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Keyword: economics

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  • David Pennington: Republicans are Georgia’s problem

    08/27/2014 9:07:53 AM PDT · by GrootheWanderer · 20 replies
    The Daily Citizen (Dalton, Georgia) ^ | August 27,2014 | David Pennington
    Recently, a friend lamented that the liberal left is destroying America, but I disagreed. The left is consistent and transparent in its belief that big government, higher taxes and more regulation serve the greater good. The right espouses a limited government platform of lower taxes, less spending and less regulation, which frees capital resulting in innovation and job creation. But do Georgia Republicans practice what they preach Georgia’s fiscal year 2014 results illustrate the reality vs. the rhetoric. Our revenue jumped $879 million over fiscal year 2013; but $473 million of this increase resulted from the new way cars are...
  • Don't Be Fooled: This Week's Economic Data Should Be Taken With a Large Grain of Salt!

    08/27/2014 7:39:47 AM PDT · by Kaslin · 8 replies
    Townhall.com ^ | August 27, 2014 | Donald Lambro
    WASHINGTON - A bunch of economic numbers from the government this week, which should be taken with a large grain of salt, were expected to show the economy was doing much better in the past three months. Well, we've seen these periodic, fragmentary numbers many times before, only to see the economy continue to slowly slog along at its painfully lackluster, jobs-challenged pace for the past six and a half years now. President Obama will recite the exaggerated economic numbers that his cherry-picking speech writers select to prove that he's brought the economy back from the bring of recession. But...
  • The New Misery Index

    08/25/2014 9:45:41 AM PDT · by gunsmithkat · 8 replies
    ZeroHedge ^ | 08-25-2014 | Charles Hugh Smith
    The Status Quo is desperate to mask the declining fortunes of those who earn income from work, and the Misery Index 2.0 strips away the phony facade of bogus unemployment and inflation numbers.
  • 'Cash for Clunkers' actually hurt the auto industry [Academic Study Verifies...Most Media Silent]

    08/23/2014 5:52:45 AM PDT · by SoFloFreeper · 11 replies
    St Louis Post Dispatch ^ | 8/22/14 | David Nicklaus
    We've written repeatedly about the many flaws of the 2009 "Cash for Clunkers" program. It made used cars more expensive, wasted resources and merely shifted people's car-buying plans forward a few months. Now, a new study by three Texas A&M University economists says the misguided stimulus policy wasn't even good for the auto industry. Mark Hoekstra, Steven L. Puller and Jeremy West find that the program's fuel-efficiency constraints induced people to purchase smaller, less expensive cars than they would otherwise have bought.
  • Loss of mid-wage jobs hampers state's growth

    08/08/2014 9:11:14 AM PDT · by Pelham · 13 replies
    LA Times ^ | August 8, 2014 | Tiffany Hsu
    On the surface, California's job market is booming. The state has now recovered all the jobs lost during the recession, and done so at a faster pace than all but five states. The growth, though, belies a troubling imbalance. The fastest job creation has come in low-wage sectors, in which pay has declined. At the high end of the salary scale, a different dynamic has taken hold: rising pay and improving employment after rounds of consolidation. Most distressing, middle-wage workers are losing out on both counts. "People talk about it like an hourglass," said Tracey Grose, vice president of the...
  • Remembering Milton Friedman on His 102nd Birthday

    08/08/2014 10:50:38 AM PDT · by MichCapCon · 6 replies
    Mackinac Center for Public Policy ^ | 8/6/2014 | Michael LaFaive
    Lovers of liberty are today recognizing the birthday of intellectual powerhouse and Nobel laureate Milton Friedman, who was born 102 years ago in Brooklyn, New York to immigrant parents. Friedman, who died in 2006, was my intellectual hero. As I have noted in previous blog posts, Friedman revolutionized the economic science while teaching it to the everyman. He is arguably the most influential economist of the 20th Century, perhaps (unfortunately) next to John Maynard Keynes. Friedman cut so many new paths it is difficult to sum up his contributions to economics and public policy in a book, let alone a...
  • The Pitfalls of Modern Capitalism

