launched an investigation into the male student and concluded that he had raped two different female students—students who never filed complaints. The first victim, in fact, was initially unable to recall whether they had engaged in sexual activity at all.

The male student—referred to as "plaintiff" in his lawsuit against UC-Boulder—was denied the right to cross-examine the two women, properly review the evidence against him, and appeal the administrator's decision. He was subjected to an astonishingly unfair adjudication process that ignored his due process rights at every turn and presumed him to be guilty from the start.

This isn't the first case I've seen where Title IX administrator disciplined a student for sexual assault despite the fact that the victims never filed a complaint. It bears some similarity to a case at Colorado State University-Pueblo, where a male athlete was suspended for years for raping his girlfriend, even though the girlfriend never complained and in fact stated unequivocally, "I'm fine and I wasn't raped."

In the UC-Boulder case, the Plaintiff was suspended from campus pending an investigation into allegations that he had sexually assaulted two female students, uncreatively referred to as "Jane Doe 1" and "Jane Doe 2." The impetus for the investigation was an anonymous phone call made to Christine Gonzalez, a Title IX coordinator at UC-Boulder. Note that the plaintiff was suspended two days after Gonzalez received the call—well before the university even bothered to interview Does 1 and 2 to determine whether the accusations were merited, according to the lawsuit.

The investigation was conducted by UC-Boulder Title IX Investigator Alexandra Tracy-Ramirez. The plaintiff's lawsuit argues persuasively that Tracy-Ramirez was biased against him from the start and determined to find him responsible for sexual misconduct, independent of whatever evidence she turned up. Her interviews with Does 1 and 2 are confusing—or at least, the summaries of them are confusing, according to the lawsuit. Doe 1 told Tracy-Ramirez that she couldn't remember meeting up with the plaintiff on the night in question, but "felt like she had engaged in intercourse" the following morning.

A couple things caused her to re-contextualize the alleged encounter as rape: the plaintiff started telling his fraternity brothers that he had slept with her; she began dating a fraternity brother who disliked the plaintiff; and she had a conversation with Doe 2. It's unclear whether Doe 1 was intoxicated during the encounter. Indeed, it's not completely clear the encounter took place at all.

As for Doe 2, the second victim "did not meet with the investigator or provide a detailed account of what happened," according to the lawsuit. Tracy-Ramirez told Doe 2 over the phone that she believed the plaintiff had engaged in nonconsensual sex with Doe 2. Doe 2 eventually "confirmed this account," though she avoided Tracy-Ramirez's calls for weeks, according to the lawsuit.

After suspending the plaintiff, Tracy-Ramirez summoned him to appear before her in person. He would have just this one chance to prove his innocence to her. His lawsuit notes that he was not fully aware of the charges against him at this point—he didn't know what Doe 1 had told Tracy-Ramirez. (The investigator hadn't even spoken with Doe 2 yet.) During the meeting, Tracy-Ramirez summarized Doe 1's account and said that "any information he provided after the meeting would not be considered as part of his defense," according to the lawsuit.

It's little wonder that Tracy-Ramirez eventually decided—based on a preponderance of the evidence standard—that the plaintiff was guilty: at no point did the university equip him with the tools to defend himself. Twisting the knife a bit further, the university denied the plaintiff the right to appeal.

This is just one side of the story, and indeed, it's perfectly possible that the plaintiff committed sexual misconduct against one or both of the Does. But the university relied upon an investigative model that wasn't merely ill-equipped to determining the truth—it was positively opposed to the principles of justice. This is the Alice in Wonderland method of conducting a trial:

'Let the jury consider their verdict,' the King said, for about the twentieth time that day.

'No, no!' said the Queen. 'Sentence first—verdict afterwards.'

The College Fix has more details on the lawsuit here.



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Ask an Expert: All About the Ergonomics of Standing Desks

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Standing desks have practically become a cliche of lifehacking, with some people swearing by their benefits and others reclining in apathy towards the productivity platforms. But do standing desks have real ergonomic benefits?

