When a study released earlier this month showed the wealthiest Americans paying a lower tax rate than any other group, Democratic presidential candidates embraced it as a proof that they were on the right track. While their tax-the-rich proposals vow to create a better economic balance, the candidates often pivot to what they would do with the proceeds: Medicare for All, student loan relief, infrastructure repair, and other expensive programs. Those equations have raised serious doubts, and for

I suspect that the group of people who didn’t favor impeaching and removing Donald Trump until they read the transcript of his July 25 phone conversation with Ukraine’s president is a very small group indeed.　If that’s so, why is the formal impeachment process happening now -- and why are some Republicans, such as Francis Rooney in the House and Mitt Romney in the Senate, apparently open to it?　Political scientist Matt Glassman floats one theory: that “recent events have

The Spanish government on Thursday exhumed the remains of the dictator Francisco Franco, who died in 1975, from a mausoleum in the Valley of the Fallen near Madrid and took them to a city cemetery where Franco’s wife is buried. It may give Spain’s caretaker Prime Minister Pedro Sanchez, who is fighting for re-election, a boost in the polls, but it won’t really put anything right.Franco’s old resting place was probably the most ostentatious of any 20th century tyrant&rsquo

SoftBank Group Corp. offered to take a majority stake in WeWork, one of two rescue packages that the board of the troubled company is weighing, according to people familiar with the matter.The deal from SoftBank is currently in the lead among some directors, according to a person familiar with the board’s thinking. A decision is likely to be made Monday night, though the process is fluid, said the person, who asked not to be identified discussing private deliberations. JPMorgan Chase &

There was very nearly a bedtime Brexit tale that went something like this: And so, finally, the porridge was just right, Parliament ate up Boris Johnson’s Brexit deal and then, satisfied, went to bed. The end.Of course, lawmakers didn’t eat up and this interminable story isn’t over. Saturday’s parliamentary session instead served up another helping of thin gruel to those British voters who just want the whole thing resolved. Rather than the prime minister getting a vote o

This year’s economics Nobel prize went to three worthy economists: Abhijit Banerjee and Esther Duflo of the Massachusetts Institute of Technology and Michael Kremer of Harvard University. The prize, awarded “for their experimental approach to alleviating global poverty,” shows several important ways that the economics discipline is changing. A popular conception of economists is that they’re the high priests of the free market, downplaying the role of government and givin

A small $1.5 billion company is attracting the biggest movers in finance in what’s shaping up as the first high-profile foreign hostile takeover in Japan. If successful, it could wake up the sleepy $228 billion market of publicly listed real-estate companies.　The attention is on Unizo Holdings, until recently an obscure developer and hotel operator. The company has a big chunk of its office rental business, which accounts for about 90 percent of operating income, in Tokyo, where the vacanc

Not every good policy is going to be popular. Sometimes either the public, activists or the commentariat -- or all three -- just get something wrong. This can happen for ideological reasons, or simply because of a lack of information. I’m more optimistic than most pundits, in that I think the public usually gets at least the outlines broadly right. But there are a few issues where the tide of opinion simply seems to be against me. Here are a few:No. 1. The Trans-Pacific PartnershipThe TPP

Once again, Alan Dershowitz, a former Harvard Law School professor, is mounting a defense of US President Donald Trump against the threat of impeachment.In the past, Dershowitz has been willing to get creative in his legal arguments. After Trump said that he would appeal any impeachment attempt to the Supreme Court, Dershowitz claimed that it was “certainly possible” that the court would stop the Senate from holding a trial. Former Justice David Souter had, he explained, once written

These are fraught times for Asia-Pacific nations caught in the crossfire of the US-China rivalry. I recently wrote about how one longtime US ally, the Philippines, is repositioning itself between Washington and Beijing. But Manila is hardly alone in trying to protect itself as the geopolitical giants clash. Singapore confronts a similar challenge, which was thrown into relief by an interview its Prime Minister Lee Hsien Loong gave last week. Lee’s remarks highlight the dilemmas faced by we