    07/24/2014 3:25:34 AM PDT · by matthewrobertolson · 27 replies
    Catholic Analysis ^ | 24 July 2014 | James Kohn
    When Adam Smith put to paper the principles of market systems that Marx would later dismiss as capitalism, people were still dedicated to their religious faiths. Smith -- who was not in Washington at the time (ba-dum-tssshhh) -- knew this, and, even prior to releasing this monumental work, he laid the foundation of what his market system would be based on: “moral sentiments”. Smith was not a relativist, but he believed that morals were commonly held -- after all, Christendom was still holding on, albeit just barely and for dear life. True, enlightened capitalism, while inferior to distributism, is at...
  • Workers receive wage hikes of up to 37% (Argentina)

    07/22/2014 5:32:29 AM PDT · by Oldeconomybuyer · 3 replies
    Buenos Aires Herald ^ | July 22, 2014
    The national government yesterday unveiled the results of collective wage bargaining for the first half of the year, stressing the fact that salaries have risen by up to 37 percent “amid a difficult context marred by economic troubles.” The Labour Ministry considered not only hikes in basic salaries but also extra sums agreed to between workers and employers. Meanwhile, private estimates say inflation for the last 12 months has clocked in at around 37 to39 percent.
  • First Detroit, Now Flint Warns Bankruptcy "Train Is Headed For The Cliff"

    07/20/2014 4:22:59 AM PDT · by Zakeet · 29 replies
    Zero Hedge ^ | July 19, 2016
    Flint may be Michigan’s second city to plunge into bankruptcy unless retirees accept cuts in health benefits that threaten to unravel a balanced budget. As Crain's Detroit reports, Emergency Manager Darnell Earley (Flint’s third emergency leader since it was placed under state control in 2011) warned "If we have no ability to mitigate the cost of retiree health care, that’s going to make it very difficult for the city to remain financially stable over the next few years." As Eric Scorsone notes, "Flint's at the forefront, but a lot of cities are on the same train, and that train is...
  • Economics for Everybody: Applying Biblical Principles to Work... [$5 Friday at Ligonier!]

    07/11/2014 1:15:21 PM PDT · by SoFloFreeper · 4 replies
    ligonier.org ^ | RC Sproul, Jr
    Everybody talks about it. The news is full of it. But most Christians know very little about it. Economics: it’s everywhere, influencing everything, yet so rarely understood. Economics for Everybody seeks to remedy that through an insightful and entertaining exploration of the principles, practices, and consequences of economics. Thoroughly unconventional, it links entrepreneurship with lemonade, cartoons with markets, and Charlie Chaplin with supply and demand. It’s funny, clever, profound and instructive. If you want to know why economics is so important to understand, this is the series for you. In our day and age, it’s a message every Christian needs...
  • Texas Margin Tax is the Epitome of Bad Tax Policy

    07/09/2014 12:54:32 PM PDT · by ThethoughtsofGreg · 7 replies
    American Legislator ^ | 7-9-14 | Will Freeland
    With most legislative sessions for 2014 adjourned, many states are now looking forward to November. Other than elections, various ballot initiatives will be voted on later this year. Perhaps the most economically damaging proposal comes from the state of Nevada, where voters will decide whether or not to impose a 2 percent modified gross receipts tax, or margin tax on the state’s businesses. Currently, only Texas has the economically devastating margin tax, at 1 percent, and that has been the subject of multiple votes to repeal just in the 2013 legislative session. Other states, such as Washington and Ohio also...
  • Further Look at Employment: Seasonally Adujsted Decline of 523,000 Over Last Month

    07/06/2014 9:34:21 AM PDT · by Kaslin · 16 replies
    Townhall.com ^ | July 6, 2014 | Mike Shedlock
    Initial Reaction On the surface, this appeared to be a very strong jobs report from both the household survey and establishment survey perspective. The establishment survey reported a gain of 288,000 jobs while the household survey sported a gain in employment of 407,000. In addition, May was revised up from +217,000 to + 224,000, and April revised up from +282,000 to +304,000. Digging deeper into the details, strength was entirely part-time (and then some). Voluntary part-time employment rose by a whopping 840,000 and involuntary part-time employment rose by 275,000. Compared to a total gain of employment of 407,000, the gain...
  • The After Effects Of Michigan's Minimum Wage Increase