Here to help answer those outstanding questions is Jon Paulsen, MS, CPE, a certified ergonomist, engineer, and founder of The Human Solution and UPLIFT Desk. Jon has been designing ergonomic work environments for years and can offer some insights as to why some people really benefit from standing while working and the different types of desks you might want to try. Whether you’re on the fence, already a devotee, or are skeptical, Jon and his team will be here for the next hour so leave a question below.

Have an expert you’d like to see participate? Email us. Image by Henry Rivers via Getty.



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Should people over 40 work a three-day week?

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Working full-time after the age of 40 is not good for the brain. Doing more than three days a week once you reach this age can damage your ability to think. A paper from the Melbourne Institute of Applied Economic and Social Research says that, while working up to 30 hours a week is good for the brains of the over-40s, do any more than that and it goes downhill. If you were to work 60 hours a week, your cognitive ability would be worse than that of someone who didn’t work at all. Still, on the plus side, you would have more money than them.

The researchers used data from more than 3,000 men and 3,500 women who completed the national Household Income and Labour Dynamics in Australia (Hilda) survey. The survey tested the ability to read words aloud, recite lists of numbers and match letters and numbers in a speed trial. Testing reading is a measure of the “knowing” part of ability, says lead author Prof Colin McKenzie, while the other two tests capture fluid intelligence – the “thinking” part of ability that includes memory, abstract reasoning and executive reasoning.

This lowering of scores in those aged over 40 who work full-time doesn’t fit with the idea that working for longer helps people stay mentally sharp, or with the notion of “use it or lose it”. So, should those who can afford to work less from the age of 40 reduce their hours?

The solution

Most of us have to keep working full-time. But does it matter what sort of job you do? Is your ability to think preserved, as some research suggests, if you have an intellectually demanding job? The Hilda survey doesn’t ask questions about the quality of work, and McKenzie says it’s hard to tell: “It’s very difficult to identify the causal effects of the type of work on cognitive functions. People may be selected into certain occupations according to their cognitive abilities.”

It’s also not clear why working more than 30 hours is not good for your brain, while fewer hours is beneficial. McKenzie says that work can be a double-edged sword. “While work can stimulate brain activity, long working hours can cause fatigue and stress, which potentially damage cognitive functions. Full-time work (40 hours a week) is still better than no work in terms of maintaining cognitive functioning, but it is not maximising the positive effects of work,” he says.

Results may also vary between countries, depending on how much holiday people can take each year. It’s hard to control for all the factors that might bias a study such as this (including choices around the hours worked and the type of work), but it makes the idea of working full-time until the age of 67 – which the government aims to bring in between 2026 and 2028 – even less appealing.



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The Best Note Taking Apps for Students

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Whether you’re in high school or college, you spend a lot of time taking notes. You have several excellent options for doing so, and which works best for you depends a lot on your note taking style. It’s best to pick software and stick to it so you don’t to worry about moving stuff around later. Here’s how to make the right choice from the outset.

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Whether you’re headed back to school this fall or you just want a better way to keep your notes,… Read more Read more

Evernote’s the Most Feature-Packed Notes App, Provided You Don’t Mind Paying

Evernote has long been the go-to for students, and while it’s not always obvious how you’d use it, once you get the hang of it, Evernote’s a great place to dump everything, which means notes, to-do lists, audio, images, and more.

Evernote does a lot. On top of the basics, like rich text formatted notes and images, it has in-app image annotation, OCR support for scanning paper or whiteboards, email integration, easy notes sharing, a web clipper, and tons of organization tools. You can keep to-do lists with assignments, then add due dates to those assignments before you share that list with people involved in a group project. Evernote is a behemoth and because of that, it has a consistently improving interface on Windows and Mac, and mobile apps on Android and iOS that are updated with new features often. Evernote’s meant as a catch-all filing cabinet for every thought, idea, and image you come across in your daily school life.

The everything-bucket nature of Evernote means it’s overwhelming for some people and it takes some effort to really master it. It also has so many different organizational methods that it’s easy to spend more time trying to decide where to put a note than it does to actually write it. It can also be a bit slow and cumbersome, especially if you’re trying to use the mobile apps on older devices.

