Posts Tagged ‘economy’
July 23, 2014
by Rep. Dale Kooyenga (R-Brookfield)
Last year many Wisconsin residents celebrated Wisconsin’s first measurable tax cuts in nearly a decade. In addition to cutting taxes, progress was made in simplifying the tax code as evidenced by the elimination of 17 tax credits, downsizing from five to four tax brackets and eliminating Wisconsin’s depreciation schedules in favor of adopting federal standards. In just over two years, Wisconsin went from billions in the red, to cutting both income and property taxes.
I am pleased we were able to accomplish what we did. At the risk of being the “fly in the punch bowl,” let me state we still have a significant problem. Wisconsin by any measure remains a high tax state.
The praise received for cutting taxes is notable and fair because it signified a significant change in trajectory. However, we can’t kid ourselves, we still have yet to fully implement a pro-growth tax code. It’s analogous to being proud of your 16 year old son for turning off the television and heading off to clean his bedroom, but his bedroom is still a mess.
Read more by Nick Novak at MaciverInstitute.com
As students, we see a lot of potential in our peers. We see future engineers, lawyers, professors, and businessmen growing exponentially on campus. When these bright students graduate, some will enter graduate school, others will accept positions with existing companies, but some graduates will want to start a new business. We can assure you that there is no better state than Wisconsin to do just that.
Under Governor Walker, we have seen nearly 20,000 new businesses, adding well over 100,000 jobs. He achieved those numbers by putting the taxpayers first, supporting families and job creators statewide. Now with this lowered tax burden, the employer confidence level is up to a staggering 95%, and graduates will be able to start their own businesses without having to worry about government stepping in the way of their dreams.
Read more by wisconsin.crnc.org
Democrats throw black voters under the bus.
One of the sleeper issues surrounding the debate on amnesty for illegal immigrants – an inconvenient one that no proponent of a widespread amnesty wishes to acknowledge – is the devastating effect so-called immigration reform will have on African Americans.
The black unemployment rate is almost 11 percent, far higher than that of any other group profiled by labor statistics. African Americans are disproportionately employed in lower-skilled jobs – the very same jobs immigrants take. As Steven Camarota asked in a recent column, why double immigration when so many people already aren’t working?
Who will be harmed most by amnesty? African-Americans.
Read more by A. J. Delgado at NationalReview.com
Barack Obama campaigned four years ago assailing President George W. Bush for wage losses suffered by the middle class. More than three years into Obama’s own presidency, those declines have only deepened.
The rebound from the worst recession since the 1930s has generated relatively few of the moderately skilled jobs that once supported the middle class, tightening the financial squeeze on many Americans, even those who are employed.
“It started long before Obama, but he hasn’t done anything,” said John Forsyth, 58, a railroad-car inspector and political independent from Lebanon, Ohio. “He kept pushing this change, change, change, and he hasn’t done anything.”
Underlying the erosion of the middle class, defined by some economists as the middle 60 percent of income earners, are trends that stretch back decades, including competition from lower-wage workers overseas and technological advances that allow factories and offices to produce more with less labor.
Read more By Mike Dorning at Bloomberg.com from 2012.
Call it the million-worker mystery.
A large chunk of American adults are no longer in the labor force. That has left economists divided over how many of them are voluntarily not working-or even looking for work-because they wanted to retire, go to school or take care of family members, versus how many have been forced out because they couldn’t find a job.
Read more by Allison Linn at CNBC.com
Employment: December’s disappointing job numbers came in below expectations, again dampening hopes for sustained economic growth. But the latest data just scratch the surface of Obama’s dismal failure on jobs.
The number of jobs created in December was the lowest in three years, and while the official unemployment number dropped to 6.7%, that was almost entirely due to more than half a million people giving up looking for work.
Of course, a month of data doesn’t mean much.
So, for some badly needed perspective, we’ve created Obama’s Jobs Index to show how Obama’s policies have failed to create adequate job growth. . . .
Read more at Investor’s Business Daily
Americans still seem willing to give a pass to the disaster in the White House.
Let me begin with a categorical statement that, given current events and recent political history, can be easily defended: Barack Hussein Obama is a willful, indoctrinated child of the Left with strong Islamic sympathies who is not fit to govern. Indeed, he would not be fit to govern Lower Slobovia, let alone the United States of America. Obama is a historic disaster of the first magnitude and, if not restrained, he will see to the irrevocable decline of the country which foolishly elected him, leaving the world on the brink of a conflict — or in the midst of one — whose repercussions cannot be underestimated.
Accompanying the undeniable havoc and damage that Obama is wreaking on his country and equally on its allies — Honduras, Saudi Arabia, Egypt, Poland, Czech Republic, Israel, and possibly Taiwan — is the sense of helplessness that overcomes one when writing or speaking about a rogue president and his destructive administration.
Read more by David Solway at PJmedia.com
Just before the Thanksgiving holiday, the Federal Deposit Insurance Corporation released financial data for all federally insured banks as of the end of the third quarter of 2013. The Quarterly Banking Profile, which is an important publication that provides a comprehensive summary of financial results for all FDIC-insured institutions, was also released. The “Quarterly,” as it is known in banking circles, is essential reading for analysts who follow the US economy.
The FDIC data confirms that the Fed’s policy of “quantitative easing” or QE is rapidly becoming a net negative for job growth, consumer income and the US economy overall. The data also suggests very strongly that QE is hurting, rather than helping, the US housing sector and the financial institutions that make mortgage loans. None of this is good for the US economic outlook.
–SNIP–In order to maintain the net interest margin for banks at +/- $100 billion per quarter, the Fed is robbing US savers, including companies, investors and the elderly, of almost the same amount each quarter in badly needed income.
Read more by Christopher Whalen at Breitbart.com
Is America Really a Superpower If It Can’t Even Produce The Lead For Its Own Bullets? — The Mess of the Doe Run Lead Smelter
The systematic dismantling of America from within its own walls continues. In one case of many, this one falls under crippling and shutting down critical industry via environmental regulation.
Read more at glblgeopolitics.wordpress.com
Confessions of a Quantitative Easer
We went on a bond-buying spree that was supposed to help Main Street. Instead, it was a feast for Wall Street.
–SNIP– Where are we today? The Fed keeps buying roughly $85 billion in bonds a month, chronically delaying so much as a minor QE taper. Over five years, its bond purchases have come to more than $4 trillion. Amazingly, in a supposedly free-market nation, QE has become the largest financial-markets intervention by any government in world history.
And the impact? Even by the Fed’s sunniest calculations, aggressive QE over five years has generated only a few percentage points of U.S. growth. By contrast, experts outside the Fed, such as Mohammed El Erian at the Pimco investment firm, suggest that the Fed may have created and spent over $4 trillion for a total return of as little as 0.25% of GDP (i.e., a mere $40 billion bump in U.S. economic output). Both of those estimates indicate that QE isn’t really working.
Read more by Andrew Huszar at WSJ.com
Just more ink-and-paper tickets being created.
We all keep hearing how minimum wage is never enough and prices keep going up. Why? Devalued money is why. Our dollar is based on debt not actual value. Remember when a dime was a dime’s worth of silver? Me either I wasn’t born yet. We just grew up with this federal reserve fiat money. What value the government gives government can take away. The more you print with no value to back it up the less it’s worth. That means it takes more to buy the same product than it used to. Thomas Jefferson warned us of this :
“I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” — Thomas Jefferson — The Debate Over The Recharter Of The Bank Bill, (1809)
Here’s a cool US Inflation Calculator. See for yourself
From Conservatarian Times