    06/26/2014 2:06:30 PM PDT · by MichCapCon · 6 replies
    Michigan Capitol Confidential ^ | 6/24/2014 | Manny Lopez
    Despite overwhelming evidence from economists on both sides of the political aisle, Republicans in leadership positions in the Michigan Legislature pushed for an increase to the state's minimum wage. They were rewarded for their efforts when Republican Gov. Rick Snyder signed the increase into law late last month. By 2018, employers across the state will be forced to pay at least $9.25 an hour to workers. Forced increases to the minimum wage will continue in 2019 and beyond because the wage will be adjusted to the rate of inflation or 3.5 percent, whichever is lower. The mandate will be phased...
  • RTW States Lead the Way: More income, population growth

    06/23/2014 7:21:52 PM PDT · by MichCapCon · 2 replies
    Capitol Confidential ^ | 6/22/2014 | Zachary Woodman
    During the debate in Michigan over right-to-work, critics commonly incited fear that it would result in lower incomes for Michigan workers. For example, President Obama claimed in 2012 that the law meant "giving you the right to work for less money." As right-to-work is being discussed in other states, including Missouri, the fears about its impact on income are reiterated. The Committee to Protect Missouri Families, a coalition fighting right-to-work legislation, claims on its website that the law "cuts wages and stifles job growth by reducing people's discretionary income. When people have less discretionary income, they spend less, which in...
  • Businesses launch legal challenge to Seattle's $15 minimum wage

    06/18/2014 4:54:06 PM PDT · by Oldeconomybuyer · 17 replies
    FOX News ^ | June 18, 2014 | By Dan Springer
    Many Seattle workers are about to see their income go way up, after the City Council unanimously passed a $15 minimum wage earlier this month. But faster than you can get a happy meal at McDonald's, the ordinance is facing a legal challenge. “I guarantee not everyone will survive,” warned David Jones, who owns a Subway franchise in Seattle. “This discriminatory law will affect some franchisees and they will go out of business.” The International Franchise Association, representing those concerns, has sued over the wage hike, specifically objecting to the fact the ordinance treats franchises as big businesses and requires...
  • The Bankrupt Economics of David Brat

    06/17/2014 5:30:59 PM PDT · by SeekAndFind · 38 replies
    Pragmatic Capitalism ^ | 06/17/2014 | BY CULLEN ROCHE
    The big political news from last week was David Brat’s upset win over Eric Cantor for Congress. Brat is an economics professor at Randolph Macon and from his research it’s clear that he has strong political views embedded in his economics. It’s perfectly fine to be a political economist, but when it leads to an obviously flawed understanding and presentation of reality then it becomes a real problem in my opinion. For instance, in his website Brat says the following: “Our national debt has skyrocketed, reaching over $17 trillion dollars. What our leaders in Washington fail to mention is...
  • A history lesson on economic recovery from a little-known 1949 book that Washington never learned

    06/06/2014 2:35:51 PM PDT · by fredericbastiat1 · 6 replies
    "One of the most appalling things about NRA was the sudden multiplication of new rules with which businesses must comply, rules not resting on settled law but on arbitrary decisions of administrative bodies, subject to change almost without notice.The business community was suddenly called upon to rush to Washington to participate in the making of codes, codes which represented bargains among different elements of the industries, bargains with labor, and bargains with an extraordinarily incapable set of Government officials and employees, many of whom were extremely radical, and few of whom knew anything about business"
  • State Supported Companies Created Only 18.9 Percent Of Projected Jobs Since 1995

    06/06/2014 1:09:13 PM PDT · by MichCapCon · 1 replies
    Michigan Capitol Confidential ^ | 6/3/2014 | Jarrett Skorup
    Less than 19 percent of the projected jobs the Michigan Economic Growth Authority (MEGA) trumpeted as being created by tax credits between 1995 and 2011 ever came about, according to an analysis of data provided by the Michigan Economic Development Corp. (MEDC). Of the 186,923 new jobs first projected by companies that were awarded MEGA incentives, 35,369 jobs were reported back to the MEDC as being created, according to the latest MEDC reports. Just 3.9 percent of the 659 individual projects met or exceeded their job projection totals. Since 1997, the state has issued MEGA tax credit certificates worth $1.1...
  • Poverty Shoots Up in Venezuela

