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Keyword: economics

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  • 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 · 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...

    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 ^ | 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 ^ | 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 ^ | 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.
  • Breakout: Lawmakers Enlist Powerful New Wage and Wealth Gap Warrior - The Pope

    01/07/2014 11:51:33 AM PST · by justiceseeker93 · 50 replies
    Yahoo! Finance | Matt Nesto
    “Let us leave a spare place at our table: a place for those who lack the basics, who are alone.” - Pope Francis via Twitter January 7, 2014 In three short phrases, Pope Francis has once again taken the lead in advocating for economic justice and fairness. Where not long ago a battle raged over the growing and disproportionate wealth of the so-called “one percent,” the new 77-year old leader of the Catholic church has gained more support in nine months than the Occupy Wall Street movement or Fast Food Forward have in five years. This new found papal popularity...
  • Sowell: The 'Trickle-Down' Lie

    01/06/2014 12:02:09 PM PST · by jazusamo · 53 replies
    Creators Syndicate ^ | January 7, 2014 | Thomas Sowell
    New York's new mayor, Bill de Blasio, in his inaugural speech, denounced people "on the far right" who "continue to preach the virtue of trickle-down economics." According to Mayor de Blasio, "They believe that the way to move forward is to give more to the most fortunate, and that somehow the benefits will work their way down to everyone else." If there is ever a contest for the biggest lie in politics, this one should be a top contender. While there have been all too many lies told in politics, most have some little tiny fraction of truth in them,...
  • Is Lovie enough to fill the seats?

    01/04/2014 7:07:59 AM PST · by 4Runner · 45 replies
    The Tampa Tribune ^ | Joe Henderson
    The first rule of public relations disasters is to change the narrative as quickly as possible. With that in mind, I’ll give Family Glazer a cookie for their rapid response in turning the 4-12 stench that was sooooo last season into a Loviefest. Well done. New coach Lovie Smith is a proven winner with local ties, and having a team that competes for the playoffs every year would certainly be refreshing. Call me jaded, though, on at least one big point. I’m not sure even winning automatically will fill Raymond James Stadium every Sunday and beyond. I think fans are...
  • What Does Jesus mean by “Unrighteous Mammon?”

    08/07/2013 4:14:56 AM PDT · by markomalley · 12 replies
    Archdiocese of Washington ^ | 8/7/2013 | Msgr. Charles Pope
    Staying in a kind of reflective mode from Last SundayÂ’s Gospel on Greed and how to avoid it, there may be value in pondering why Jesus called some (or all) mammon (wealth) unrighteous. The phrase occurs in the Gospel of Luke where Jesus says: I tell you, make friends for yourselves by your use of dishonest wealth, so that, when it fails, they will welcome you to eternal dwellings. (Luke 16:9). We discussed yesterday what it means to be welcomed into eternal dwellings and who these friends who welcome us really are. But in this post perhaps we can consider...
  • TransCanada CEO: I remain “very confident” President Obama will approve Keystone XL

    12/24/2013 1:41:18 PM PST · by rktman · 4 replies ^ | 12/23/2013 | Erika Johnsen
    TransCanada Corp. Chief Executive Officer Russ Girling said he is “very confident” the controversial Keystone XL pipeline will be approved by President Barack Obama. In a recent interview with Bloomberg TV, Girling said the review process is near its end and he expects a decision “in the coming weeks we’d see a permit … that’s our hope.” “I remain very confident. It’s a very important project” and the safest way to move oil to the U.S., Girling said. “I remain 100% confident this project makes sense for energy security and all the jobs and economic benefits that come with it,”...
  • 83 Numbers From 2013 That Are Almost Too Crazy To Believe

    12/18/2013 3:56:29 PM PST · by BAW · 30 replies
    Investment Watch Blog ^ | Dec 16, 2013 | Michael Snyder
    During 2013, America continued to steadily march down a self-destructive path toward oblivion. As a society, our debt levels are completely and totally out of control. Our financial system has been transformed into the largest casino on the entire planet and our big banks are behaving even more recklessly than they did just before the last financial crisis. We continue to see thousands of businesses and millions of jobs get shipped out of the United States, and the middle class is being absolutely eviscerated. Due to the lack of decent jobs, poverty is absolutely exploding. Government dependence is at an...

