The U.S. tax code is a complex and burdensome maze of rates, exemptions, exclusions, credits, deductions, phase-out levels, and exceptions. People may not agree on anything else, but the nature of the tax code is certainly something that anyone of any political persuasion would agree on.
Everybody knew it was coming. With the economy continuing to founder, it was only a matter of time before Ben Bernanke and the Federal Reserve decided to turn once again — like the proverbial pig to its wallow — to printing money in a vain attempt to jolt the moribund American economy back to life. As with the first two such feckless efforts, they’re dressing this one in fancy verbiage — “quantitative easing” — that fools no one. This third round of quantitative easing — QE3 for short — announced Thursday and set in motion Friday, is just the digital equivalent of printing still more money, money that banks and other financials will either hoard in vaults or pour into equities, driving up stock prices but doing little to enliven the economy as a whole.
Keynesian policies allegedly designed (and sold to the American people) to stimulate the economy are actually having the perverse effect of stimulating government spending and putting off the inevitable day of reckoning when interest rates inevitably begin to rise.
The unintended consequence of low interest rates is the transfer of wealth from savers to the government.
Increasing gun sales are driving revenues and profits at Smith & Wesson and Sturm, Ruger & Company, thanks to Obama, "preppers" — and even "zombies."
For the last decade, household incomes have been declining steadily, and the American middle class is being squeezed. In fact, barring a very dramatic change in political sentiment, the American middle class — the chief source of productivity and vitality in America for centuries — will likely be compressed out of existence.
Supply Side economics school godfather Arthur Laffer penned an op-ed column for the Wall Street Journal August 6 that claims increases in government spending inhibited economic growth during the recession, as indicated by a study showing "increases in government spending from 2007 to 2009 and subsequent changes in GDP growth rates. Of the 34 Organization for Economic Cooperation and Development [OECD] nations, those with the largest spending spurts from 2007 to 2009 saw the least growth in GDP rates before and after the stimulus."
After reviewing the weak jobs report from the Bureau of Labor Statistics (BLS) that was released last Friday, the president of the Federal Reserve Bank of Boston, Eric Rosengren, decided it was time to call for more money to be added to the economy.
Federal subsidies distributed to the private sector in Fiscal Year 2012 cost American taxpayers nearly $100 billion, according to a startling new report by the libertarian Cato Institute. “That includes direct and indirect subsidies to small businesses, large corporations, and industry organizations,” the think tank stated in its policy analysis.
In an effort to curb an array of new regulations, House Republicans passed a bill Thursday that would shackle major federal rules until the national unemployment rate falls to six percent. Authored by Rep. Tim Griffin (R-Ark.), the legislation hones in on excessive or poorly-written rules that could halt job growth and impose burdensome costs on American businesses.
President Obama recently commented that business success relied upon government to succeed. Operators of lemonade stands, however, have found govenrment an obstacle, not an aid, to success.
As a contentious “farm” bill rages in Congress, House Minority Whip Steny Hoyer (D-Md.) argued Tuesday that unemployment insurance and food stamps (which are included in the legislation) are the two “most stimulative” measures to boost economic growth.