    06/05/2014 11:37:21 AM PDT · by C19fan · 16 replies
    Foreign Policy ^ | June 4, 2014 | Juan Nagel
    When the Venezuelan government defends itself from its critics, it usually points to declining poverty rates as proof of its success. For a while, this worked; poverty figures indeed improved during a portion of the chavista years. But the days when poverty was a winning issue for chavismo are over. Official statistics now show that poverty is rising rapidly. Venezuela's official statistics office (INE) mostly spends its time producing reports charged with political language -- but it still manages to report actual data once in a while. A few weeks ago, the statisticians published proof that one in three Venezuelans...
  • Piketty – The Greatest Justification to Just Rob Anyone Who Has more Than You

    06/02/2014 4:12:32 PM PDT · by Lorianne · 6 replies
    Armstrong Economics ^ | 30 May 2014 | Martin Armstrong
    We are seeing the most dangerous trend ever. There is an agenda behind the curtain and that is to sustain government at all costs and that includes everything you own. I have warned that either government will move toward a totalitarian state or to real democracy – real Athens style without the career politicians. The latter is possible with civil unrest as we saw in Ukraine. This agenda requires no secret group of sinister corporations, Rockefellers, Rothschilds, or Bildebergs. This is plain old Adam Smith where those in government will never admit they are wrong so the reason they are...
  • Did the Left’s New Communist Economics Hero Fake His Data?

    05/23/2014 5:03:29 PM PDT · by Nachum · 9 replies
    PJ Media ^ | 5/23/14 | Bryan Preston
    Oops. Also, Communists lie. Thomas Piketty’s book, ‘Capital in the Twenty-First Century’, has been the publishing sensation of the year. Its thesis of rising inequality tapped into the zeitgeist and electrified the post-financial crisis public policy debate. High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. (Snip) But, according to a Financial Times investigation, the rock-star French economist appears to have got his sums wrong.
  • Do Taxes Matter to Migration?

    05/21/2014 1:55:41 PM PDT · by ThethoughtsofGreg · 1 replies
    American Legislator ^ | 5-21-14 | Ben Wilterdink
    While certainly not the only factor affecting whether Americans move from one state to another, taxes play a significant role in the equation, even if it is most significantly an indirect role. The Center for Budget and Policy Priorities recently released a report with the purpose of “debunking” this common-sense claim. In addition to the rebuttal from ALEC’s Center for State Fiscal Reform staff, the Tax Foundation also released a series of blog posts that address a few individual issues in CBPP’s report. First, the Tax Foundation makes the crucial point that taxes matter on the margin. Taxes might not...
  • Profit Is Indispensable for Prosperity: Thomas Piketty's Popularity Explains Our Sluggish Economy

    05/08/2014 6:39:31 AM PDT · by SeekAndFind · 2 replies
    Forbes ^ | 05/08/2014 | Steve Forbes
    FRENCH ECONOMIST and darling of the left Thomas Piketty is the latest in an endless array of economists who are clueless regarding profits and what brings about prosperity and a higher standard of living. In his call for ferocious wealth and income taxes on a global scale to combat what he believes is the growing inequality between the rich and everyone else, Piketty has become a media rock star. This merely underscores the fact that pundits and all too many journalists, politicos and economists know less about money and economics than their forebears did 100 years ago. No wonder the...
  • Missouri Lawmakers Override Governor’s Veto, Choose Economic Growth

    05/07/2014 1:40:38 PM PDT · by ThethoughtsofGreg · 5 replies
    American Legislator ^ | 5-7-14 | Ben Wilterdink
    Yesterday, the Missouri House of Representatives voted to override the veto of Governor Jay Nixon and enact broad based tax cuts for the citizens of Missouri for the first time in almost 100 years. The Missouri House joins the Missouri Senate, which voted to override Governor Nixon’s veto Monday. The tax cut package is similar to one which passed the legislature last year and was also vetoed by Governor Nixon. The previous veto was sustained. Ironically, Governor Nixon vetoed broad tax cuts (now twice) for all Missourians who pay income taxes even though he called a special session last year...
  • Socialism In Venezuela: Government Introduces Food Rationing