    12/12/2013 4:09:36 PM PST · by RightSideNews · 2 replies
    Right Side News ^ | 12/12/2013 | Eliana Benador
    While American babies are born with 54,320 debt on each citizen, PLUS a $149,947.00 per taxpayer on their shoulders, Australia’s national debt is a half-a-trillion only. The amounts are simply staggering. And, as the National Debt Clock keeps turning, numbers are at 17,224,121,XXX,XXX trillion. The clock’s mechanism is so accurate and runs at such speed that a naked eye can barely catch changes at the infinitesimal seconds at which it turns. As American citizens at large need to understand the methodology of a debt and the way to recovery, we repeat here the economic formula, courtesy of Investopedia: GDP =...
  • Obama says we should raise the minimum wage, but advertises for “unpaid” interns

    12/12/2013 3:22:26 AM PST · by grundle · 18 replies
    wordpress ^ | December 12, 2013 | Dan from Squirrel Hill
    Dan from Squirrel Hill's Blog Obama says we should raise the minimum wage, but advertises for “unpaid” interns In February 2013, Obama said:“Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full-time should have to live in poverty, and raise the federal minimum wage to $9.00 an hour. This single step would raise the incomes of millions of working families. It could mean the difference between groceries or the food bank; rent or eviction; scraping by or finally getting ahead. For businesses across the country, it would mean customers with more money in their pockets....
  • I dare liberals to buy a McDonald’s franchise, and pay the workers $15 an hour

    12/11/2013 4:05:35 AM PST · by grundle · 73 replies
    wordpress ^ | December 11, 2013 | Dan from Squirrel Hill
    Dan from Squirrel Hill's Blog I dare liberals to buy a McDonald’s franchise, and pay the workers $15 an hour Liberals are always talking about how easy it would be for McDonald’s to pay its workers $15 an hour.However, so far, no liberal has actually bought a McDonald’s franchise and paid those wages.So, I dare liberals to prove that it’s as easy as they claim it is. I dare liberals to buy a McDonald’s franchise, and pay the workers $15 an hour.
  • Poll: If you could abolish income inequality, or poverty, but not both, which one would you choose?

    12/08/2013 9:14:28 AM PST · by grundle · 73 replies
    wordpress ^ | December 8, 2013 | Dan from Squirrel Hill
    If you could abolish income inequality, or poverty, but not both, which one would you choose? Scenario #1: Income inequality has been abolished, but poverty remains. Scenario #2: Poverty has been abolished, but income inequality remains.
  • Would Someone Just Shut That Pope Up? (no, he doesn't really mean that!)

    12/06/2013 4:43:34 AM PST · by steelhead_trout · 74 replies
    The American Conservative ^ | 12/5/2013 | Patrick J. Deneen
    Since the release of Evangelii Gaudium there have been countless articles and commentary about the economic portions of Pope Francis’s Apostolic Exhortation. Some of the commentary has been downright bizarre, such as Rush Limbaugh denouncing the Pope as a Marxist, or Stuart Varney accusing Francis of being a neo-socialist. Not far below the surface of many of these critiques one hears the following refrain: why can’t the Pope just go back to talking about abortion? Why can’t we return the good old days of Pope John Paul II or Benedict XVI and talk 24/7/365 about sex? Why doesn’t Francis have...
  • Test Your Knowledge of Basic Economics...

    12/05/2013 9:01:24 AM PST · by Reaganite Republican · 9 replies
    Reaganite Republican ^ | 05 December 2013 | Reaganite Republican
  • $15 minimum wage means layoffs: White Castle exec

    12/04/2013 6:21:51 PM PST · by grundle · 72 replies
    CNBC ^ | December 4, 2013 | Drew Sandholm
    A top executive at White Castle cooked up a spicy retort on Wednesday to calls by some fast-food workers to raise the minimum wage to $15 a hour from $7.25, arguing such an increase would force the hamburger chain to close nearly half of its locations and lay off thousands of workers. "To more than double the federally mandated starting wage wouldn't be bad for White Castle, it would be absolutely catastrophic," Jamie Richardson, vice president of White Castle, told CNBC's "Closing Bell" on Wednesday. Such an increase would force the closure of more than 200 of its 406 locations...
  • Has the Asian Tiger Gone Tiger?

