Elitist Schools

Some schools have lots of students from the elite. Mine (no surprise to those here) is one of them, as highlighted in a NYTimes "The Upshot" article. In contrast W&L does a poor job in

The Facile Logic of Tax Cuts

We frequently see claims that a lower tax rate – particularly of corporate or personal income taxes – will work miracles. That is seldom the case.

First, the stated tax rates are not the realized tax rates. While on paper someone with $500,000 in income is paying a 39.9% rate, the rate on the first $450,000 in income is lower: even without deductions the average rate drops to 29%. With the normal array of deductions for mortgages and this and that it will be lower.

Auto Industry Book of Note!

Mike Smitka

Up on Amazon as a New Year's surprise for me:

• Mike Smitka & Peter Warrian, A Profile of the Global Auto Industry: Innovation and Dynamics. Business Expert Press, December 29, 2016. Available in paperback and Kindle.

Here is the Table of Contents: