Latest Articles: Economy
Trump’s direction is a road to ruin
Post Date: 2017-11-13 10:23:02 by Willie Green
Mention Kansas and peoples minds turn to Dorothy, Toto and the yellow brick road.That view almost always turns on the technicolour version of The Wizard of Oz. Not the black, white, dusty and generally unforgiving opening (and closing) shots of Kansas.Beyond that, however, it would be difficult for anyone outside of the US (and even outside of the mid-west) to name anything of note about the Sunflower State.But for the past five years Kansas has also been the centre of an important tax change.And the proponents of that change have been left with a lot of egg all over their faces.In 2010, the good people of Kansas elected Republican Sam Brownback as the states governor.His aim ...
You’re Better Off in a State With a Higher Income Tax
Post Date: 2017-10-28 11:07:31 by Willie Green
The Higher the Better, Says 2017 StudySupply-side economics isnt delivering. Many lawmakers in Congress and in statehouses around the country peddle the same supply-side theory about income taxes: the lower the tax, the more the economy will grow. But new research from the Institute on Taxation and Economic Policy reveals this economic approach is failing to deliver in the states. In fact, states with higher income taxes outperformed states with no income tax. My colleagues and I compared the economic track record of the states that have charted the most radically different courses with their income tax policies, or lack thereof. Specifically, we examined economic growth in the nine ...
Donald Trump: King of Deregulation?
Post Date: 2017-10-24 12:37:50 by Tooconservative
In a speech on October 11 promoting his tax-reform plan, Donald Trump spoke rosily of Americas economic revival, crediting himself for having cleared the way for growth. Since January of this year, we have slashed job-killing red tape all across our economy, the president said. We have stopped or eliminated more regulations in the last eight months than any president has done during an entire term. Its not even close. It seemed a characteristic bit of Trumpian magniloquencehes not only a boffo deregulator, hes the best ever! Still, it was a remarkable claim. Trump has overseen more deregulation than George W. Bush or Ronald ...
EPA Chief Scott Pruit To Repeal Obama’s Global Warming Rule
Post Date: 2017-10-09 15:34:53 by Tooconservative
Environmental Protection Agency (EPA) Administrator Scott Pruitt announced he would sign a proposed rule to repeal the centerpiece of former President Barack Obamas plan to fight global warming. Pruitt announced his intention to withdraw the Clean Power Plan (CPP) to applause from a crowd gathered at a mining event on Monday. EPA has been working to repeal the CPP for months. @EPAScottPruitt: Tomorrow, Ill be a signing a proposed rule to withdraw the so-called Clean Power Plan of the past administration. pic.twitter.com/6hjvfkoX5d Fox News (@FoxNews) October 9, 2017 The Obama administration finalized the CPP in 2015, which aims to cut carbon dioxide ...
A Conservative Tax Hike [ending state-tax deductions]
Post Date: 2017-10-01 22:13:25 by Tooconservative
President Donald Trumps tax-reform plan is in total a very expansive steaming pile of irresponsibility and the presidents argument that it will lead to sustained 6 percent economic growth is pure fantasy but it does have one attractive provision: raising taxes on blue-state progressives. The plan would eliminate the deductibility of state and local income taxes for federal tax purposes. In the highest bracket, Californians are paying 13.3 percent in state income taxes, and that money comes off the top when those high-earning Silicon Valley types are calculating federal taxes. In New York City, the Wall Street guys are paying 8.82 percent to the state and another ...
John McCain comes out against GOP's last-ditch Obamacare repeal bill
Post Date: 2017-09-22 15:12:24 by Jameson
Sen. John McCain announced Friday that he opposes the Republicans' last-ditch Obamacare repeal effort, which could almost nearly kill the bill. The Arizona Republican released a statement about the bill, proposed by Sens. Bill Cassidy, R-Louisiana and Lindsey Graham, R-South Carolina, which would repeal Obamacare's structure and replace it with block grants for states and it would roll back the 2010 health care law's Medicaid expansion.
