Fifty-four years ago, at The Economic Club of New York, President John F. Kennedy unveiled a dramatic tax cut plan to revive the long-stagnant U.S. economy. He proposed lowering marginal tax rates for all taxpayers and reducing the corporate tax. He advised lowering the top tax rate from 91 to 65 percent, and closing tax loopholes. Five times ...Read more
The election season is heating up. Donald Trump has pulled back even with Hillary Clinton, and every new economic number is being scrutinized for its supposed political meaning.
The unexpectedly soft U.S. Bureau of Labor Statistics August job report will lend a little political advantage to Trump. In general, jobs came in 30,000 to 40,000 ...Read more
Doing the same thing over and over again and expecting different results, when in fact the results never change, is one definition of insanity. That goes for economics, too.
Over the past seven and a half years, President Obama has maintained a steady course of burdensome new regulations, significant tax increases and massive federal spending...Read more
Did Hillary Clinton actually propose raising middle-income taxes in a recent speech? The audio suggests she said, "We are going to raise taxes on the middle class," although the prepared remarks indicate she meant, "We aren't going to." Well, these things happen. But the fact remains that Clinton's proposals to raise taxes on so-called rich ...Read more
This economy may be perilously close to recession. That was the message of the second-quarter real GDP report and its meager 1.2 percent growth rate.
Over the past year, real GDP has slipped to a paltry 1.2 percent. Business investment continues to fall. Building and factory construction has dropped sharply. Productivity is flat. The profits ...Read more
Ted Cruz essentially gave a career-ending speech at the GOP convention on Wednesday night.
Cruz's speech was a slap in the face to GOP nominee Donald Trump. "Vote your conscience" is a wonderful-sounding phrase. But we all know what he meant: Don't vote for Donald Trump.
I was in the convention hall and the crowd's reaction was unbelievable....Read more
Donald Trump hit two home runs this week. The first, immediately following the horrific terrorist truck attack in Nice, was his statement in a media interview wherein he said that if elected, he would ask Congress for a declaration of war to combat global terrorism. The second was the inspired selection of Indiana governor Mike Pence to join ...Read more