Become a Patron! In a bit of a surprising turn in the lead-up to the Iowa caucuses, former Vice President and Delaware Senator Joe Biden has finally come under sustained criticism for his career-long advocacy for cuts to Social Security. I'm not sure why his rivals didn't elevate this criticism earlier, but it's obviously correct: he has advocated and voted for cuts to … [Read more...] about Biden is wrong about Social Security, but so is everybody else
Direct indexing and shareholder democracy
Become a Patron! The late Paul Volcker is famously said to have quipped that he hadn’t seen a worthwhile financial innovation since the ATM, which makes him slightly more cynical than even I am. In fact, I think we're on the brink of a real revolution in shareholder democracy. Mutual funds and direct ownership are competitors Vanguard has offered low-cost, commission-free, … [Read more...] about Direct indexing and shareholder democracy
Prosperity, precarity, anxiety, and solidarity
Become a Patron! As we plunge into a second decade of economic and employment growth since the global financial crisis, I've noticed an interesting divide open between different methods of experiencing the present moment. It's interesting because while the divide has political content, it isn't intrinsically partisan, and the divide goes far beyond party … [Read more...] about Prosperity, precarity, anxiety, and solidarity
How to think about the Spousal IRA deduction gap
Become a Patron! With the end of the year in sight and tax season around the corner, I've been brushing up on the rules for IRA contributions and deductions. Remember IRA contributions can be made for the 2019 contribution year until April 15, 2020. Most large IRA custodians make it easy to designate your contribution for the appropriate year, but if you use an independent … [Read more...] about How to think about the Spousal IRA deduction gap
The SECURE Act is headed into law; small employers get a few handouts
Become a Patron! I've written extensively about the hilariously-named SECURE Act, which sailed through the House but was frozen in the Senate while Ted Cruz extorted his colleagues to allow wealthy Texans to make tax- and penalty-free withdrawals from their 529 accounts for "homeschooling" expenses. Contrary to some early reporting, that provision does not seem to have made … [Read more...] about The SECURE Act is headed into law; small employers get a few handouts