How Price Gouging Helped My Family during a Storm
Post Date: 2017-09-07 10:24:54 by hondo68
I was grateful for Walmart because by raising its price for milk it thwarted the greedy customers who, without consideration for others, snatch up two and three gallons. Two years ago, Raleigh, North Carolina, was expecting a severe ice storm and some minor accumulation of snow. For those living in the Northeast that is just a typical Tuesday. But for those of us living in North Carolina, it is a reason to go into full panic. The Price of Milk So I decided to leave work a few hours early in order to beat the storm. Before leaving, however, my wife texted me and asked if I could stop on my way home and pick up some milk. By raising the price of milk, Walmart gave people proper incentive to ...
1:02:12 How to Get a Loan - Real Estate Investing Made Simple
Post Date: 2017-08-07 17:52:06 by A K A Stone
Cannabis company buys entire California town to create marijuana tourist destination
Post Date: 2017-08-04 19:12:58 by hondo68
© Google maps A 100-year-old ghost town founded during the California Gold Rush is being modernized for the green rush after a cannabis company purchased all the land, buildings and businesses for $5 million. On Thursday, American Green, a marijuana technology company, announced they purchased a small town in San Bernardino County with the intention of turning it into the the country's first energy-independent, cannabis-friendly hospitality destination.Read more Colorado weed sales top $100mn for 12th consecutive month "The Cannabis Revolution that's going on here in the US, has the power to completely revitalize communities in the same way gold ...
Rick Perry on supply and demand economics: Supply it, then demand will follow
Post Date: 2017-07-06 19:01:44 by Willie Green
Secretary of Energy Rick Perry sparked disbelief on Twitter Thursday after he tried to offer an economics lesson while touring a coal plant in West Virginia. "Here's a little economics lesson: supply and demand. You put the supply out there and the demand will follow," Perry said, responding to a question about a shale gas boom in comments captured by S&P Global Market Intelligence reporter Taylor Kuykendall. "The market will decide which of these they're going to pick and choose," Perry continued at Longview Power Plant. "I mean, that's really pretty simple. All too often, you have in the last eight years, you have an administration ...
Report: Steve Bannon wants to raise federal income taxes on the rich
Post Date: 2017-07-03 18:33:54 by Tooconservative
A companion piece to Andrews post this morning about the diminishing appetite among Republicans for tax cuts unto death. The mystery in Bannons case is why hes pushing this knowing that Paul Ryans going to vomit when he hears about it and the conservative, tax-cutting House Republicans caucus will quickly dismiss it out of hand. Maybe thats the point. Steve Bannon is causing a stir inside the administration by pushing an idea thats anathema to most Republicans: raising taxes on the wealthiest Americans to pay for steep middle and working-class tax cuts. (Some officials whove heard Bannons idea think its crazy, but the Presidents ...
China's JAC Motors unveils first vehicles assembled in Mexico
Post Date: 2017-07-01 21:21:34 by Anthem
JAC Motors of China has presented the first two SUVs manufactured in Mexico. It happened after JAC signed an alliance with Giant Motors Latin America and the Inbursa financial group, owned by Mexican magnate Carlos Slim, which represents an investment of around 4.4 billion pesos (236 million U.S. dollars). "It is significant for us to see our company enter the North America market, where Mexico plays an important and strategic role. We want to use this to gradually update our products and position the brand in a mature market with potential niche," David Zhang, deputy director-general of JAC International, told Xinhua on Tuesday. The vehicles are being manufactured at a plant ...
Trump Tax Plan Eyes Cut to Deduction for High-Tax States
Post Date: 2017-05-16 11:57:44 by Tooconservative
President Donald Trumps tax plan, a broad and general plan that would make supply-siders such as Ronald Reagan and Jack Kemp very happy, could be held up by a number of details that are making some Republicans nervous. One is the elimination of an income-tax deduction for high-tax states such as New York and California. Former President Ronald Reagan targeted that deduction in the 1980s the last time significant tax reform was passed but a number of influential big-state Republicans helped kill the idea. Tax reform passed anyway, first with the Kemp-Roth tax-cut package, in 1981, and then the Tax Reform Act, in 1986. They were massive reforms, and no major fix for ...