    05/07/2014 8:33:44 AM PDT · by TheProducer · 27 replies
    Reuters/The Libertarian Republic ^ | 5/7/14 | Reuters copied by Austin Petersen
    Socialism is reaching its unavoidable conclusion in Venezuela where President Nicolas Maduro has begun introducing food rationing. A new food card will be issued to citizens called the “Secure Food Supply” card that is aimed at combatting hoarding and reselling. Shoppers apparently buy food which is heavily subsidized and resell it on the black market to secure profits.
  • Thomas Piketty Lover Goes Public About Abuse

    05/04/2014 2:31:04 PM PDT · by dignitasnews · 11 replies
    Guardian Liberty Voice ^ | May 4, 2014 | Paul M Winters
    Since the release of Capital in the 21st Century earlier this year, its French author has consistently made headlines, although the latest media bombshell might be one he and adoring fans wish to forget. Thomas Piketty’s former lover, French Culture and Media Minister Aurelie Filippetti, has gone public about their stormy relationship, which includes a legal claim she made against the academic star for alleged physical abuse in February 2009. Their often stormy relationship came to an end as a result of the complaint, which resulted in the detainment and formal charges filed against the Socialist Party darling on March...
  • Rich States, Poor States, 2014 Edition

    04/28/2014 6:01:19 PM PDT · by TurboZamboni · 21 replies
    ALEC ^ | 2014 | Arthur B. Laffer, Stephen Moore and Jonathan Williams
    Throughout the country, states are looking for ways to energize their economies and become more competitive. Each state confronts this task with a set of policy decisions unique to their own situation, but not all state policies lead to economic prosperity. Using years of economic data and empirical evidence from each state, the authors identify which policies can lead a state to economic prosperity. Rich States, Poor States not only identifies these policies but also makes sound research-based conclusions about which states are poised to achieve greater economic prosperity and those that are stuck on the path to a lackluster...
  • 14 quotes from Milton Friedman (AKA awesome liberal smackdowns)

    04/21/2014 4:49:58 PM PDT · by The Looking Spoon · 14 replies
    The Looking Spoon ^ | 4-21-14 | The Looking Spoon
    A great way to entertain yourself and learn something at the same time is to look up old video of Milton Friedman smacking down liberals. You should be able to find the videos where most of these quotes come from on YouTube.
  • New 2014 Rich States, Poor States Rankings Show States Are Making Large Reforms

    04/15/2014 1:16:30 PM PDT · by ThethoughtsofGreg · 11 replies
    American Legislator ^ | 4-15-14 | Ben Wilterdink
    Since 2008, Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index has used the latest economic data to determine which states are doing well and which states are struggling. The past 50 years of data point to a clear connection between pro-growth policies of lower taxes, less regulations and competitive labor policies. The states that embrace free markets and limited government fare much better than their high-tax, big government counterparts. Utah, South Dakota, Indiana, North Dakota and Idaho—this year’s top five states—showcase how good economic policy can lead to economic prosperity, while New York, Vermont, Illinois, California and Minnesota—the bottom...
  • CRIMEAN ANNEXATION PROBLEMS: Crimean pensioners report robbed by Russian State Council of Crimea

    04/15/2014 9:41:47 AM PDT · by UMCRevMom@aol.com · 3 replies
    newspaper ^ | April 15, 2014 , 15:09
    In response to complaints Crimean pensioners that they robbed the Russian State Council of Crimea illegal newspaper advised them " to the events of historic proportions to look not only through the prism of their own pockets ." About this newspaper so-called Council of State of Crimea " Crimean news " , commenting on the claims of retired First Deputy Prime Minister Rustam Temirgalieva Crimea during the opening branch of the Russian National Commercial Bank in Simferopol. Read: BP admitted temporarily occupied territory of Crimea " Almost immediately threw clients representative of the Council of Ministers issues and claims ,...
  • Minnesota lawmakers OK raising minimum wage to $9.50 an hour

