One of the most common objections to letting the cuts expire for those in the highest tax brackets is that it would hurt small businesses. As Sen. Orrin Hatch (R-Utah) recently put it, allowing the cuts to lapse would amount to "a job-killing tax hike on small business during tough economic times."
President Obama is seeking to double exports, through marketing programs and new free trade deals. However worthy those initiatives may be, doubling exports does no good if imports double too. By increasing the trade gap, more open trade policies would increase the drag on growth and jobs creation.
The Wall Street Journal’s weekend editorial “It Isn’t Working” lamented that “three years of spending and monetary stimulus haven’t helped jobs”. While making a number of valid points...it failed to point out that the Federal Government has provided a significant amount of valuable and essential stimulus to the economy with an important part of the stimulus program – namely, in refurbishing the highways.
To accomplish robust growth and lower unemployment to pre-recession levels, President Obama must temper his impulse to tax and regulate, and stop appeasing China and Wall Street.
Lower tax rates clearly help the poor and the middle class increase their spending. But the same can’t be said for the rich.
The Treasury’s study on Fannie, Freddie and housing finance must be delivered to Congress by the end of January 2011. In a speech last week, Timothy F. Geithner, the Treasury secretary, told a New York audience that resolving the companies isn’t “rocket science.” But attaining genuine remedies for our housing finance system could actually be harder than rocket science.
Employees in Louisiana and Colorado took meals, gifts and sporting trips paid for by the industry, and several Colorado officials had sex and used drugs with industry employees. But the agency’s culture was shaped by forces much bigger than small-time corruption.
Mr. Greenspan is wading into the most fierce economic policy debate in Washington — what to do with the tax cuts adopted, in large part because of his implicit backing, under President George W. Bush — with a position not only contrary to Republican orthodoxy, but decidedly to the left of President Obama.
There’s a class war coming to the world of government pensions. The haves are retirees who were once state or municipal workers. Their seemingly guaranteed and ever-escalating monthly pension benefits are breaking budgets nationwide.
President Barack Obama hailed the seventh straight month of private job creation in July as a good sign for the economy, but notes the progress "needs to come faster."
S&P futures initially dropped about 10 points following a very poor non-farm payrolls report. July payrolls fell 131,000, more than double the 60,000 decline expected by economists. Government job losses were particularly notable. The key reading of private sector jobs also disappointed the Street (gain of 71,000 vs. gain of 83,000 consensus).
Will higher tax penalties on investment really spur jobs and faster economic growth? Most commentators would say no. It’s really a matter of economic common sense. But Tim Geithner says, Yes!
The president has an opportunity to ensure that it's not just the "fat cats" that benefit from GM's public stock offering, Cramer said.
When I sat down to talk with President Barack Obama at the Ford plant on the south side of Chicago, I knew he would tell me the auto industry is in far better shape because his administration stepped in last year to save GM and Chrysler.
Debate has been heating up over the tax cuts enacted by President Bush that are set to expire at the end of the year...
US taxpayers will be repaid in full for the government bailout of General Motors when the once-bankrupt automaker offers stock to the public later this year, President Obama said in an interview on CNBC Thursday.
With Congress set to debate extending the Bush tax cuts, there are risks to small business from raising taxes on the “wealthy”. US Treasury Secretary Tim Geithner gave a speech yesterday in Washington on the Obama administrations economic case for raising taxes on high earners.
Food and personal care giant Uniliver (think Hellman's mayonnaise, Ben & Jerry's, Lipton tea, Dove soap, etc.) the latest food company to report being caught in a vise.
With a Ford Motor assembly plant as the setting, President Barack Obama is arguing anew that his politically risky decision to bail out the auto industry saved it from collapse.
S&P futures rose 5 points following a better-than-expected ADP employment report. The firm reported a slightly better-than-expected gain of 42,000 private sector jobs (vs. up 39,000 expected) in July, giving hope of a better government July jobs report on Friday.