OPEC to U.S.: Please produce less oil for the ‘prosperity of the world economy’
Post Date: 2017-05-11 23:49:30 by Tooconservative
OPEC, the oil cartel really cares about the world. Thats the message of a new monthly report issued Thursday. OPEC says what the world needs now is a bit less supply on the global oil market. In particular, they would really appreciate it if the United States would stop producing so much damn oil
for the good of the world of course. From CNN Money: The report said that balancing the market would require the collective efforts of all oil producers and should be done not only for the benefit of the individual countries, but also for the general prosperity of the world economy. OPEC said that one producer in particular is to blame: The U.S., where shale ...
Sorry America, Your Taxes Aren’t High
Post Date: 2017-04-12 09:04:46 by Willie Green
But if you disagree, think about moving to Chile or New Zealand. Americans generally feel theyre being over-taxed, especially around this time of the year. Even their president agrees:With lower taxes on Americas middle class and businesses, we will see a new surge of economic growth and development, Donald Trump said this month, expanding on an earlier promise to cut Uncle Sams bill massively. But the reality is that the average U.S. worker pays quite a bit less than he would elsewhere in the developed world. And whats more, this has been the case for a long time. The Organization for Economic Cooperation and Development analyzed how 35 ...
Amazing: US Debt Decreased by More Than $60 Billion Since Trump Inauguration
Post Date: 2017-03-12 16:28:05 by 3-Dee
Amazing: US Debt Decreased by More Than $60 Billion Since Trump Inauguration Jim Hoft Mar 10th, 2017 8:27 am 596 Comments Guest post by Joe Hoft The US debt reduced by more than $60 Billion since the Trump Inauguration! On January 20th, the day of the Trump Inauguration, the US Debt stood at $19,947 billion. On March 8th, more than a month later, the US Debt load stood at $19,879 billion. Trump has cut the US Debt burden by $68 billion and 0.3% in since his inauguration! By comparison, under President Obama, the US Debt burden increased by more than $320 billion after his inauguration through March 8th 2009. Obama increased the US Debt by 3.1% during this time period and signed the ...
US adds 235,000 jobs, unemployment rate falls to 4.7%
Post Date: 2017-03-10 10:03:46 by Justified
The February jobs report is out and its a beat. In February, the U.S. economy added 235,000 jobs and the unemployment rate fell to 4.7%. Economists were looking for payrolls to rise by 200,000 with the unemployment rate dropping to 4.7%. Earnings figures in February were also positive with average hourly earnings rising 0.2% over the prior month and 2.8% over the prior year. Januarys earnings figures were also revised up to show wages grew 2.8% over last year, more than the 2.5% that had been reported. This report, as markets had expected, likely clears the way for a rate hike from the Federal Reserve next week. Elsewhere in the report, we saw the labor force participation ...
MacGuineas: U.S. Faces $14 Trillion Deficit in 10 Years as Interest Is ‘Single Fastest-Growing Part of the Budget’
Post Date: 2017-02-28 21:13:30 by cranky
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, discussed with Breitbart News Daily SiriusXM host Alex Marlow the serious nature of current and future budget issues facing the nation. We are on track if we do nothing over the next ten years doing nothing, passing no laws we will borrow nine trillion dollars, said MacGuineas on Tuesdays show. She also pointed out that as of now, Trumps current plans based upon his campaign rhetoric would add another five trillion dollars to the deficit. Our debt is already at record levels, she added. Its about seventy-seven percent of GDP, and we will borrow ...
The End Of A 100 Year Global Debt Super Cycle Is Way Overdue
Post Date: 2017-02-28 08:07:56 by U don't know me
March 2017: The End Of A 100 Year Global Debt Super Cycle Is Way Overdue By Michael Snyder, on February 27th, 2017 Global Debt Super Cycle - Public DomainFor more than 100 years global debt levels have been rising, and now we are potentially facing the greatest debt crisis in all of human history. Never before have we seen such a level of debt saturation all over the planet, and pretty much everyone understands that this is going to end very, very badly at some point. The only real question is when it will happen. Many believe that the current global debt super cycle began when the Federal Reserve was established in 1913. Central banks are designed to create debt, and since 1913 the U.S. ...