    04/10/2014 4:10:10 PM PDT · by Oldeconomybuyer · 20 replies
    Reuters ^ | April 10, 2014 | BY DAVID BAILEY
    Minnesota lawmakers on Thursday approved a measure raising the state's minimum wage from one of the lowest in the nation to one of the highest. The measure to bump the hourly wage to $9.50, one of dozens of wage proposals debated by lawmakers around the country this year, passed the Democrat-controlled House by a vote of 71-60. The Democrat-run Senate approved the measure on Wednesday. It now goes to Democratic Governor Mark Dayton, who supports the bill.
  • Why Economists Strike Out

    04/10/2014 7:16:48 AM PDT · by Academiadotorg · 7 replies
    Accuracy in Academia ^ | April 9, 2014 | Malcolm A. Kline
    An economist from Troy University offered an explanation for why so many of his peers failed to anticipate the 2008 recession that shows no sign of ending. “We’re not, in economics, very good at forecasting,” Scott Beaulier told an audience at the Philadelphia Society’s annual meeting in Chicago last weekend. “Sixty economists predicted 2.8 percent growth in 2008,” Beaulier reminded the crowd at the Renaissance Hotel in downtown Chicago. Obviously, they were a bit off, yet none were chastened. “What that missed prediction led to was a doubling down,” Beaulier said. “The Right said it came from too much government.”...
  • Balancing Ride-on-Demand Innovations with Common Sense Consumer Protections

    04/07/2014 1:58:58 PM PDT · by ThethoughtsofGreg · 3 replies
    American Legislator ^ | 4-7-14 | Cara Sullivan
    We all can agree that overregulation of an industry tends to chill innovative business strategies and ultimately harm the consumers the regulations were intended to protect. However, in pursuit of free market solutions, policymakers must craft public policy approaches that not only allow free markets to flourish but also protect consumers. State and local governments across the country are trying to find that balance as they explore regulations involving commercial ridesharing and ride-on-demand services, offered by transportation network companies (TNC) such as UberX, Lyft, and Sidecar. As previously noted here, these new services have put a new “hi-tech spin” on...
  • Excessive Government, antibiotics and radiation are bad medicine

    04/07/2014 11:05:55 AM PDT · by DanMiller · 4 replies
    Dan Miller's Blog ^ | April 7, 2014 | Dan Miller
    All three can be good or bad depending on how much, how and for what used. That a little bit might be good does not mean that a lot more will be better.RadiationMany years ago, in the mid to late 1940's and early 1950's when I was a young boy, shoe stores had X-ray machines permitting one to view images of the bones in one's feet. Health hazards were recognized but generally ignored. Although most of the dose was directed at the feet, a substantial amount would scatter or leak in all directions. Shielding materials were sometimes displaced to improve image quality, to make the machine...
  • Tennessee Considers Eliminating Hall Tax

    03/07/2014 2:51:08 PM PST · by ThethoughtsofGreg · 2 replies
    ALEC ^ | 3-7-14 | William Freeland
    Tennessee policymakers are considering the repeal or “localization” of the Hall Tax, a tax on investment income (interest, dividends, and capital gains). The legislature is correct to consider this a pro-growth tax reform proposal. The Hall Tax, like all taxes on investment income, takes in little revenue while creating huge economic distortions and severely hampering economic growth. Repealing the Hall Tax is a pro-growth move that is sure to pay dividends in terms of job growth and income growth for all Tennessee citizens. Tennessee is usually a state that tax-reformers hail as a role model, given that it has no...
  • Attacking Consumer Choices through the Tax Code

    03/06/2014 2:29:55 PM PST · by ThethoughtsofGreg · 13 replies
    ALEC ^ | 3-6-14 | Ben Wilterdink
    Last week, a bill was introduced but never heard in the Washington State Senate that considered a proposal to tax electronic cigarettes at 95 percent of their cost; the same as other tobacco or tobacco substitute products. A similar proposal is currently working its way through the Washington House as part of the House budget bill package. Whatever the intentions of policymakers, singling out a specific product or group of products for extra severe tax assessment is contrary to the principles of sound tax policy and will harm the state’s economy overall. First and foremost, the tax code is the...
  • (Obama-Nation) Economic Study Suggests We're Heading For A Blade Runner Future

