UC Berkeley Department of Economics

Everything You Need to Know About Ocasio-Cortez’s Tax Plan

Americans have been arguing about taxes for decades. In recent months, soaking the rich with higher taxes has become a battle cry for progressives. Left-leaning politicians argue that higher taxes on the wealthy would reduce inequality and raise substantial revenue without damaging the economy.

Wine Is Money: How the Rich Are Changing Napa Valley’s Drink

Stu Smith and his brother, Charlie, put down a $500 option on about 200 acres of land on the slopes of Spring Mountain in 1971, eventually purchasing the property for $70,000. The views of the adjacent Napa Valley were stunning, and Smith, who had developed a passion for wine while completing his undergraduate degree in economics at Berkeley, was determined to get into the nascent California premium wine business.

A Yellen-Led Fed

Next to headlines on the ongoing government shutdown, the prospect of a default on the national debt, and the spike in the price of short-term federal IOUs which, according to one wonk  “ should terrify you,” the news that Berkeley’s own Janet Yellen was tapped to chair the Federal Reserve might have been the least exciting economic news you’ll read all week.

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