The other big catch with Evernote comes in the form of a recent price increase. Now, free users are limited to accessing Evernote on just two devices, like your phone and your computer. If you want more than that, you’ll need to shell out for a premium plan. Thankfully, premium plans are currently 75% off for students for a full year (which should translate to about $18 for the year).

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For years, I kept hearing how awesome Evernote was: how it could store everything you possibly… Read more Read more

OneNote Is Free and Works Even Better If You Use Microsoft Office

Microsoft’s OneNote has come a long way in recent years and it easily goes toe-to-toe with Evernote in features. Even though OneNote is part of Microsoft Office, it’s still entirely free, which makes it an excellent option for students. It’s even more appealing if you’re already using Microsoft Office for most of your schoolwork. OneNote is available as a desktop app and a web app, as well as for Android and iOS.

Like just about every other Office application, at a glance, OneNote’s a complicated app to work with. You’ll find it has tons of menus, tabs, and options. While it’s overwhelming to start, OneNote’s great for anyone who likes to really dig in and organize notes. You can create separate notebooks for every class, add rich text formatting to text, draw on notes, highlight text, and tons more.

If you’re actively using the rest of Microsoft Office, OneNote really shines because the whole ecosystem is hooked together. You can embed tables from Excel, pull clips from emails, or link research to Word. OneNote also does a lot of the magic tricks that Evernote does, including importing images into notes, drawing directly on notes with a stylus, recording audio to notes, and easily saving links from any browser. You can also share notes with other classmates easily.

Like most of Microsoft apps, OneNote’s biggest downfall is its massive scope. It’s packed with menus, which means quickly scribbling down an idea is out of the question. It’s also not particularly pleasant to look at and between the awkwardly colored tabs and the vibrant purple color-scheme, a lot of people might be turned off by the design alone.

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Microsoft OneNote has been one of our favorite note-taking apps for years, and it keeps getting… Read more Read more

Google Keep Is a Free Short Form Notes App

Google Keep is Google’s free note taking app that’s made to capture notes, lists, photos, and audio. On top of the web version, it’s available on both Android and iOS. We’re big fans of Google Keep because it sits in a middle ground between complex notes apps like OneNote or Evernote, and simple apps like Simplenote.

Google Keep does pretty much everything you expect of a notes app from Google. You can organize notes easily using a color coded system, look for anything with a powerful search engine, share notes with others, and everything is synced up to your Google account. Students will appreciate the simple voice recording options and the ability to scan images into text easily, which comes in handy when your teachers still give you handouts. Keep also has a clipping extension so you can add URLs to your notes, which should be a huge help when you’re researching different topics.

Unlike Evernote and OneNote, you don’t need to spend a significant amount of time learning how to use Keep. Just load it up and it immediately makes sense. It’s also well hooked into the Google ecosystem so do something like saving emails from Gmail work seamlessly, though there’s still no direct integration with Google Drive.

There are other downfalls that stem from that simplicity, like the fact you can’t format text, you can’t organize notes into different folders, and Keep doesn’t works great for larger blocks of text. Keep’s best for those who don’t mind using the search function to find notes and who aren’t too verbose with their note-taking in general.

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When Google Keep launched, it never got the fanfare it deserved. The people that did review it… Read more Read more

Simplenote Is Best If You Only Want to Store Text

Not everyone wants to take massive, complicated notes. Some people just like to write down a few sentences. For that, we’re fans of Simplenote. Simplenote is free on Windows, Mac, iOS, and Android.

Simplenote is basically a plain text editor with small organizational tools. You can only type text, with no formatting. You can’t add images, audio, or video. You can’t add web clippings or integrate emails. That said, you can organize notes with tags, and the simplicity of plain text means Simplenote’s search is robust and fast.

That’s it. That’s all Simplenote does. The scarcity of features is a feature in itself though, and if you’re taking classes where you’re just taking basic text notes, Simplenote is all you need.