    03/01/2014 10:01:37 AM PST · by DogByte6RER · 15 replies
    io9 ^ | February 19, 2014 | Annalee Newitz
    Economic study suggests we're heading for a Blade Runner future Earlier this month, a group of economists released the results of a massive study looking at the economic prospects of people from across the United States. What they found was that the U.S. is like a patchwork quilt of different countries, where some regions offer people the economic prospects of a typical developed nation — and other regions are more like a developing country. This study debunks a few myths about the United States, including the idea that wealthy nations have wealthy citizens. It's a powerful reminder that nations are...
  • 4 Pension Myths That Keep Us From Making Badly Needed Reforms

    02/24/2014 2:18:23 PM PST · by ThethoughtsofGreg · 2 replies
    American Legislator ^ | 2-24-14 | Will Freeland
    As 2014 brings in new struggles for cities and states to pay for employee legacy costs while still funding the essential functions of government, policymakers on both sides of the aisle are reconsidering how to provide a secure retirement for state and municipal employees in a responsible manner. Reports estimate total unfunded pension liabilities exceed $4 trillion across the 50 states, and Detroit’s municipal bankruptcy, along with dozens more over the last half decade, are just the tip of the iceberg. Many thoughtful criticisms have come from reform discussions, but also many attacks built on misconceptions, “straw man” arguments and...
  • 1978: Milton Friedman schools a brainwashed liberal

    02/17/2014 4:23:06 PM PST · by SoFloFreeper · 8 replies
    youtube ^ | 1978
    Milton Friedman speaks about public schooling and the voucher system...
  • THE ROAD TO SERFDOM

    02/14/2014 12:31:39 PM PST · by 7thson · 14 replies
    I just started reading The Road to Serfdom - just started the second chapter after slugging through the various introductions and prefaces. About halfway through the first chapter, I started wondering – not for the first time – that whenever there is a discussion on socialism, some things – to me – always seem to be missing. One, how come no one ever does a compare/contrast with socialism and our Declaration of Independence and Constitution? Two, how come no one really defines socialism? How did it start? What is the difference between communism, Marxism, socialism, fascism, Nazism? I have heard...
  • Help! Once again, please . . .

    02/10/2014 5:07:32 PM PST · by righttackle44 · 26 replies
    The internet | February 10, 2014 | Righttackle44
    I had come to you once before, my Free Republic good guy friends, for advice on what penny stocks are all about. In doing further research, I keep running across the concept of bitcoin. Somehow, I cannot find a place to start about learning what bitcoin is. It used to be simple. You read the cereal box where is said, "Send three Cornies Box Tops with check, cash, or money order for $2.95 to order your own see-into-the-future goggles. Be sure to specify whether you want the red or blue model." There's no such place on the internet. If you...
  • Minimum Wages: Few Benefits, Many Consequences

    02/10/2014 2:25:41 PM PST · by ThethoughtsofGreg · 4 replies
    American Legislator ^ | 2-10-14 | Will Freeland
    President Obama’s recent State of the Union address was the culmination of months of advocacy from Democrats and activists for a higher minimum wage. The President proposed a raise to the minimum wage for federal contractors by executive order to $10.10 per hour and called on Congress to raise the national minimum wage for all workers to the same mark, along with indexing it to inflation. A raise of the national minimum wage was framed as giving low income workers the “living wage” they deserve and fighting perceived growth in income inequality in America. Though the President’s proposal is well...
  • Utah school district apologizes for seizing kids' lunches for unpaid bills

    02/01/2014 5:43:44 AM PST · by SoFloFreeper · 40 replies
    NBC ^ | 1/31/14
    One of Utah's biggest school systems apologized Thursday and told angry parents it was investigating why dozens of elementary school children had their lunches seized and thrown away when they didn't have enough money in their accounts. "This was a mistake," said Jason Olsen, a spokesman for the Salt Lake School District. "There shouldn't have been food taken away from these students once they went through that line." The district came under national criticism after as many as 40 kids were given fruit and milk and their real lunches were thrown away Tuesday at Uintah Elementary in Salt Lake City.
  • Oklahoma Tax Cuts Back on Track