South Korea’s economy is in a tough spot. Too bad the monetary policy response has been so tame.The country is flirting with outright deflation, figures Tuesday showed, as consumer prices declined for the first time on record. Exports, which account for about 40 percent of gross domestic product, had slipped for 10 straight months. The Bank of Korea says the country will struggle to meet even lowered growth forecasts.BOK policymakers need to articulate a broad strategy to get inflation bac

The fate of President Donald Trump rests with Republicans. So the hearing in the House of Representatives on Thursday about a whistleblower’s allegation of impropriety involving Trump’s interaction with the president of Ukraine provided a good chance to see what GOP lawmakers are thinking.　The answer is: They’re all over the place. And that’s bad news for the White House.There are plenty of good questions about how Democrats on the House Intelligence Committee grilled the

Japan’s consumption-tax hike doesn’t look like it’s going to sink the economy, as a similar increase did five years ago. That’s the good news.　The bad news is that the bump, to 10 percent from 8 percent, is still happening at an inauspicious time. While a recession isn’t in the cards for Japan, the last thing any major economy needs is a fiscal brake.Twice Prime Minister Shinzo Abe shied away from the increase. No wonder: A jump in the tax was widely blamed for a re

Even before House Speaker Nancy Pelosi pulled the trigger on an investigation into President Donald Trump’s dealings with Ukraine, there were fears and complaints that impeachment proceedings would dangerously compromise US foreign policy. Beyond just stifling the president’s communications with foreign leaders, wrote former Justice Department official John Yoo, Congress “would seize the upper hand in foreign affairs, which has produced disasters.”But there’s anothe

US presidential candidate Joe Biden is about to learn an unpleasant lesson about Ukraine: Once you’ve stepped into the country’s politics, there’s no way to emerge unsullied. Recent developments suggest he’ll be fielding questions about a lot more than what President Donald Trump has already slung his way.Consider the case of Ukrainian billionaire Dmytro Firtash, which could play into one of the conservative blogosphere’s favorite obsessions: the idea that Ukraine p

The UK Supreme Court’s ruling voiding Boris Johnson’s suspension of Parliament is one for the ages -- a landmark in British constitutional law of the kind that comes around only once every few centuries.The court’s judgment tried to downplay how astonishing its decision was. But the reality is that the unanimous court broke new ground in making the judiciary, not Parliament, the ultimate arbiter of constitutional legality in the UK. Although, the court said this case was a &ldq

The German government’s 54 billion euro ($60 billion) climate deal, approved Friday after about 20 hours of overnight negotiations, is a typical product of the reluctant coalition run by Chancellor Angela Merkel: It achieves a balance of interests and little more. If German voters want a more ambitious plan, and there are indications that they do, they’ll have to wait until after the 2021 election.The package is an exercise in evenhandedness. It’s neutral from the budgetary poi

A small squadron of drones -- and possibly cruise missiles -- penetrated Saudi Arabia’s air defenses on Saturday, laying waste to a significant, valuable portion of two of the world’s most essential oil processing facilities. Amid worries about the impact of the strikes on global oil markets and fears about broader military confrontations upending a region perennially vexed by crossed swords, ancient religious rifts, geopolitical maneuvering and greed, facts and conjecture began jock

For years, thriving cities in coastal regions of the US have become increasingly expensive to live in. As cities such as San Francisco, New York City, Los Angeles and Seattle became more attractive, thanks to booming knowledge industries and falling crime, rents soared.And for almost as long, people have been hotly debating what to do about the problem. Many have called for an increase in housing construction, especially by loosening zoning laws and reducing the ability of legal challenges to ha

President Donald Trump said his administration has reached an initial trade accord with Japan over tariffs and that he intends to enter into the agreement in coming weeks.In a notice to Congress on Monday, Trump also said the US will be entering an “executive agreement” with Japan over digital trade.There was no mention by Trump if he’ll end his threat to slap tariffs on Japanese auto imports as part of the trade deal.“My administration looks forward to continued collabor