Free Republic

A team of researchers at the Federal Reserve are pointing fingers at more than a handful of states they say are actively undermining the government's attempts to curb income inequality. According to a new paper, the federal tax code works to compress income inequality across the U.S., a problem that has been growing since 1980. The general idea is that high earners should be taxed at higher rates, allowing a good portion of that revenue to go into programs that help lower-income people. In contrast, some states have instituted "regressive" tax policies that offset federal taxes and widen the growing...

In a move that shows commercial space exploration is not just possible, but probable, the United States House of Representatives just passed the SPACE Act in order to lay down some general guidelines in case you want to, you know, start a mining operation in space. While private charters like Virgin Galactic, and colonization missions to Mars by the likes of SpaceX are all the rage these days, the bill would suggest that enough private organizations have an interest in mining valuable resources from space that the need for legislation is necessary. Bear in mind, not a single private company...

But it ought to be pointed out that not only were Warren’s actions counter to her stated principles – they mimicked those of the private equity companies and other financial institutions that she has spent her entire public life railing against. What private equity professionals like Mitt Romney, and investors in general seek to do is “buy low and sell high.” Firms like Romney’s Bain Capital scour the market for businesses they believe are undervalued and/or have significant growth potential. They seek to buy these businesses at a low price, and grow them while making them more profitable and efficient...

If man is not to do more harm than good in his efforts to improve the social order, he will have to learn that in this, as in all other fields where essential complexity of an organized kind prevails, he cannot acquire the full knowledge which would make mastery of the events possible. He will therefore have to use what knowledge he can achieve, not to shape the results as the craftsman shapes his handiwork, but rather to cultivate a growth by providing the appropriate environment, in the manner in which the gardener does this for his plants.Friedrich Hayek, The...

Opposition to the U.S. Export-Import Bank (Ex-Im) is now at the point where the bank’s reauthorization is genuinely in doubt. Spurred by accusations of corporate welfare, crony capitalism and outright corruption, opponents believe the Ex-Im Bank’s palpable violation of free-market principles fully warrants its early demise. The Ex-Im Bank’s critics have their economics entirely correct, but they have their geopolitics wrong. Their solution — simply terminating the bank — is appealing but counterproductive. What America should do, under a president with the wit to do it, is negotiate the global elimination of “export credits” (as these subsidies are generically known)....

The New Hampshire House Business Caucus, in partnership with the Greater Concord Chamber of Commerce, will host its fourth in a series of business roundtables with presidential candidates, on Monday, June 1, at 9 a.m. at The Draft restaurant, 67 South Main St. in Concord, according to a press statement. The featured speaker, and declared presidential candidate, will be Sen. Ted Cruz of Texas. “The momentum continues to build as we have more and more candidates take part in this series. We have had a terrific response and level of interest from the business community, the candidates, and state elected...

JEFFERSON CITY, Mo. (AP) -- Alarmed about cities trying to outlaw plastic bags, the director of the Missouri Grocers Association decided to do something about it. So Dan Shaul turned to his state legislator- himself - and guided a bill to passage barring local governments from banning the bags. Shaul's dual role in state government and business may be a bit out of the norm. Yet his actions are not. In capitols across the country, businesses are increasingly using their clout to back laws prohibiting cities and counties from doing things that might affect their ability to make money. In...

Damage is estimated at $9 million for the destruction of hundreds of businesses and two homes during the recent unrest in Baltimore — with at least 30 sustaining major damage, according to information released Wednesday. The Small Business Administration estimated the damaged at about $8.9 million to 284 business and $60,000 to two houses, officials told The Baltimore Sun. U.S. Sen. Barbara A. Mikulski, along with other Maryland Democrats, called for Small Business Administration to assist with the creation of disaster centers in the city and a plan to inform business owners who are eligible for benefits about how to...

International trade is a job creation engine that supports more than one in five jobs nationwide. Every state benefits from exports, and Texas, California and New York have the highest export revenues. Even states earning less than the top three states receive billions of export dollars. The United States is in the midst of negotiating three major trade frameworks (Trans-Pacific Partnership [TPP], Transatlantic Trade and Investment Partnership [TTIP] and Trade and Investment Services Agreement [TISA]) that will be difficult to conclude without trade promotion authority (TPA). Trade Promotion Authority – The States Are Stakeholders provides background on TPA and the...

Baltimore Is Not About Race Government-induced dependency is the problem—and it’s one with a long history. By William McGurn May 4, 2015 For those who see the rioting in Baltimore as primarily about race, two broad reactions dominate. One group sees rampaging young men fouling their own neighborhoods and concludes nothing can be done because the social pathologies are so overwhelming. In some cities, this view manifests itself in the unspoken but cynical policing that effectively cedes whole neighborhoods to the thugs. Opinion Journal Video Manhattan Institute Senior Fellow Jason Riley on what prompted the violence and what comes next....