Stockman: "After March 15 Everything Will Grind To A Halt"
Post Date: 2017-02-27 10:09:09 by cranky
Two weeks after David Stockman warned that "the market is apparently pricing in a huge Trump stimulus. But if you just look at the real world out there, the only thing that's going to happen is a fiscal bloodbath and a White House train wreck like never before in U.S. history" and exclaimed that, when looking at markets, "what's going on today is complete insanity" he is back with another interview, this time with Greg Hunter of USAWatchdog in which he, once again warns, that a giant fiscal bloodbatch is coming soon, and urges listeners to pay especially close attention to the March 15, 2017 debt ceiling deadling, at which point everything could "grind to a ...
Retail Apocalypse 2017
Post Date: 2017-02-27 08:28:25 by U don't know me
Retail Apocalypse 2017 - J.C. Penney and Family Christian Stores are the latest retail giants to announce widespread store closings. As you will see below, J.C. Penney plans to close between 130 and 140 stores, and Family Christian is closing all of their 240 stores. In recent months the stock market has been absolutely soaring, and so most people have simply assumed that the real economy must be doing well. But that is not the case at all. In fact, the retail apocalypse that I have been documenting for quite some time appears to be gaining momentum. J.C. Penney is not in as rough shape as Sears is just yet, but it is definitely on a similar trajectory. In the end, they are ...
Utter Decimation: Men in Labor Force Down to 78 Percent in 2015
Post Date: 2017-02-10 10:56:25 by Justified
Utter Decimation: Men in Labor Force Down to 78 Percent in 2015 By Martin Morse Wooster | February 9, 2017 | 1:46 PM EST A man plays an Xbox game at his home in Jupiter, Florida. (AP Photo/Rick Silva) As the Trump administration continues to figure out ways to put people back to work, they have to deal with a simple demographic fact: there are tens of millions of American men, in the prime years of their working lives, who have dropped out of the labor force. Its not that these men are trying, and failing, to get jobs. Theyve simply given up. What is causing this problem and what can be done about it? Nicholas Eberstadt explores this issue in "Men Without Work: The ...
Canadian Official On NAFTA Renegotiation: "Mexico Is In A Terrible, Terrible Position. We Are Not"
Post Date: 2017-01-27 12:02:48 by Tooconservative
As reported yesterday, Mexico is not at all looking forward to starting the process of renegotiating NAFTA with Donald Trump, explicitly warning the US that "there are very clear red lines that must be drawn from the start." What these lines are will be explained by Economy Minister Ildefonso Guajardo and Foreign Affairs Secretary Luis Videgaray who are both meeting with US officials in Washington on Wednesday and Thursday, setting the stage with next week's visit from Mexico President Enrique Pena Nieto. Only, Enrique Pena Nieto may not even come, because according to an AP report late on Wednesday, the Mexican President is rethinking his scheduled meeting with President ...
In the Shopping Cart of a Food Stamp Household: Lots of Soda
Post Date: 2017-01-14 17:35:33 by misterwhite
What do households on food stamps buy at the grocery store? The answer was largely a mystery until now. The United States Department of Agriculture, which oversees the $74 billion food stamp program called SNAP, has published a detailed report that provides a glimpse into the shopping cart of the typical household that receives food stamps. The findings show that the No. 1 purchases by SNAP households are soft drinks, which accounted for about 10 percent of the dollars they spent on food. In this sense, SNAP is a multibillion-dollar taxpayer subsidy of the soda industry, said Marion Nestle, a professor of nutrition, food studies and public health at New York University. ...
It’s A Retail Apocalypse: Sears, Macy’s And The Limited Are All Closing Stores
Post Date: 2017-01-09 00:11:27 by U don't know me
Its A Retail Apocalypse: Sears, Macys And The Limited Are All Closing Stores By Michael Snyder, on January 8th, 2017 It has only been two weeks since Christmas, and already we are witnessing a stunning bloodbath of store closings. Macys shocked the retail industry by announcing that they will be closing about 100 stores. The downward spiral of Sears hit another landmark when it was announced that another 150 Sears and Kmart stores would be shutting down. And we have just learned that The Limited is immediately closing all stores nationwide. If the U.S. economy is doing just fine, then why are we experiencing such a retail apocalypse? All over America, vast shopping malls ...
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