Why We Should Be Talking About Immigration
The Obama administration has effectively marginalized the Republican Party when it comes to immigration by characterizing Republicans as anti-Latino, which is nonsense. Republicans are simply demanding that the government follow current immigration law, which means that immigrants need to go through the proper steps to become a U.S. citizen – something that immigrants have been doing for more than 150 years. To curry favor of Hispanic voters, the Obama administration is working to lower the bar to citizenship. Department of Homeland Security’s Inspector General recently released a report that suggested that one-quarter of all U.S. immigration officers report they’ve been pressured by supervisors to overlook problems on citizenship applications. By making it easier for undocumented... Read More
When It Isn’t Good to be Number One
America loves to be number one. But now we have the dubious distinction of being number one in a category that nobody wants: we have the highest corporate tax rate in the world. The result is that the U.S. tax code continues to drive American employers to outsource jobs overseas. Since 2001, Japan had levied the highest combined corporate tax rate among the Organization for Economic Cooperation and Development (OECD) countries at 39.5 percent. They recently lowered their rate to 38.01 percent, which according to a study by the Tax Foundation puts Japan’s rate below America’s combined federal and state rate of 39.2 percent — the highest in the world. What does this mean for America’s job picture? Our job creators have fewer financial resources to work with as they struggle to hire more... Read More
When It Isn’t Good to be Number One
America loves to be number one. But now we have the dubious distinction of being number one in a category that nobody wants: we have the highest corporate tax rate in the world. The result is that the U.S. tax code continues to drive American employers to outsource jobs overseas. Since 2001, Japan had levied the highest combined corporate tax rate among the Organization for Economic Cooperation and Development (OECD) countries at 39.5 percent. They recently lowered their rate to 38.01 percent, which according to a study by the Tax Foundation puts Japan’s rate below America’s combined federal and state rate of 39.2 percent — the highest in the world. What does this mean for America’s job picture? Our job creators have fewer financial resources to work with as they struggle to hire more... Read More
Obama Declares War on Coal and Jobs
If there was a commodity that brings $16 billion to the American economy through exports and directly and indirectly employs around 1.5 million American workers, this would be a commodity that would naturally be supported by everyone. That commodity is coal — which is not supported by at least one group: the Obama administration, which has literally declared war on the American coal industry, and the jobs that come with it. Last week the Obama administration proposed new measures that will force new electricity generation plants to cut CO2 emissions by 50 per cent and also mandate investment in unaffordable technologies to bury carbon emissions underground. The new proposals would also set the stage for existing coal burning plants to come under the same arrogant EPA mandate whereby compliance... Read More
Obama Declares War on Coal and Jobs
If there was a commodity that brings $16 billion to the American economy through exports and directly and indirectly employs around 1.5 million American workers, this would be a commodity that would naturally be supported by everyone. That commodity is coal — which is not supported by at least one group: the Obama administration, which has literally declared war on the American coal industry, and the jobs that come with it. Last week the Obama administration proposed new measures that will force new electricity generation plants to cut CO2 emissions by 50 per cent and also mandate investment in unaffordable technologies to bury carbon emissions underground. The new proposals would also set the stage for existing coal burning plants to come under the same arrogant EPA mandate whereby compliance... Read More
Compromised Secrets Compromise Job Creation
Secrets are a trust between individuals and groups. They play a role in security and building sustainable relationships. But when secrets are compromised, trust is the victim. There have been two recent situations where secrets are being compromised — both of which will compromise job creation. The first surrounds the supposed secret deliberations by the Supreme Court over Obamacare. The cost of implementation and compliance with a government controlled healthcare system will be staggering. The estimates escalate each time another layer of regulation is peeled back. Ultimately, this heavy burden will be passed on to American businesses in the form of higher insurance premiums and taxes. The consequence is that companies are not hiring new employees and will start reducing staff to afford... Read More
Compromised Secrets Compromise Job Creation
Secrets are a trust between individuals and groups. They play a role in security and building sustainable relationships. But when secrets are compromised, trust is the victim. There have been two recent situations where secrets are being compromised — both of which will compromise job creation. The first surrounds the supposed secret deliberations by the Supreme Court over Obamacare. The cost of implementation and compliance with a government controlled healthcare system will be staggering. The estimates escalate each time another layer of regulation is peeled back. Ultimately, this heavy burden will be passed on to American businesses in the form of higher insurance premiums and taxes. The consequence is that companies are not hiring new employees and will start reducing staff to afford... Read More
Bernanke Is Addicted to Morphine Economics
Last week, Richard Fisher, the president of the Dallas Federal Reserve and a member of the central bank’s policy-making committee, compared Wall Street’s addiction to the Fed’s economic policy as “monetary morphine.” I coined a version of that term more than three years ago because it aptly describes how the Federal government is handling the economy. Ben Bernanke, current chairman of the Federal Reserve, is the “morphine dealer” as he continues to promote his “accommodative monetary policies,” which keeps interest rates extremely low. The outcome is that banks, companies, and Wall Street investors can borrow cash at no cost and put it in investment vehicles that return interest. This easy money is addictive and unless Fed policies change, it will... Read More
Bernanke Is Addicted to Morphine Economics
Last week, Richard Fisher, the president of the Dallas Federal Reserve and a member of the central bank’s policy-making committee, compared Wall Street’s addiction to the Fed’s economic policy as “monetary morphine.” I coined a version of that term more than three years ago because it aptly describes how the Federal government is handling the economy. Ben Bernanke, current chairman of the Federal Reserve, is the “morphine dealer” as he continues to promote his “accommodative monetary policies,” which keeps interest rates extremely low. The outcome is that banks, companies, and Wall Street investors can borrow cash at no cost and put it in investment vehicles that return interest. This easy money is addictive and unless Fed policies change, it will be nearly impossible to wean... Read More
Congress Finally Gets Around to Job Creation
As if waking from a stupor, Congress is finally willing to tackle job creation. The Jumpstart Our Business Startups (JOBS) Act introduced by Republicans is a rare occasion of bi-partisan support. It quickly moved through the House and garnered a 390-23 vote for approval with even Congresswomen Maxine Waters voting for it. It eventually passed the Democratic-controlled Senate despite having the Democrat leadership including Senators Harry Reid, Dick Durbin and Mary Landrieu initially aligned against it. Something lit a fire under Congress. Could it be that their approval rating is below 12 percent? Or that many are up for reelection this November? Whatever the reason, why did it take four years for Congress to realize that with 25 million unemployed and underemployed Americans they might want... Read More