    12/03/2013 5:50:46 AM PST · by Kaslin · 10 replies ^ | December 3, 2013 | Pat Buchanan
    When Montecore, one of two white tigers in the Las Vegas act of Siegfried and Roy, turned and almost killed Roy on stage, the reaction was that the tame and complacent beast had gone berserk. Comedian Chris Rock was nearer the mark: "That tiger ain't go crazy; that tiger went tiger." Seems our Asian tiger is going tiger as well. Sharply escalating its clash with Japan over ownership of the Senkaku Islands, Beijing has established an air defense identification zone over the islands and a huge stretch of the East China Sea. Before entering its ADIZ, says Beijing, all...
  • Sorry, Folks, Rich People Actually Don't 'Create The Jobs'

    11/30/2013 11:16:07 AM PST · by SeekAndFind · 88 replies
    Business Insider ^ | 11/30/2013 | Henry Blodget
    As America struggles with high unemployment and record inequality, everyone is offering competing solutions to the problem. In this war of words (and classes), one thing has been repeated so often that many people now regard it as fact. "Rich people create the jobs." Specifically, by starting and directing America's companies, entrepreneurs and rich investors create the jobs that sustain everyone else. This statement is usually invoked to justify cutting taxes on entrepreneurs and investors. If only we reduce those taxes and regulations, the story goes, entrepreneurs and investors can be incented to build more companies and create more jobs....
  • Barack Obama And The "Isms"

    11/26/2013 11:08:48 AM PST · by Rusty0604 · 3 replies
    Zerohedge ^ | 11/26/2013 | Tyler Durden
    Originally posted at Monty Pelerin's World, “Capitalism is not things; it is a mentality.” So stated Ludwig von Mises in a talk in mid 1952 in a series of lectures entitled Marxism Unmasked which he gave at the San Francisco library. Mises provided examples that illustrated this mentality or its lack. One pertained to India (my emboldening): Nehru [Jawajarlal Nehru, 1889 - 1964] has been quoted as saying ”We want to give every encouragement to private industry.We won’t expropriate private businesses for at least ten years — perhaps not even that soon.” You cannot expect people to invest if you...
  • It’s Very Simple, States Should Cut Taxes To Boost Economic Growth

    11/25/2013 1:08:21 PM PST · by ThethoughtsofGreg · 29 replies
    American Legislator ^ | 11-25-13 | Ben Wilterdink
    There was a strong trend of states cutting taxes this year, with 18 states passing significant tax cuts into law during the 2013 legislative session. With one-third of the United States cutting taxes, it is clear economic growth has become a top priority for states that want to dig out of the dismal economy that followed the recession. The 2013 tax cuts range from a nearly complete overhaul of a state’s tax code to a few small changes. The year’s biggest tax cut was enacted in North Carolina as part of a comprehensive tax reform package. Ohio also passed major...
  • There are four ways in which you can spend money

    11/24/2013 12:51:51 PM PST · by grundle · 7 replies ^ | Milton Friedman are four ways in which you can spend money. 1) You can spend your own money on yourself. When you do that, why then you really watch out what you’re doing, and you try to get the most for your money. 2) Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I’m not so careful about the content of the present, but I’m very careful about the cost. 3) Then, I can spend somebody else’s money on myself. And if I spend somebody else’s money on myself,...
  • Patent trolls spell trouble for America’s economy

    11/23/2013 3:15:08 PM PST · by ThethoughtsofGreg · 11 replies
    American Legislator ^ | 11-23-13 | Curt Bramble
    Our nation’s founders incorporated the concept of individual property rights — including intellectual property rights — into the Constitution because they knew that these rights spur innovation and help promote economic growth. However, patent assertion entities (PAEs), otherwise known as “patent trolls,” inhibit the innovation and economic growth that patents typically foster. Even more alarming, with the creation of government-sponsored patent trolls (GSPTs) — which are financially backed by a national government — patent trolls have gone global. Patent trolls, which can either be companies or government-sponsored organizations, are entities that buy large patent portfolios — not to use the...
  • What is Socialism?

    11/21/2013 6:40:43 PM PST · by TenthAmendmentNetwork · 4 replies
    Seedless Wry ^ | 11/21/2013 | Marc Gindin
    What is socialism if not a journey into the mind and soul of a quivering little boy hiding in a big boy suit? His jacket and tie mask a brooding fear of failure and a yearning for validation that all is wrong with the world, while they also drive his own self-righteous laziness.
  • Source of Obamacare Woes: Economic Ignorance

    11/21/2013 2:37:58 PM PST · by NYer · 11 replies
    Crisis Magazine ^ | November 21, 2013 | Emil B. Berendt
    It seems that every day new revelations emerge regarding the Affordable Care Act (ACA). Supporters of the ACA are now starting to distance themselves from it as we hear reports of insurance companies dropping subscribers, households subscribing on the exchanges in unexpectedly low numbers and insurance costs higher than promised. Even the liberal New York Times ran an op-ed piece entitled “Obamacare, Failing Ahead of Schedule.” Earlier this week President Obama vowed that, “I’ve run my last political campaign, but I’ve got one more campaign in me and that’s making sure that this [APA] law works.” The goal of the...
  • Why The Great Recession Was Different

