It is now commonplace to criticize corporate CEOs within progressive political circles, so it is no surprise that San Francisco, one of the most politically progressive cities in the country, has proposed a tax on CEOs. But just not any CEO, only those with exceptionally high salaries compared with others in the company. Dubbed the “CEO Excessive Salary Tax,” the proposal would tax a company’s gross receipts depending on the difference between its CEO’s pay and the median salary of its workers.

Elizabeth Warren’s belief that government is capable of “leveling the playing field” does a disservice to the unique entrepreneurial ecosystem that free enterprise facilitates.

Nina Karnaukh of Ohio State sent along this lovely graph of the 6 month Fed Funds futures around the beginning of August. Read this as the market's guess about what is happening to the Federal Funds rate over the next 6 months.

University of Chicago economics professor Casey Mulligan, fresh off his one-year stint as chief economist with President Trump’s Council of Economic Advisers, has an interesting comparison of Trump vs. Reagan on economic deregulation.