Tag: "economy"

The Camp Tax Reform Plan Is a Good Start With a Few Caveats

Rep. Dave Camp (R-MI) unveiled a plan today (executive summary here) to simplify the tax code and reduce income tax rates, from the current seven rates to just two rates:  10 percent and 25 percent.   It also groups personal family exemptions into three categories instead of the usual six:  a larger standard deduction, a larger […]

Taking from the Top 40 Percent

Last week, the Wall Street Journal ran an article written by Scott Hodge of the Tax Foundation.  If we want true income equality, according to Mr. Hodge, income would have to be taken from the top 40 percent of income earners and distributed to the bottom 60 percent.  So redistribution is not just limited to […]

And the CBO Report is Supposed To Be Good News?

In a rather bizarre White House press briefing yesterday, Chairman of the Council of Economic Advisers Jason Furman told reporters that the latest estimate that the Affordable Care Act will cause the loss of some 2.5 million jobs over the next 10 years is apparently a good thing.  He responded to a question about the Congressional […]

Here We Go Again…the State of the Union

It’s that time again.  For those of you who missed the SOTU last night, here are a few highlights of some eyebrow-raising claims and questionable statements: “Upward mobility has remained stagnant…” If the meaning is that upward mobility has not changed, the president is correct.  But the term “stagnant” is normally associated with something that is negatively stubborn, such as […]

Don’t Raise the Minimum Wage, Says a Former Minimum Wage Employee

Interesting perspective from a former fast food and retail employee-turned-columnist John Hawkins.  Read here at Townhall.    

Is Anybody Working in Obama’s Economy?

Joblessness in Obama Nation: U-6, Participation Rate Dismal (Washington Times) For Some, Joblessness is not a Temporary Problem (New York Times) Census Bureau: Means-Tested Gov’t Benefit Recipients Outnumber Full-Time Year-Round Workers (CNS News) Female Participation in Labor Force Hits 24-Year Low (Washington Examiner) casino online U.S. Labor Force Participation Rate is at a 35-Year Low (PressTV) […]

Obama’s Short-Term Memory

As each side accuses the other of shutting down the government, President Obama said something today that some of his biggest constituents may consider a slap in the face, or at best a colossal oversight.  At an event in Maryland today during which he criticized House Speaker Boehner, he said, online prescription glasses “If you’re […]

Retirement and Dependency (In Reverse)

A CNN Money article highlighted a recent survey examining worldwide retirement trends.  The survey, conducted by HSBC, found that 18 percent of Americans expect never to retire.  This is only slightly lower than the 19 percent of British who expect never to retire, but much higher than the global average of 12 percent. When I first read […]

Do You Want a Robot With Your Fries?

Today’s media reports have breathlessly lauded a nationwide walk-out among employees of various fast food chains.  The “beef” (no pun intended) is that workers are demanding a minimum wage of $15 dollars an hour, twice what most of them are paid now.  They claim they cannot make ends meet on the federal minimum wage, and […]

College Degrees: You Read it Here First (Again)

The recently reported on the diminishing value of the bachelor”s degree compared to a two-year degree at a community college.  With the billions of dollars of federal money poured into college aid and the predicted shortages of workers in jobs that require technical training, it is no wonder that more people are questioning the value […]