Late-Campaign Pledges Show American Mythologizing of Business

By: Tuesday October 30, 2012 8:30 am

Just as a reminder of how captured our government has become, President Obama has embarrassingly floated the prospect of a Secretary of Business for his second term. First of all, we already have a Secretary of Commerce, which is pretty much an irrelevant federal agency. So much so, in fact, that the President has proposed [...]

The Dichotomy in Economic Sentiment Between Consumers and Businesses

By: Thursday October 18, 2012 12:27 pm

Economic analysts are giddy about a recent spate of positive consumer-based indicators, on not only housing starts but consumer confidence, retail sales, auto sales and even unemployment. At the same time, in the same economy, the numbers run completely the other way when it comes to the corporate sector. Joe Weisenthal runs down the numbers. [...]

White House Threatens Veto of Cantor Tax Cut Bill, As Duel of Tax Proposals Begins

By: Wednesday April 18, 2012 8:19 am

The White House is on a veto spree today. They threatened to veto the House’s new 90-day surface transportation extension because it includes a quick approval of the Keystone XL pipeline. Without an explicit veto threat, they “oppose” any version of a cybersecurity bill that violates user privacy (more on that later). And they threatened [...]

New Report Shows 26 Fortune 500 Businesses Paid Negative Tax Rate From 2008-2011

By: Monday April 9, 2012 11:01 am

Last year, the watchdog group Citizens for Tax Justice put out a paper showing that 30 Fortune 500 companies had a negative tax rate for the cumulative years 2008-2010. The corporations singled out by the report submitted a number of excuses to explain away what they claimed was an anomaly, owing to things like short-term [...]

Message Vote Madness: Two Can Play at This Game

By: Tuesday March 27, 2012 6:16 am

It’s message vote season in Congress, that time where political parties try to make the opposition uncomfortable by scheduling votes that are difficult to oppose. And the first one, yesterday from Senate Democrats, concerned canceling tax subsidies for the oil and gas industry to pay for investments in renewable energy. With gas prices nearing record [...]

Cantor Unveils Plan to Fight Tax Cuts with Tax Cuts

By: Monday February 20, 2012 8:55 am

With the payroll tax cut and unemployment insurance extensions completed to the end of the year, most observers don’t expect much action in Congress until the November elections. The fact that you can say that on February 20 is quite sad, but it also happens to be the truth. This Congress has shown no ability [...]

Businesses Not Hiring Because of Lack of Sales, Part MCMXVII

By: Monday July 18, 2011 8:10 am

I can’t believe we’re still having this argument about the causes of the lack of hiring and the jobs crisis, but once again, empirical evidence is seen to have a liberal bias. The Wall Street Journal asked economists to cite the cause of weak hiring, and in overwhelming numbers, they cited a lack of sales. [...]

Small Business Lending Fund: No Money Spent in Nine Months

By: Wednesday June 22, 2011 7:30 am

I don’t think we’re making enough out of incompetence as a primary reason we’re mired in a zero-growth decade. For instance, the Federal Reserve, empowered with enormous control over the economy, simply didn’t perform well over the last three years in using unconventional monetary policy to give a boost to the economy. They left the [...]

Repatriation Tax Holiday for Businesses Didn’t Work Last Time to Create Jobs

By: Monday June 20, 2011 12:24 pm

It’s a bit of genius that the New York Times delivers their story about businesses pushing for a repatriation tax holiday under the series headline “But Nobody Pays That.” Because that four-word title refutes just about everything in the article from the business perspective. Businesses talk about the high nominal corporate tax rate. “But Nobody [...]

Senate Rejects DoJ Nominee as Cloture Follies Continue

By: Tuesday May 10, 2011 6:55 am

Last night, Republicans in the Senate blocked a cloture vote for James Cole to become the number 2 man in the Justice Department. Only one Republican, Richard Lugar, voted for cloture. All the others either voted know or stayed away from the chamber, which under the silly supermajority rules is as good as a no [...]

Senate Passes 1099 Repeal; Goes to the President for Signature

By: Tuesday April 5, 2011 11:02 am

The Senate, as expected, passed HR 4 today, the first revision to the Affordable Care Act, repealing a revenue-raising provision that would have required small businesses to report vendor purchases above $600. They paid for the measure with the House pay-for, which penalizes recipients of exchange subsidies who change jobs or increase their income in [...]

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