    11/20/2013 9:41:31 AM PST · by MichCapCon · 8 replies
    Capitol Confidential ^ | 11/18/2013 | James Hohman
    Did you know that the United States lost more jobs during the 2001 recession than during the Great Recession? It's true. In the worst three quarters of the 2001 recession the U.S. economy lost 26.1 million jobs. In the worst three quarters of the Great Recession, the economy lost 25.1 million jobs. The reason the Great Recession was remarkable was not because of the job losses. It was because the spike in job losses coupled with a lack of job gains. In the monthly employment releases, people are told how many jobs exist in the U.S. and whether the economy...
  • Why did Democrats give Obamacare an annual marriage tax of up to $11,028 per couple?

    11/13/2013 6:42:08 PM PST · by grundle · 12 replies
    wordpress ^ | November 13, 2013 | Dan from Squirrel Hill
    Dan from Squirrel Hill's Blog Why did Democrats give Obamacare an annual marriage tax of up to $11,028 per couple? In front of the U.S. Supreme Court, the Obama administration argued that Obamacare is a tax.According to the Obamacare calulator, Obamacare places an annual tax on married couples for being married instead of single. The amount of this tax depends upon the ages, incomes, and parental status of the married couple.According to the Obamacare calculator, the extreme case of this tax occurs with a 60-year-old married couple with no children, where the two spouses have identical incomes totaling $62,041 per year....
  • Watch SeaTac's $15 Minimum Wage Experiment

    11/11/2013 5:09:33 PM PST · by grundle · 22 replies ^ | November 11, 2013
    'SeaTac has just volunteered to conduct an economic experiment on itself.' Nov. 10--SEATAC voters' apparent acceptance of the $15 minimum wage has pumped up political excitement for a $15 wage in Seattle. So has the strong showing of Kshama Sawant, who made the $15 minimum a centerpiece in her campaign against Seattle City Councilmember Richard Conlin. But there is more to this than activist adrenaline. Fifteen dollars is 61 percent higher than the 2014 minimum wage for Washington, $9.32, which itself is the highest minimum wage of any state. This page opposed the $15 wage because of the possible economic...
  • Laurence Kotlikoff: Is Hyperinflation Just Around the Corner? (Yes)

    11/10/2013 12:07:29 PM PST · by Zakeet · 30 replies
    Yahoo Finance ^ | September 27, 2013 | Laurence Kotlikoff
    In his parting act, Federal Reserve Chairman Ben Bernanke has decided to continue printing some $85 billion per month (6 percent of GDP per year) and spend those dollars on government bonds and, in the process, keep interest rates low, stimulate investment, and reduce unemployment. Trouble is, interest rates have generally been rising, investment remains very low, and unemployment remains very high. Bernanke’s dangerous policy hasn’t worked and should be ended. Since 2007 the Fed has increased the economy's basic supply of money (the monetary base) by a factor of four! That's enough to sustain, over a relatively short period...
  • Colorado Taxpayers Reject Tax Increases, Choose Growth

    11/07/2013 1:56:29 PM PST · by ThethoughtsofGreg · 4 replies
    American Legislator ^ | 11-7-13 | Ben Wilterdink
    On Tuesday a ballot measure to raise income taxes on Coloradans to raise funds for increased education spending failed. In fact, the measure, Amendment 66, didn’t just fail–it went down in flames. The measure was defeated by a 32 percent margin. This major defeat was in spite of the fact that the measure’s backers outspent the opponents by a large margin, raising $10 million to support the initiative, including a $1 million each from New York Mayor Michael Bloomberg and Bill and Melinda Gates. Amendment 66 would have eliminated Colorado’s flat rate income tax of 4.63 percent in favor of...
  • Health Insurance for Under $50 per Month?

    10/31/2013 2:49:57 PM PDT · by NaturalBornConservative · 27 replies
    Natural Born Conservative ^ | October 31, 2013 | Larry Walker Jr
    “If it sounds too good to be true, it usually is.” ~ Better Business Bureau - By: Larry Walker, Jr. -According to the U.S. Department of Health and Human Services (HHS) there are 7.2 million uninsured Americans ages 18 to 34 years, living in single-person households in the 34 states. And, of that total, 2.9 million are eligible to buy health insurance on either federal or state partnership insurance marketplaces. And among those 2.9 million, 1.3 million, or 46%, could pay less than $50 a month for a “Bronze Plan”.Hmmm. That sounds, well, too good to be true. Let’s see...