April 3, 2013
Before the Senate passed its first budget in nearly four years, Sen. Mike Enzi (R-WY) proposed an amendment — the Marketplace Fairness Act — that would make it easier for states to collect online sales taxes. Despite the numerous policy and constitutional issues this bring, the amendment passed by a vote of 75 to 24.
Ron Paul, who didn’t seek re-election last year and serves as chairman of Campaign for Liberty, explained [...]
Historically, small businesses have been the primary engine of new job creation in the United States. If the economy was getting healthy, we would expect to see the number of jobs at new businesses rise. Instead, we are witnessing just the opposite. We are told that the economy is supposed to be “recovering”, but the number of “startup jobs” at new businesses has fallen for five years in a row. According [...]
On the heels of a disappointing earnings report – and the end of the first lock-up period – Facebook’s (Nasdaq: FB) stock keeps dropping. Shares hit an all-time low of $18.75 on Monday, marking a 50% drop from the IPO price of $38.
While other investors cringe as their losses mount, I’m rejoicing. As you well know, I questioned Facebook’s investment merit way before it ever went public (see here). I [...]
By ANDY KESSLER
Did Mitt Romney and Bain Capital help office-supply retailer Staples create 88,000 jobs? 43,000? 252? Actually, Staples probably destroyed 100,000 jobs while creating millions of new ones.
Since 1986, Staples has opened 2,000 stores, eliminating the jobs of distributors and brokers who charged nasty markups for paper and office supplies. But it enabled hundreds of thousands of small (and not so small) businesses to stock themselves cheaply and conveniently [...]
In the wake of the Lehman Brothers bankruptcy global financial markets froze because the normal market makers were not willing to accept the normally very limited risk of participating in those markets. In that kind of acute crisis, the role of central banks was critical to maintain the financial markets that the global economy requires to function.
At the other extreme there is the current state of the American [...]
President Obama, responding to a reporter’s question at today’s NATO summit, makes the case for why Mitt Romney’s record at Bain Capital is relevant to the 2012 campaign:
“The reason why this is relevant to the campaign is that my opponent, Governor Romney, his main calling card for why he thinks he should be president is his business experience. He’s not going out there touting his experience in Massachusetts. He’s saying, [...]
With Republican-controlled Indiana on the verge of becoming a “right to work” state, Democrats in the state House on Tuesday took the only step they have left to prevent it, if only for a bit longer. They disappeared. Again.
A final vote on the measure, which would bar union contracts from requiring nonunion members to pay fees for representation, had been expected Tuesday in the House, which Republicans dominate, 60-40.
But with [...]
President Obama to CEOs: ‘We’ve Been a Bit Lazy’
For the second time in as many months, President Obama has taken the nation that elected him president to task for its own lackadaisical economic performance on the global stage.
Obama told a group of CEOs today that the United States has gotten “lazy” and that America lost its hunger in promoting itself in a global marketplace.
“We’ve been a little bit lazy over [...]
NEW YORK (CNNMoney) — Small businesses continue to add jobs, but the pace of hiring seems to be flattening.
Five months ago, the sector started picking up, adding over 100,000 jobs in December and January, according to data, compiled by ADP, a payroll processor.
In April, however, the hiring growth started losing a bit of steam.
During that month, businesses with fewer than 50 employees added 84,000 jobs, down slightly from the 100,000 [...]
NFP 192K v 196KE, prior 36K revised to 63K Private 222K v 200KE, prior 50K revised to 68K Manufacturing 33K v 49KE, prior 49K revised to 53K Unemployment Rate 8.9% v 9.1%E, prior 9.0%
Unemployment rate down to 8.922% from 9.050% as the participation rate held steady at 64.2% after dropping in Jan.Â Household employment up 250K during the month, while the not in labor force [...]
Among the suggestions being made for getting the American economy moving up again is a reduction in the capital gains tax. But any such suggestion makes people on the left go ballistic. It is “trickle down” economics, they cry.
Liberals claim that those who favor tax cuts and a free market want to help the rich first, hoping that the benefits they receive will eventually trickle [...]
Over the course of the last two decades the world has had a paradigm shift in business structures on multiple levels which has rendered US QE detrimental to John Q Public. The first QE strategy did not work partially because of this shift, and in fact a QE2.0 attempt will only worsen the US’s domestic economic condition.
a) Primary US firms are now multinational, increases in global demand are being meet [...]