The largest number of jobs likely to be created by the JOBS Act will be for lawyers needed to clean up the mess that it will create.

To be sure, India has achieved enviable success in business services, like the glistening call centers in Bangalore and elsewhere. But in the global jousting for manufacturing jobs, India does not get its share.

As a beneficiary of the carried interest loophole, I've seen firsthand the lack of any difference between the work involved in generating a carried interest and the work done by millions of other professionals who are taxed at the full 35 percent rate.

Indias rigid social structure limits intergenerational economic mobility and fosters acceptance of vast wealth disparities.

China has lunged into the 21st century, while India is still lurching toward it.

To fix Social Security, we should first stop using the Consumer Price Index to adjust benefits for inflation. Using the C.P.I. overstates the impact of inflation and has also led to larger increases in benefits for Social Security recipients than the income gains of typical American workers.

Slapping a catchy acronym like the JOBS Act on a piece of legislation makes it more difficult for politicians to oppose it - and indeed that's what happened with the Jumpstart Our Business Startups Act.