Free Republic

One of President Obama's campaign promises was not to raise taxes on middle-class Americans. So here's my question: If there's a corporate tax increase either in the form of "cap and trade" or income tax, does it turn out to be a middle-class tax increase? Most people would say no but let's look at it. There's a whole subject area in economics known as tax incidence -- namely, who bears the burden of a tax? The first thing that should be recognized is that the burden of a tax is not necessarily borne by the party upon whom it is...

The euro, worth 83 cents in the early George W. Bush years, is at $1.45. The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used to be worth 65 cents, is worth more than the U.S. dollar for the first time in half a century. Oil is over $90 a barrel. Gold, down to $260 an ounce not so long ago, has hit $800. Have gold, silver, oil, the euro, the pound and the Canadian dollar all suddenly soared in value in just a few years? Nope. The dollar has...

CAPITOL HILL (AP) - House Democrats are targeting (b) billions of dollars in oil company tax breaks for quick repeal next year.But hot-button issues such as a tax on the oil industry's windfall profits or sharp increases in automobile fuel economy are not expected to gain much ground given the narrow Democratic majorities in the House and Senate.For the most part, the tax benefits due for quick review are ones that lawmakers talked of repealing this year when summer fuel prices soared and oil companies took huge profits.

WAPATO, Yakima County — Heinz Humann was late this year. Later than he's ever been. His workers finished thinning out apple and pear trees to prepare for the harvest in mid-August. But they should have been finished a month earlier. The past few months, it's been tough for Humann to find enough workers for what he can afford to pay. He's had plenty of work, he says. But it seems there's no one willing to do it. Add to that the other issues that hurt his bottom line, such as taxes and environmental regulations, and "I can see the writing...

For education and discussion only. Not for commercial use. Today, the Commerce Department announced the January trade deficit was $68.5 billion, up from $65.1 billion in December. The consensus forecast for January was $66.6 billion. My forecast, published by Reuters, was $68 billion. The trade deficit exceeds 6 percent of GDP and is weighing down economic growth. Although petroleum plays a key role, it is certainly not the whole story. Since December 2001, the monthly trade deficit has increased by $42 billion. Petroleum accounts for less than half of that change. The Wal-Mart effect is broadly apparent. The January trade...

Where/When: Laurens, South Carolina - September 1, 2005 Can anybody in near or in Laurens verify? It doesn't look like it's photoshopped.

Also, what effect will Katrina have on the economy? Will high gas prces bring a recession or more oil exploration and new refineries?

BEIJING (Reuters) - China's trade surplus for June swelled five-fold from a year earlier as exports grew much faster than imports, offering more ammunition for foreign critics who argue that Beijing should let the yuan rise in value. The June surplus grew to $9.68 billion, exceeding forecasts of $8.0 billion and towering above the $1.8 billion surplus recorded for June 2004.