President Obama concluded 2011 by accomplishing the remarkable feat of making the United States look worse than Communist China when it comes to promoting global economic freedom. On December 29, the Obama Administration announced that sleeping bags from developing countries will now be subject to a 9 percent tariff. President …
Toyota recently announced it will begin exporting U.S.-built Camry cars and Sienna minivans to South Korea from plants located in Kentucky and Indiana. The cars will be shipped through the Port of Hueneme—ironically, one of the California ports that Occupy Wall Street protestors recently attempted to shut down. Some people …
On December 12, Occupy Wall Street (OWS) attempted to shut down West Coast ports from Anchorage to San Diego. Protesters said that by shutting down the ports, they could shut down Wall Street’s profits. OWS organizers called their event “Day Without Goldman Sachs.” They also could have named their port …
President Obama recently lectured Americans on economics during a campaign stop in Osawatomie, Kansas. The New York Times congratulated President Obama’s speech as a potent blow against market economics. Cal-Berkeley professor Robert Reich called it the most important speech of his presidency. The Kansas City Star gushed over his good …
A recent New York Times online report suggested that Americans should quit buying products made by poor people—because when people in the United States buy coffee, sugar, t-shirts, or tomatoes, they are guilty of exploiting impoverished workers. The story quoted the executive director of a group called Art Works Projects: …
Today the U.S. Bureau of Economic Analysis announced that the trade deficit for July fell by $6.8 billion. Exports increased by $6.2 billion and imports decreased by $500 million. Historically, decreasing trade deficits are often a sign of economic weakness. When workers are unemployed, they have less money to spend. …
Though parents might be rejoicing that the time has come for their kids to head back to school, their happiness could be tempered by a little-known fact: They’re paying import taxes on everything from clothes to lunchboxes, musical instruments to pencils. In 2010, the government collected $25.9 billion in tariffs …
The efforts of House Ways and Means Committee chairman Dave Camp (R–MI) to implement long-overdue trade agreements with Colombia, Panama, and South Korea may soon pay off, providing a much-needed boost to the stagnant U.S. economy. Camp has rebuffed demands from the Obama Administration and Senate Finance Committee chairman Max …