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Plain text has long been a favorite here at Lifehacker, but over the years most people have moved… Read more Read more

Pen and Paper Are Still Great

Look, you’re probably spending an inordinate amount of time staring at your screen these days. You’re writing papers every other day, taking a couple of classes online, and when you’re not busy being crushed under a mountain of homework, you’re zoning out watching Netflix. Which is all to say, sometimes the best notes app is no app at all, it’s just a normal notebook.

Good old pen and paper can be useful for other reasons too. For one, if you’re easily distracted, a notebook has the benefit of not having access to the internet. Notebooks are also surprisingly customizable, with lots of different organization methods like Bullet Journal or line edges. Notebooks also allow you to take notes in any style you prefer for every subject, whether that’s creating columns, mind maps, or whatever else.

Pen and paper does have plenty of problems too. You can’t search through notes, easily share them with classmates, or access them from a variety of devices if you accidentally forget your papers at home. Many people can also type much faster than they can write, which means you’ll need to pay more attention to what you write to keep it short.

You’ll still need to pick out a good notebook and pen though. You have a ton of options here, but Moleskine’s are a popular favorite and come in a variety of sizes with different types of paper. Pens are perhaps less important to most people, but if you’re looking for a popular pick, Pilot pens are always a solid choice.

Photos by: Chris Lott, Guudmorning!



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Is the U.S. Due for Radically Raising Taxes for the Rich?

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In one of the biggest moments of of Hillary Clinton’s convention speech, the Democratic nominee promised that under her presidency, “Wall Street, corporations, and the super-rich are going to start paying their fair share of taxes.” The crowd went wild.

This idea, that the wealthiest Americans have been helped along financially by their ability to  shortchange the tax system, is a popular view at a time when the divide between the richest and everyone else continues to grow. According to a Gallup poll, 63 percent of Americans say the distribution of money and wealth is unfair, and just over half favor higher taxes on the rich.

It’s clear that many people believe that it’s time to lessen inequality. But what’s the best way to proceed?

“I think it is high time for the U.S. to push up the top tax rate,” Emmanuel Saez, a Berkeley professor who is one of the country’s top experts on wealth accumulation, told me. After all, the top tax rate right now, 39.6 percent, is much lower than the 70 percent rate that existed through much of the period between the 1930s and 1970s, when wealth was more evenly distributed in the United States. This might suggest that if economic equality is truly the goal, perhaps tweaking the tax rate might help.

The trouble is, taxation remains one of the most contested issues in modern political conversation. There are plenty of people who would argue that raising taxes may do more harm than good to the economy. If the rich are taxed more, they may become even more motivated to move their money offshore or to accounts where it can’t be tracked. That could mean less revenue for the government and government services in the end. And if the wealthy aren’t making, or keeping as much money—some say—the result could be a reduction in economic activity, with less capital available for entrepreneurship, leading to lower rates of business formation and fewer jobs. If true, that would be bad for the entire economy, especially low-wage earners.

But there is historical evidence that suggests these fears may not be more conjecture than actual threat. The U.S. economy is becoming less entrepreneurial over time, suggesting that the wealthy aren’t creating new businesses with all that extra money that used to go to taxes. And in the past, raising top tax rates hasn’t actually depressed economic activity or caused people to stash more money offshore. History also suggests that increasing top tax rates reduces inequality.

Compare, for example, taxation in the United States and Denmark in the periods 1975 to 1979 and 2004 to 2008, as Thomas Piketty, Emmanuel Saez, and Stefanie Stantcheva did in a 2011 paper. In the United States of the 1970s, the top bracket was taxed at a rate of 70 percent, compared to 39.6 percent today. During the latter half of the 1970s, the top 1 percent of earners accounted for around 8 percent of Americans’ total income. Denmark taxed its top earnings similarly, at around 65 percent, and the top 1 percent of earners accounted for about 4 percent of total income. Fast-forward to the 2004 to 2008 period, when the tax rate of top earners in the U.S fell to 35 percent. The share of income accrued by the top 1 percent reached 18 percent. Denmark, which went through a similar period of economic activity and development, according to researchers, kept the tax rate of its highest earners at a comparatively high rate of nearly 60 percent. The result was that the top 1 percent of earners in Denmark still took in around 4 percent of total income by the year 2008.

