Recent reports of China’s economic growth contrasted with the U.S. economic downturn have left Americans increasingly concerned that China is becoming a new superpower, controls American finances and will surpass the United States as the world’s leading power. The reality is that the fundamentals of the American economy are stronger than China’s, and U.S. prospects are better. Let’s take exhibit A. It may appear that China contributes the most to world GDP and leads global growth given its 10.7 percent growth last quarter, as well as its 8.7 percent average …
The AFL-CIO, in concert with some Congressional leaders, has proposed yet another tax hike to fund Washington’s ongoing explosion of spending. This latest collaboration between Big Labor and Big Government would be a 0.25 percent tax on all stock trades. Given the budding deficit pressures another tax hike proposal is hardly surprising, but, curiously enough, this new tax would target the pensions of the AFL-CIO’s own members. Congressional leaders have decided to divide their attention for the rest of the year between a hostile (to patients) takeover of the health …
