The House Rules Committee advanced three proposals Wednesday that may help curb a growing problem for the nation’s economy: stagnant job growth in the technology sector. The three pending free trade agreements with Columbia, Panama and Korea are up for full House approval next week. Senate Republican Minority Leader Mitch McConnell (R-KY) also said that the Senate will vote on the agreements next week as well. 115, 800 U.S. hi-tech industry jobs were lost in 2010-the second straight year of decline for the industry- according to a report released by …
One of the loudest drumbeats in support of “Cap and Trade” legislation has been if the United States doesn’t tackle climate change with legislation we’ll face a national security catastrophe. Nations will collapse, waves of refugees will sweep the world, and states will war on other states over scarce resources. The poster child for the national security nightmare argument was melting glaciers in India that would lead to dramatic shortages of fresh water and water wars between nuclear-armed states. Now comes a report from India —never mind. Apparently the claim …
NBA owners and players will have to swallow hard if that avid hoops fan, Barack Obama, is elected president and pushes through his tax plan. It’s not just players like Celtics star Kevin Garnett, the league leader in pay, who’d have to figure on paying more in federal income taxes. In fact, the NBA’s 20 highest-paid stars each would lose, on average, an additional $1.2 million to an Obama administration. And plenty of American players could increase their net incomes by signing with overseas franchises. (Obama and running mate Joe Biden might call that “unpatriotic” and “selfish.”) …
It looks more and more like Joe the Plumber was on to something about taxes, though you wouldn’t know if from most of the polls and media. The Heritage Foundation has the details in our new study: If a President McCain got his way on tax reform, Americans could expect to see jobs, the economy and their own disposable income grow much faster than if a President Obama were to push through his proposals. As this chart shows, the economy would grow by $320 billion more in 10 years under …
Following the testimony this morning of Federal Reserve Chairman Ben Bernanke, the House Budget Committee turned to three economists for their recommendations. Bill Beach, director of Heritage’s Center for Data Analysis, outlined his views on crafting a long-term, pro-growth economic policy. Here’s video of his opening statement: [youtube]http://www.youtube.com/watch?v=LIfVkAL55ck[/youtube]
The Heritage Foundation’s Center for Data Analysis has just released a study of Barack Obama and John McCain’s tax plans. Using tax models and tax information from other sources as inputs into Global Insight’s U.S. Macroeconomic Model, the study estimates the side-by-side economic effects of the two plans. The study concludes: “Each presidential candidate achieves his stated goal,with Senator McCain generating the most new jobs, growth, and additional income for individuals. Senator Obama’s plan drives up the tax rate for individuals with annual incomes above $250,000 and redistributes money to …