Denmark isn’t the only evidence of this phenomenon. Among OECD members, as tax rates on upper-income earners fell—mostly in English speaking countries like the U.S. or Britain—the share of income accruing to the top 1 percent grew. Keeping tax rates high didn’t harm a country’s GDP either, the authors found, suggesting that high taxes didn’t lead productive earners to flee, and low tax rates didn’t motivate them to produce more. According to the paper, while there isn’t a lot of proof that high taxes result in economic slack, there’s a compelling link between low taxation and a growth in inequality. “No country experiences a significant increase in top income shares without implementing significant top rate tax cuts,” the authors write.

Besides the obvious fact that tax cuts put more money into high earners’ pockets, there are a number of reasons that lower tax rates result in more income becoming concentrated at the top, Saez told me. High tax rates make it harder for top executives to make the case for astronomical salaries; if a huge share of their pay is just going to go to taxes, corporate boards will be less likely to pay out high sums that are ultimately funneled back to the government. And when taxes are high, the wealthy can’t put as much into savings since so much of their income goes to the government.

Things haven’t always been the way they are now. Wealth concentration was high in the beginning of the 20th century, but then dropped from 1929 to around 1978, according to a recent paper by Emmanuel Saez and Gabriel Zucman of Berkeley. It’s risen steadily since then.

Still, despite evidence that raising the top rates would lower inequality, it would be politically difficult to do so, especially in the current climate. But it’s been done before, says Marshall Steinbaum, a visiting fellow at the Roosevelt Institute who has studied the history of taxing the rich. In the 19th century, the United States was governed by the same type of free-market paradigm that rules the country today: Leave it to the market to sort everything out. But over the late 19th century and early 20th, the progressive movement gained steam, and there emerged a political argument that the laissez-faire attitude of the government was allowing too much inequality to grow. Enter the economist Edwin Seligman, a scion of a New York banking family, who published a paper in 1910 advocating for the introduction of an income tax in order to finance government functions. The Sixteenth Amendment, which allowed for an income tax to be levied, passed in 1913. Over time, an idea that had been advocated by mostly left-wing economists became mainstream, Steinbaum told me.

Raising the top brackets back to what they were in the periods of less inequality may still be seen as left-wing today. But that could evolve. There is precedence for the top rates being raised significantly, especially at times when public opinions about wealth were very similar to Americans’ today. I talked to David Zalewski, a professor of finance at Providence College who has studied the Revenue Act of 1932, under which the marginal tax rate jumped from 25 percent to 63 percent for top earners. Of course, 1932 was a very different time economically: Most importantly, the United States was on the gold standard and its economy was running a big budget deficit, so those in business were concerned that the country would start printing money to close the gap. This would devalue the dollar significantly, harming their ability to trade and buy and sell in dollars.

So President Hoover floated the idea of significantly raising taxes on the rich to close the budget hole instead. The wealthy didn’t hate the idea, Zalewski said. Paying higher taxes was better for them than having the dollar devalued so significantly that they couldn’t trade it for anything. “An unbalanced budget was the worst thing you could do in national policy during the gold standard era,” Zalewski told me. The Revenue Act of 1932 more than doubled tax rates on the rich—the largest peacetime tax increase in American history. And aside from big increases on the rich, the act included consumption taxes on gasoline and electricity, according to the Tax History Project, a collection of essays about financial history from the non-partisan nonprofit Tax Analysts.

The following year, Franklin Delano Roosevelt took office. He took the country off the gold standard, but saw no reason to lower tax rates since he had a laundry list of social programs he wanted to fund. Instead, he passed the Revenue Act of 1935, which actually raised the top tax rate even higher, to 79 percent. Critics derided this as a “soak the rich” tax. But the country seemed to content to keep the trend going. Between 1935 and 1982, the top tax rate did not dip below 70 percent. Part of this was due to a belief among those in charge that the government had a role in combating extreme wealth. Roosevelt said this in a speech about raising taxes:

People know that vast personal incomes come not only through the effort or ability or luck of those who receive them, but also because of the opportunities for advantage which Government itself contributes. Therefore, the duty rests upon the Government to restrict such incomes by very high taxes.

