High Corporate Tax Rates - Threat to U.S. Competitiveness
The U.S. has some of the highest corporate income tax rates in the world; the average combined federal and state corporate tax rate is 39.3 percent, rivaled only by Japan.ii As the U.S. has become a comparatively less profitable place for businesses to locate, the U.S. government and the citizens it...
Weekly Economic Update: Sept. 20 - 24, 2010
Overview: The Fed held constant its target for the federal funds rate at 0.0%-0.25%. Housing starts rose 10.5% in August; building permits increased 1.8%; existing home sales rose 7.6%; and new home sales were unchanged. Durable orders fell 1.3% in August; excluding transportation orders rose 2.0...
UK DeBureaucratizes HealthCare We Should Too
Unwinding Obamacare (Part III) – UK-Style Bureaucracy
Since 1948, the United Kingdom has famously had a “single payer,” government-run health care system. The “British model” was, of course, a major inspiration for American Democrats’ controversial health care reform bill, enacted over public opposition in March. Do we really want to adopt the Brit...
Fed Keeps 0.0%-0.25% Fed Funds “Target Range"
2nd quarter GDP growth revised slightly upwards to 1.7%
According to the third* estimate, annualized GDP growth in the 2nd quarter was 1.7%. This marks a slight upward revision from the previously reported second estimate of 1.6% growth. Growth in the first quarter of 2010 was 3.7%, and in the 4th quarter of 2009 was 5.0%. The BEA will release its ad...
Weekly Economic Update: Sept. 13-17, 2010
Overview: Industrial production rose 0.2% in August. The topline CPI increased 0.3%; the core CPI was unchanged. The topline PPI increased 0.4% in August; the core PPI rose 0.1%. Retail sales rose 0.4% in August. The Treasury recorded a deficit of $90.5 billion in August. Business inventories ...
Recent Economic Developments: Uncertainty Looms
While it appears that the nearly trillion-dollar government stimulus along with massive other government interventions—such as the Federal Reserve’s unprecedented increase in the money supply—helped the economy achieve a few quarters of positive growth, it is unclear whether these interventions will...
Weekly Economic Update: Sept. 6 - 10, 2010
Overview: Consumer credit fell by $3.6 billion to $2.42 trillion in July. The U.S. trade deficit narrowed 14.1% to $42.8 billion in July. Initial jobless claims fell by 27,000 to a level of 451,000 for the week ended 9/4.
Weekly Economic Update: Aug. 30 - Sept. 3, 2010
Overview: The economy lost 54,000 jobs in August as the unemployment rate edged up to 9.6%. The ISM index rose 0.8 point to 56.3 in August; the ISM services index fell 2.8 points to 51.5. Personal income edged up 0.2% in July; spending rose 0.4%. Productivity for the 2nd quarter was revised dow...