    01/27/2014 12:59:16 PM PST · by ThethoughtsofGreg · 3 replies
    American Legislator ^ | 1-27-14 | Ben Wilterdink
    Oklahoma is back on track to reduce its personal income tax and make sure it remains economically competitive. Last year, Oklahoma legislators voted to reduce the state’s personal income tax from 5.25 percent to 5 percent starting January 1, 2015. There was also a provision to lower the income tax further to 4.85 percent in 2016 if certain revenue targets are met. Governor Fallin signed the measure into law and Oklahoma became one of eighteen states to cut taxes during the 2013 legislative session. Unfortunately, the tax cut package was ultimately ruled unconstitutional by the Oklahoma Supreme Court. The package...
  • Keynes Is Dead

    01/22/2014 10:33:26 AM PST · by Kaslin · 12 replies
    Townhall.com ^ | January 22, 2014 | Mike Shedlock
    Economist Andy Xie has an interesting article in CaixinOnline that contains his views on 2014. I agree with nearly all his viewpoints but one. Please consider Breaking Out Is Hard by Andie Xie. The global economy is unlikely to accelerate in 2014. The hope that the U.S. economy is reaching escape velocity won't pan out. Abenomics is likely to fizzle out in 2014. Emerging economies will likely remain in low gear. The chances are that the global economy, weighted by nominal GDP at current exchange rates, will grow at 2 percent Globalization, turbo-powered by information technology, has cut short the...
  • Pursuing Economic “Fairness” Without Understanding Economics

    01/20/2014 10:47:21 AM PST · by Kaslin · 14 replies
    Townhall.com ^ | January 19, 2014 | Austin Hill
    “I just want what is fair for everybody…” If I’ve heard that line once, I’ve heard it hundreds of times on those occasions when I end up discussing business, economic, and public policy issues with members of the clergy. With the uptick in minimum wage worker strikes over the past few months (we saw another “round” of them at Wal-Mart stores this past week), I’ve had these conversations quite frequently. What is striking to me is that the starting point for many of these Pastors, Priests and Rabbi’s is to say that they are standing up for “workers’ rights.” But...
  • In Texas, Economic Freedom Produces Innovation and Growth

    01/13/2014 1:42:49 PM PST · by ThethoughtsofGreg · 2 replies
    American Legislator ^ | 1-13-14 | Ben Wilterdink
    The United States is in the midst of an economic paradigm shift as evidenced by the evolution of state-level economies. States that used to be bastions of economic innovation are experiencing decline, while other states pick up the slack and replace them on the cutting edge of industry. In terms of public policy, the key to this shift lies in economic freedom and pro-growth tax and regulatory policies; states are realizing these policies are more likely to grow their economies rather than levying high taxes. Data show states with lower tax burdens vastly outperform their high-tax counterparts in nearly every...
  • Escaping the Rat Maze of the Welfare State

    01/10/2014 9:15:52 AM PST · by Kaslin · 6 replies
    Townhall.com ^ | January 10, 2014 | Jonah Goldberg
    This week marks the 50th anniversary of Lyndon Johnson's "War on Poverty," and as the joke goes, "Poverty won." Five decades after a blizzard of programs began descending on the American people, the poverty rate remains essentially unchanged. That's a little unfair. What counts as poverty today would not have seemed so impoverished 50 years ago, when many of the poor lived without electricity and were no strangers to hunger. Today, the biggest health problems of the poor are more likely to stem from obesity than anything approaching starvation. Defenders of the war on poverty -- and the massive bureaucracy...
  • Obama targets poverty in San Antonio, Philadelphia and other U.S. 'zones'

    01/09/2014 8:49:47 AM PST · by Excellence · 19 replies
    Yahoo news ^ | January 9, 2014 | Roberta Rampton
    President Barack Obama is set to speak on Thursday about how he will target job creation, housing, law enforcement and education in the poorest U.S. communities, part of his pledge to narrow the gap between rich and poor in America. Obama signaled last month that he plans a new focus this year on income inequality, which he called "the defining challenge of our time", pushing to raise the minimum wage and find new ways to help poor children break out of the cycle of poverty. As part of this effort, Obama will create "promise zones" in San Antonio, Philadelphia, Los...
  • Mad as Hell (Aaron Russo 1984)

    01/07/2014 8:46:57 PM PST · by SteelTrap · 16 replies
    For all the folks who have not seen Aaron Russo's manifesto. A clip to watch when you have time - over an hour long.