If we are to be more like Europe, as some have argued, then perhaps we should learn from their mistakes when a highly progressive and unfair tax system is imposed on the “rich.” Evidently, a new 50 percent tax rate on the rich is not bringing in the anticipated revenue that the British Treasury expected. [...]
An outrageous story from my state of Texas, which normally touts itself as being business-friendly: The state’s Cottage Food Law requires home bakers who sell their products to label their goods with name, address and a statement that the products were made in a kitchen not inspected by health authorities (obviously). But now the state’s [...]
The president recently spoke to a group of UPS workers in Nevada, where he expressed his wants and desires for the economy. Referring to his SOTU speech, he told the crowd, “…where we’re making stuff and selling stuff and moving it around and UPS drivers are dropping things off everywhere.” Last time I checked our [...]
I watched last night’s State of the Union address in hopeful anticipation that all taxpayers, from individuals to small business owners to multinational corporations, could look forward to a fairer, more simplified system. No such luck. Much of the speech was spent pointing out who or what is to blame for the sluggish economy, income [...]
Perhaps I should stop espousing the benefits and long-term gains of equities and start looking for a public sector job. If I did so, I could evidently “buy” my way into generous pension benefits that appear to far outperform the long-run rate of return on stock investments. In 21 states, teachers, state or local government [...]
A new survey from the Employee Benefits Research Institute and reported in the Wall Street Journal found that 0.2 percent of 401(k) participants have reached $1 million in savings in their 401(k) plans. They keys to this success? Consistent saving over at least 20 years and contributing high amounts – if possible, the maximum annual amount allowed [...]
No sooner did I post a blog on the potential adverse effects of the minimum wage, here comes a new government program to counter a problem that has resulted from government’s tinkering in the labor market. President Obama’s new “We Can’t Wait” jobs programs aims to help 250,000 young people find summer jobs in the [...]
Here we go again…beginning January 1, 2012, eight states raised their minimum wage. The way news articles have hyped this, one would think that somehow raising the wage another 30 cents is going to catapult the bottom 99 percent into the top 1 percent. According to the Huffington Post “the new rates will translate into hundreds [...]