Sanctions are an ineffective tool on their own for achieving complex geopolitical objectives For those who believe that sanctions on Iran have made substantial progress towards their stated goals, a recent report by the Congressional Research Service (CRS) is illuminating. The report reviews the sanctions applied against Iran by various entities and then critically examines their actual impacts. The results are not promising for those who believe sanctions are an effective tool with which to exert serious geopolitical pressure. The report acknowledges that “Iran’s acceptance of the JPA [Joint Plan of Action; the interim nuclear agreement that has been in...

Capitalism is a wonderful thing - except when it isn't. Several US businessmen - oil execs for instance - are eagerly waiting for the day when "normalizing" relations with Iran would lead to exploiting the business opportunities offered by the mullahs. The Hill: Leaders from the United States’ oil industry are traveling to Iran this week to discuss potential investment opportunities, Iran’s government said. The delegation of oil company leaders and investors are visiting Iran in anticipation of sanctions being loosened against Tehran, Iran’s state-owned Mehr News Agency reported Monday. “It is forecast that by the visit of [the] American delegation...

Report: Robots replacing human workers at faster pace Robots aren't just for corporate Goliaths -- now even the little guy on Main Street is adopting them. The goal: to boost sales and productivity. But at what cost? Take Sam Kraus, a Hungarian immigrant who founded what became Skyline Windows in 1921. In the early days, the tinsmith traveled around with a small cart to do his roofing and waterproofing work by hand. Fast-forward to today, and the fourth-generation business based in New York City's South Bronx has left the pushcart era far behind. Skyline, which has evolved into a custom...

I’m an immigrant who has realized the American dream. But Washington’s new labor rules are a nightmare. In 1985 I left my home in Pakistan at age 19 and came to the United States with the help of an uncle. I considered this my best chance to start a life away from the government control and corruption that troubled my country. That proved true. Through hard work, I learned to run restaurants and I now own dozens of stores as a franchisee. But the National Labor Relations Board is threatening to upend my business model by muddling the distinction between...

A married couple is at risk of losing everything including their home after refusing to bake a wedding cake for a lesbian couple. And on top of that, after being fined $135,000, GoFundMe.com pulled a fundraising effort for the couple because of...tolerance or something. Todd Starnes reports:The owners of an Oregon bakery learned Friday that there is a severe price to pay for following their Christian faith. A judge for the Oregon Bureau of Labor and Industries (BOLI) recommended a lesbian couple should receive $135,000 in damages for their emotional suffering after Sweet Cakes by Melissa refused to make them...

In New Orleans, midnight sounded on last call – for smoking. A new law just took effect banning cigarettes, cigars and other forms of tobacco smoking from all bars. And some local residents are relieved. “This is one of the smokiest bars in town,” said Steve Zweibaum, speaking to the New York Times from one local bar. “I know a bunch of people who don’t come in here because of the smoke. Maybe they’ll come back.”

Today on HERE AND THERE: It's clear now, it's not just an oil price drop, but an oil price war, being waged by Saudi Arabia. Among the targets: the new generation of NM shale oil drillers that have made the United States at least temporarily energy-sufficient. Economist Daniel Fine of the New Mexico Center for Energy Policy has a petroleum battlefield report.

The rapid expansion of gay rights and LGBT acceptance in the United States is a remarkable story, and one that's still unfolding. If you think you know how it ends, you don't. As federal courts and state and local governments have opened the door to same-sex marriage, for example, state legislatures in Republican-controlled capitals have been responding with measures to limit gay rights, quash same-sex marriage, and take away local control over LGBT anti-discrimination policies. The "religious freedom" laws in Indiana and Arkansas are the most famous of the recent state measures to curb gay rights. But Indianapolis and Little...

The most prosperous states in the past ten years were: Utah North Dakota Indiana North Carolina Arizona Idaho Georgia Wyoming South Dakota Nevada

It's not about finding workers; it's about finding the right workers.According to the latest supplemental survey from the New York Fed's manufacturing and business leaders surveys, employers in the New York area are facing two main problems: finding workers who can show up on time and workers who can hold a conversation.The survey showed that in April, 65% of manufacturing employers had difficulty finding punctual workers and 60% had trouble finding workers with interpersonal skills.Among business leaders, a broader survey group, 42% had trouble finding punctual workers while about 48% had trouble finding workers with interpersonal skills. These results also...