And that wasn’t an extreme view. For a long time, says Saez, the idea that earning a ton of money was, in some ways vulgar or unfair dictated policy. During World War II, the government even controlled pay increases in the private sector. Even when those controls were lifted, income inequality stayed constant at low inequality. This is a period of income equality referred to by economists as the Great Compression.

It wasn’t until the Reagan era that the politicians in power started to talk up the benefits of wealth accumulation once again. Top tax rates fell, from 70 percent to 50 percent, in 1982, and then to 38.5 percent in 1987. At the same time, the top 0.1 percent of earners’ share of wealth has risen from 7 percent in 1978 to 22 percent in 2012, a level almost as high as in 1929, according to a May paper by Saez and Zucman that tracks wealth inequality in the United States since 1913.

The gap between the wealthiest and everyone else has grown so large that economic experts around the world have listed the issue of one of the main concerns facing the global economy. To reverse the extreme concentration of wealth that has characterized the last few decades, Saez says, changes to the top tax rates would have to be relatively large—bigger than the changes in the Clinton era, which saw the top tax rate grow from 31 percent to 39.6 percent, or those in the Obama era, which saw the top tax rate grow from 35 percent to 39.6 percent. And increases in the top tax rate would have to be accompanied by concrete changes in the tax system so that it’s not as easy for the rich to avoid paying taxes. Saez’s colleague Zucman estimates that 8 percent of the world’s financial wealth is held offshore, costing the US alone $36 billion a year.

Fixing a problem of that magnitude seems like a stretch. But it’s possible to prevent as much hiding of offshore wealth, Saez says, if governments want to work together to punish countries that allow capital to be hidden in their banks. The Foreign Account Tax Compliance Act, passed in 2010, is a good start, he said. It required American expats to report assets held in foreign banks, and also required foreign banks to report significant assets held by Americans. A next step, Zucman suggests, could be slapping tariffs on goods imported from tax havens. Adding a 30 percent tariff to Swiss goods, for instance, would end up costing Switzerland more than the country earns for being a tax haven, which could be motivation for the country to comply with stricter reporting requirements.  

“This is really a choice—if all the big countries, the U.S., countries in Europe—really wanted it to be done, they could do it,” Saez told me. This is the same for raising top tax rates, it seems. History suggests that doing so could help reduce income inequality and wealth concentration at the very top. But the U.S. must really want it to be done.



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CNN Op-Ed on Gary Johnson’s Libertarian Campaign

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I forgot to post this last week, but I’ve got a short piece on the Johnson/Weld Libertarian campaign at CNN. The basic idea – familiar enough to readers of BHL, I imagine – is that it’s a mistake to think of libertarianism as a “right-wing” ideology, and therefore a mistake to think that a successful Libertarian campaign would draw more votes from Trump than from Clinton.

Here’s an excerpt:

First, libertarianism is more than just an economic ideology. It’s a social one. And many Libertarian social positions — an openness to immigration, an embrace of equal rights for gay, lesbian, and transgender persons, a hostility toward the war on drugs and American militarism abroad, and support for women’s reproductive rights — are arguably more progressive than the average Democrat. Libertarians were supporting marriage equality and marijuana legalization, for instance, long before any mainstream politician — Clinton included — would touch those issues.
Second, even on strictly economic issues, Libertarians have a lot to say that should appeal to those on the left. Libertarians have long been sharply critical, for instance, of the ways regulations such as occupational licensing requirements are used to protect the economically powerful at the expense of the poor and marginalized. They’ve fought against subsidies, bailouts, and other forms of “crony capitalism” that benefit the few at the expense of the masses. And — contrary to popular perception — Libertarians have often argued in favor of a well-designed social safety net to protect those who fail to benefit from the economic dynamism of a free economy. Both Milton Friedman and Friedrich Hayek, for instance, supported what many regard as a radically progressive policy — a basic income guarantee. And Gary Johnson has suggested that he is open to the idea as well.


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